Funding you earn now, next payment 03:00 UTC−0.0195%/8h= −21.3% APRpaid last 24h −0.003%
Price spread now: Binance against Phoenix−0.227%85s7-day average +0.051% · you buy dearer than you sell
Net, funding: paid 7d − costs−$78as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$600.596% of the position
Funding, last 7 days−0.184%−$18 on $10k
+Price spread, last 4 days (all we have)+0.938%+$94 · spread now −0.227%, 7d avg +0.051%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Binance is 0.278% cheaper against Phoenix than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of +0.051%). Swap the legs. The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix ARM | 326.24 | 0.0195 | pay 0.0024% / 1h | 56m 08s | $5K | $444K | 10x |
| Short | Binance ARMUSDT | 325.50 | 0 | get 0.0000% / 8h | 3h 56m | $8.5M | $50.2M | 20x |
Phoenix ARM
Binance ARMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$40.89
- Price spread: −0.227% → +0.051%
- −$27.81
- Slippage, 4 orders
- −$42.65
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$128.34
- Costs to cover
- 0.596%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 61 min ago; Binance: live order book, 16 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Phoenix live order book, 61 min ago | 6.39 bp | 18.9 bp −$19 | 40.7 bp −$407 | doesn't fit | doesn't fit |
| Sell Binance live order book, 16 min ago | 1.38 bp | 10.4 bp −$10 | 10.9 bp −$109 | 93.1 bp −$9,315 | doesn't fit |
ARM on 24 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster ARMUSDT | 0.0000% | 8h | 326.10 | −0.043% | $7K | $126K | 20x | as long as short |
| Extended ARM-USD | 0.0000% | 1h | 325.60 | −0.195% | $41K | $271K | 10x | as long as short |
| Binance ARMUSDTshort | 0.0000% | 8h | 325.50 | −0.227% | $8.5M | $50.2M | 20x | |
| Bybit ARMUSDT | 0.0000% | 8h | 325.47 | −0.236% | $1.9M | $2.1M | 25x | as long as short |
| OKX ARM-USDT-SWAP | 0.0000% | 8h | 325.20 | −0.319% | $1.7M | $6.6M | 20x | as long as short |
| Bitget ARMUSDT | 0.0000% | 8h | 325.69 | −0.169% | $1.8M | $3.9M | 20x | as long as short |
| Variational Omni ARM | 0.0000% | 8h | 325.71 | −0.163% | $211K | $296K | — | as long as short |
| GRVT ARM_USDT_Perp | 0.0000% | 8h | 326.29 | +0.015% | $796 | $205K | 10x | as long as short |
| SunX ARM-USDT | 0.0000% | 8h | 325.61 | −0.193% | $1K | $2.7M | 10x | as long as short |
| Deribit ARM_USDC-PERPETUAL | 0.0000% | 1h | 325.60 | −0.196% | $12K | $59K | 10x | as long as short |
Aster ARMUSDT
Extended ARM-USD
Bybit ARMUSDT
OKX ARM-USDT-SWAP
Bitget ARMUSDT
Variational Omni ARM
GRVT ARM_USDT_Perp
SunX ARM-USDT
Deribit ARM_USDC-PERPETUALShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX ARM-USDT | 0.0000% | 8h | 325.95 | −0.089% | $18K | $16K | 20x | as long as short |
| QFEX ARM-USD | +0.0014% | 1h | 325.60 | −0.196% | $1.1M | $3.8M | 10x | as long as short |
| BloFin ARM-USDT | +0.0021% | 8h | 326.08 | −0.049% | $127K | $49K | 20x | as long as short |
| Lighter ARM | +0.0032% | 1h | 325.50 | −0.227% | — | — | 10x | as long as short |
| Gate ARM_USDT | +0.0036% | 8h | 325.84 | −0.123% | $1.5M | $4.3M | 50x | as long as short |
| Vest ARM-USD-PERP | +0.0046% | 1h | 325.87 | −0.113% | — | — | 10x | as long as short |
| tradeXYZ xyz:ARM | +0.0050% | 1h | 325.56 | −0.208% | $8.2M | $8.8M | 10x | as long as short |
| Polymarket Perps ARM-USD | +0.0050% | 1h | 325.56 | −0.208% | $377K | $1.3M | 10x | as long as short |
| Ondo Perps ARM-USD.P | +0.0050% | 1h | 325.68 | −0.172% | $196K | $412K | 10x | as long as short |
| Coinbase International ARM-PERP-INTX | +0.0128% | 1h | 326.05 | −0.058% | $98K | $308K | 10x | as long as short |
| Phoenix ARMlong | +0.0195% | 1h | 326.24 | long leg | $5K | $444K | 10x | |
| Injective ARM/USDC PERP | +0.0220% | 1h | 330.24 | +1.226% | $5K | $50K | 12x | as long as short |
| KuCoin ARMUSDTM | +0.0268% | 8h | 325.79 | −0.138% | $2.3M | $118K | 20x | as long as short |
| edgeX ARMUSDC | +0.0950% | 4h | 326.12 | −0.037% | $35K | $348K | 10x | as long as short |
HTX ARM-USDT
QFEX ARM-USD
BloFin ARM-USDT
Lighter ARM
Gate ARM_USDT
Vest ARM-USD-PERP
tradeXYZ xyz:ARM
Polymarket Perps ARM-USD
Ondo Perps ARM-USD.P
Coinbase International ARM-PERP-INTX
Injective ARM/USDC PERP
KuCoin ARMUSDTM
edgeX ARMUSDC