Funding you earn now, next payment 23:00 UTC−0.0255%/8h= −27.9% APRnext payment −$0.32 per $10,000 · paid last 24h −0.003%
Price spread now: Coinbase International against Phoenix−0.046%7-day average −0.024% · you buy dearer than you sell
Net, funding: paid 7d − costs−$64as in the Funding arb table
Net, price: spread back to 7d avg − costs−$65as in the Price arb table
costs, in and out, $10k−$630.633% of the position
Funding, last 7 days−0.011%−$1 on $10k
+Price spread, last 3 days (all we have)−0.049%−$5 · spread now −0.046%, 7d avg −0.024%
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Coinbase International is 0.022% cheaper against Phoenix than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.024%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.011% in total (about -0.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.32 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix ARM | 325.29 | 0.0271 | pay 0.0034% / 1h | 48m 22s | $5K | $460K | 10x |
| Short | Coinbase International ARM-PERP-INTX | 325.14 | 0.0016 | get 0.0002% / 1h | 48m 22s | $88K | $289K | 10x |
Phoenix ARM
Coinbase International ARM-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$53.53
- Price spread: −0.046% → −0.024%
- −$2.23
- Slippage, 4 orders
- −$46.26
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$119.03
- Costs to cover
- 0.633%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 29 min ago; Coinbase International: live order book, 30 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, 29 min ago | 6.47 bp | 18.8 bp −$19 | 40.7 bp −$407 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 30 min ago | 7.41 bp | 12.4 bp −$12 | 18.4 bp −$184 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin ARM-USDT | −0.0002% | 8h | 325.29 | 0.000% | $123K | $44K | 20x | as long as short |
| Aster ARMUSDT | 0.0000% | 8h | 325.10 | −0.058% | $7K | $126K | 20x | as long as short |
| Bybit ARMUSDT | 0.0000% | 8h | 325.35 | +0.018% | $2.0M | $2.5M | 25x | as long as short |
| OKX ARM-USDT-SWAP | 0.0000% | 8h | 325.41 | +0.037% | $1.7M | $6.8M | 20x | as long as short |
| Bitget ARMUSDT | 0.0000% | 8h | 325.28 | −0.003% | $1.8M | $4.2M | 20x | as long as short |
| SunX ARM-USDT | 0.0000% | 8h | 325.12 | −0.052% | $1K | $3.2M | 10x | as long as short |
| Deribit ARM_USDC-PERPETUAL | 0.0000% | 1h | 325.28 | −0.003% | $12K | $145K | 10x | as long as short |
| HTX ARM-USDT | 0.0000% | 8h | 325.40 | +0.034% | $18K | $17K | 20x | as long as short |
| Variational Omni ARM | +0.0016% | 8h | 325.18 | −0.032% | $213K | $523K | — | as long as short |
| Coinbase International ARM-PERP-INTXshort | +0.0016% | 1h | 325.14 | −0.046% | $88K | $289K | 10x |
BloFin ARM-USDT
Aster ARMUSDT
Bybit ARMUSDT
OKX ARM-USDT-SWAP
Bitget ARMUSDT
SunX ARM-USDT
Deribit ARM_USDC-PERPETUAL
HTX ARM-USDT
Variational Omni ARMShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter ARM | +0.0032% | 1h | 325.33 | +0.012% | — | — | 10x | as long as short |
| QFEX ARM-USD | +0.0033% | 1h | 325.34 | +0.015% | $1.1M | $4.7M | 10x | as long as short |
| Vest ARM-USD-PERP | +0.0046% | 1h | 325.39 | +0.031% | — | — | 10x | as long as short |
| tradeXYZ xyz:ARM | +0.0050% | 1h | 325.35 | +0.018% | $8.0M | $9.7M | 10x | as long as short |
| Polymarket Perps ARM-USD | +0.0050% | 1h | 325.20 | −0.028% | $464K | $1.7M | 10x | as long as short |
| Ondo Perps ARM-USD.P | +0.0050% | 1h | 325.12 | −0.052% | $208K | $557K | 10x | as long as short |
| Gate ARM_USDT | +0.0053% | 8h | 325.55 | +0.080% | $1.5M | $4.1M | 50x | as long as short |
| Binance ARMUSDT | +0.0133% | 8h | 325.35 | +0.018% | $8.6M | $51.0M | 20x | as long as short |
| Extended ARM-USD | +0.0136% | 1h | 325.27 | −0.006% | $39K | $188K | 10x | as long as short |
| GRVT ARM_USDT_Perp | +0.0219% | 8h | 325.30 | +0.003% | $420 | $207K | 10x | as long as short |
| Injective ARM/USDC PERP | +0.0220% | 1h | 328.17 | +0.885% | $5K | $52K | 12x | as long as short |
| Phoenix ARMlong | +0.0271% | 1h | 325.29 | long leg | $5K | $460K | 10x | |
| KuCoin ARMUSDTM | +0.0481% | 8h | 325.45 | +0.049% | $2.3M | $118K | 20x | as long as short |
| edgeX ARMUSDC | +0.0739% | 4h | 325.17 | −0.038% | $35K | $350K | 10x | as long as short |
Lighter ARM
QFEX ARM-USD
Vest ARM-USD-PERP
tradeXYZ xyz:ARM
Polymarket Perps ARM-USD
Ondo Perps ARM-USD.P
Gate ARM_USDT
Binance ARMUSDT
Extended ARM-USD
GRVT ARM_USDT_Perp
Injective ARM/USDC PERP
KuCoin ARMUSDTM
edgeX ARMUSDC