Funding you earn now, next payment 08:00 UTC−0.0142%/8h= −15.5% APRnext payment −$1.42 per $10,000 · paid last 24h −0.199%
Price spread now: Phemex against Binance+0.298%7-day average −0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$235as in the Price arb table
costs, in and out, $10k−$2662.664% of the position
Funding, last 3 days (all we have)−0.199%−$20 on $10k
+Price spread, last 2 days (all we have)−0.386%−$39 · spread now +0.298%, 7d avg −0.012%
=The price spread pays, funding is against you. Phemex is 0.310% dearer against Binance than usual: you sell high and buy low (spread +0.298% now, against its 7-day average of −0.012%): +$31 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 7.3 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance CYPHUSDT | 3.3520 | 0.0142 | pay 0.0142% / 8h | 2h 51m | $240K | $2.8M | 20x |
| Short | Phemex CYPHUSDT | 3.3620 | 0 | get 0.0000% / 8h | 2h 51m | $138K | $234K | 10x |
Binance CYPHUSDT
Phemex CYPHUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Binance. 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
- −$29.77
- Price spread: +0.298% → −0.012%
- $31
- Slippage, 4 orders
- −$244.4
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$265.16
- Costs to cover
- 2.664%
- Break-even
- never at this rate
Slippage from Binance: live order book, 14 min ago; Phemex: live order book, 60 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 Binance live order book, 14 min ago | 5.93 bp | 50.4 bp −$50 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 60 min ago | 31.07 bp | 94.1 bp −$94 | doesn't fit | doesn't fit | doesn't fit |
CYPH on 9 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget CYPHUSDT | −0.0163% | 8h | 3.3658 | +0.412% | $48K | $626K | 20x | as long as short |
| Bybit CYPHUSDT | 0.0000% | 8h | 3.3500 | −0.060% | $29K | $383K | 25x | as long as short |
| QFEX CYPH-USD | 0.0000% | 1h | 3.3600 | +0.239% | $2.0M | $336K | 10x | as long as short |
| Gate CYPH_USDT | 0.0000% | 8h | 3.3750 | +0.686% | $35K | $55K | 20x | as long as short |
| SunX CYPH-USDT | 0.0000% | 8h | 3.3530 | +0.030% | — | $4.6M | 10x | as long as short |
| HTX CYPH-USDT | 0.0000% | 8h | 3.3550 | +0.089% | $7K | $360K | 20x | as long as short |
| Phemex CYPHUSDTshort | 0.0000% | 8h | 3.3620 | +0.298% | $138K | $234K | 10x | |
| Binance CYPHUSDTlong | +0.0142% | 8h | 3.3520 | long leg | $240K | $2.8M | 20x | |
| Aftermath Perps CYPHUSD | +0.2355% | 1h | 3.5647 | +6.347% | $529 | $20K | 3x | as long as short |
Bitget CYPHUSDT
Bybit CYPHUSDT
QFEX CYPH-USD
Gate CYPH_USDT
SunX CYPH-USDT
HTX CYPH-USDT
Aftermath Perps CYPHUSD