Funding you earn now, next payment 16:00 UTC+0.0654%/8h= +71.7% APRnext payment +$6.54 per $10,000 · paid last 24h +0.155%
Price spread now: Binance against Phemex+0.049%7-day average +0.006% · 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−$232as in the Price arb table
costs, in and out, $10k−$2372.368% of the position
Funding, last 3 days (all we have)+0.268%+$27 on $10k
+Price spread, last 2 days (all we have)−0.390%−$39 · spread now +0.049%, 7d avg +0.006%
=Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Binance is 0.043% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.006%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex CYPHUSDT | 3.4330 | 0 | get 0.0000% / 8h | 7h 47m | $147K | $231K | 10x |
| Short | Binance CYPHUSDT | 3.4347 | 0.0654 | get 0.0654% / 8h | 7h 47m | $247K | $2.7M | 20x |
Phemex CYPHUSDT
Binance CYPHUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phemex. 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
- $137.41
- Price spread: +0.049% → +0.006%
- $4.34
- Slippage, 4 orders
- −$214.76
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$95
- Costs to cover
- 2.368%
- Break-even
- 11.8 days
Slippage from Phemex: live order book, 50 min ago; Binance: live order book, 3 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 Phemex live order book, 50 min ago | 14.49 bp | 66.4 bp −$66 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 3 min ago | 8.74 bp | 41.7 bp −$42 | doesn't fit | doesn't fit | doesn't fit |
CYPH on 10 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit CYPHUSDT | 0.0000% | 8h | 3.4450 | +0.350% | $32K | $407K | 25x | as long as short |
| Gate CYPH_USDT | 0.0000% | 8h | 3.4350 | +0.058% | $36K | $56K | 20x | as long as short |
| Bitget CYPHUSDT | 0.0000% | 8h | 3.4373 | +0.125% | $45K | $621K | 20x | as long as short |
| SunX CYPH-USDT | 0.0000% | 8h | 3.4320 | −0.029% | — | $4.1M | 10x | as long as short |
| HTX CYPH-USDT | 0.0000% | 8h | 3.4340 | +0.029% | $8K | $358K | 20x | as long as short |
| Phemex CYPHUSDTlong | 0.0000% | 8h | 3.4330 | long leg | $147K | $231K | 10x | |
| QFEX CYPH-USD | +0.0001% | 1h | 3.3700 | −1.835% | $2.0M | $326K | 10x | as long as short |
| edgeX CYPHUSDC | +0.0100% | 4h | 3.4348 | +0.052% | — | $23K | 10x | as long as short |
| Binance CYPHUSDTshort | +0.0654% | 8h | 3.4347 | +0.049% | $247K | $2.7M | 20x | |
| Aftermath Perps CYPHUSD | +0.2363% | 1h | 3.5617 | +3.749% | $550 | $20K | 3x | as long as short |
Bybit CYPHUSDT
Gate CYPH_USDT
Bitget CYPHUSDT
SunX CYPH-USDT
HTX CYPH-USDT
QFEX CYPH-USD
edgeX CYPHUSDC
Aftermath Perps CYPHUSD