Funding you earn now, next payment 16:00 UTC−0.0325%/8h= −35.5% APRnext payment −$3.25 per $10,000 · paid last 24h −0.085%
Price spread now: Phemex against Binance+0.071%7-day average +0.019% · 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−$224as in the Price arb table
costs, in and out, $10k−$2302.296% of the position
Funding, last 3 days (all we have)−0.093%−$9 on $10k
+Price spread, last 2 days (all we have)+0.552%+$55 · spread now +0.071%, 7d avg +0.019%
=The price spread pays, funding is against you. Phemex is 0.052% dearer against Binance than usual: you sell high and buy low (spread +0.071% now, against its 7-day average of +0.019%): +$5 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 3 days (−0.093% in total) that is about 37 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance HUTUSDT | 101.93 | 0.0325 | pay 0.0325% / 8h | 6h 57m | $191K | $1.7M | 20x |
| Short | Phemex HUTUSDT | 102.00 | 0 | get 0.0000% / 8h | 6h 57m | $121K | $133K | 10x |
Binance HUTUSDT
Phemex HUTUSDTFunding 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
- −$68.16
- Price spread: +0.071% → +0.019%
- $5.25
- Slippage, 4 orders
- −$207.56
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$292.47
- Costs to cover
- 2.296%
- Break-even
- never at this rate
Slippage from Binance: live order book, 6 min ago; Phemex: live order book, 34 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, 6 min ago | 3.45 bp | 39.4 bp −$39 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 34 min ago | 13.78 bp | 66.6 bp −$67 | doesn't fit | doesn't fit | doesn't fit |
HUT 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 HUTUSDT | 0.0000% | 8h | 102.38 | +0.444% | $18K | $110K | 25x | as long as short |
| OKX HUT-USDT-SWAP | 0.0000% | 8h | 102.03 | +0.101% | $37K | $912K | 20x | as long as short |
| Gate HUT_USDT | 0.0000% | 8h | 101.82 | −0.106% | $24K | $22K | 20x | as long as short |
| Bitget HUTUSDT | 0.0000% | 8h | 101.95 | +0.022% | $54K | $130K | 20x | as long as short |
| SunX HUT-USDT | 0.0000% | 8h | 102.14 | +0.208% | — | $161.6M | 10x | as long as short |
| HTX HUT-USDT | 0.0000% | 8h | 101.87 | −0.056% | $2K | $348K | 20x | as long as short |
| Phemex HUTUSDTshort | 0.0000% | 8h | 102.00 | +0.071% | $121K | $133K | 10x | |
| QFEX HUT-USD | +0.0034% | 1h | 101.95 | +0.022% | $1.8M | $1.2M | 10x | as long as short |
| Binance HUTUSDTlong | +0.0325% | 8h | 101.93 | long leg | $191K | $1.7M | 20x | |
| BloFin HUT-USDT | +0.0333% | 8h | 102.29 | +0.356% | $46K | $30K | 20x | as long as short |
Bybit HUTUSDT
OKX HUT-USDT-SWAP
Gate HUT_USDT
Bitget HUTUSDT
SunX HUT-USDT
HTX HUT-USDT
QFEX HUT-USD
BloFin HUT-USDT