IWM

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC−0.0115%/8h= −12.6% APRnext payment −$1.15 per $10,000 · paid last 24h −0.008%

Price spread now: Phemex against Binance+0.076%7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$128as in the Funding arb table

Net, price: spread back to 7d avg − costs−$119as in the Price arb table

costs, in and out, $10k−$1271.270% of the position

Long on Binance Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 2 days (all we have)−0.076%−$8 · spread now +0.076%, 7d avg +0.001%

Together, before fees−0.085%−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.075% dearer against Binance than usual: you sell high and buy low (spread +0.076% now, against its 7-day average of +0.001%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.2 days. At the pace of the last 7 days (−0.008% in total) that is about 2 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance IWMUSDT	286.02	0.0115	pay 0.0115% / 8h	6h 57m	$1.1M	$1.2M	20x
Short	Phemex IWMUSDT	286.24	0	get 0.0000% / 8h	6h 57m	$768K	$87K	10x

Funding 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BinancebpFee PhemexbpOrdersPrice spread, now +0.076%Rate

Funding earned: −$24.08
Price spread: +0.076% → +0.001%: $7.54
Slippage, 4 orders: −$105.03
Fee Binance: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$143.57
Costs to cover: 1.270%
Break-even: never at this rate

Slippage from Binance: live order book, 5 min ago; Phemex: live order book, 35 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, 5 min ago	0.35 bp	14.2 bp −$14	51.4 bp −$514	doesn't fit	doesn't fit
Sell Phemex live order book, 35 min ago	1.75 bp	46.0 bp −$46	doesn't fit	doesn't fit	doesn't fit

IWM on 17 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 IWMUSDT	0.0000%	8h	285.97	−0.019%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	285.92	−0.035%	$568K	$73K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	285.77	−0.088%	$439K	$181K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	286.14	+0.042%	$602K	$162K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	285.97	−0.018%	$442K	$16K	20x	as long as short
Variational Omni IWM	0.0000%	8h	286.33	+0.109%	$170K	$217K	—	as long as short
SunX IWM-USDT	0.0000%	8h	286.20	+0.062%	$913	$468K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	286.32	+0.104%	$544	$38K	20x	as long as short
Phemex IWMUSDTshort	0.0000%	8h	286.24	+0.076%	$768K	$87K	10x
Lighter IWM	+0.0032%	1h	286.40	+0.132%	$75K	$19K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Markets by Kinetiq mkts:SMALL2000	+0.0046%	1h	285.93	−0.032%	$526K	$381K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	285.92	−0.035%	—	$1K	25x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	285.98	−0.014%	$166K	$982K	20x	as long as short
Binance IWMUSDTlong	+0.0115%	8h	286.02	long leg	$1.1M	$1.2M	20x
MEXC IWM_USDT	+0.0117%	8h	286.05	+0.010%	$884K	$83K	50x	as long as short
BloFin IWM-USDT	+0.0125%	8h	286.32	+0.104%	$67K	$34K	20x	as long as short
GRVT IWM_USDT_Perp	+0.0542%	8h	286.36	+0.118%	$988	$104K	10x	as long as short