Funding arb · Price arb /

IWM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against Gate+0.010%7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$323as in the Funding arb table

Net, price: spread back to 7d avg − costs−$328as in the Price arb table

costs, in and out, $10k−$3233.227% of the position

Long on Gate Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.134%−$13 · spread now +0.010%, 7d avg +0.065%

Together, before fees−0.134%−$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.055% cheaper against Gate than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IWM_USDT	285.82	0	get 0.0000% / 8h	4h 42m	$611K	$157K	20x
Short	Phemex IWMUSDT	285.85	0	get 0.0000% / 8h	4h 42m	$764K	$71K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Gate. 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 GatebpFee PhemexbpOrdersPrice spread, now +0.010%Rate

Funding earned: $0
Price spread: +0.010% → +0.065%: −$5.49
Slippage, 4 orders: −$295.68
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$328.17
Costs to cover: 3.227%
Break-even: never at this rate

Slippage from Gate: live order book, 14 min ago; Phemex: live order book, 15 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 Gate live order book, 14 min ago	8.05 bp	17.4 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 15 min ago	1.92 bp	46.1 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
BloFin IWM-USDT	−0.0021%	8h	285.86	+0.014%	$65K	$32K	20x	as long as short
Aster IWMUSDT	0.0000%	8h	285.60	−0.075%	$2K	$221	20x	as long as short
Binance IWMUSDT	0.0000%	8h	285.81	−0.002%	$1.0M	$1.0M	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	285.46	−0.126%	$549K	$58K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	285.91	+0.031%	$400K	$114K	20x	as long as short
Gate IWM_USDTlong	0.0000%	8h	285.82	long leg	$611K	$157K	20x
MEXC IWM_USDT	0.0000%	8h	285.70	−0.042%	$885K	$86K	50x	as long as short
Bitget IWMUSDT	0.0000%	8h	285.75	−0.024%	$443K	$14K	20x	as long as short
Variational Omni IWM	0.0000%	8h	285.80	−0.008%	$153K	$203K	—	as long as short
SunX IWM-USDT	0.0000%	8h	285.59	−0.080%	$1K	$401K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IWM-USDT	0.0000%	8h	286.16	+0.119%	$484	$37K	20x	as long as short
Phemex IWMUSDTshort	0.0000%	8h	285.85	+0.010%	$764K	$71K	10x
Lighter IWM	+0.0032%	1h	286.00	+0.063%	$75K	$18K	10x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	285.35	−0.164%	—	—	25x	as long as short
Markets by Kinetiq mkts:SMALL2000	+0.0048%	1h	285.56	−0.091%	$566K	$403K	20x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	285.89	+0.024%	$137K	$863K	20x	as long as short
GRVT IWM_USDT_Perp	+0.0496%	8h	285.84	+0.007%	$300	$118K	10x	as long as short