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 HTX+0.045%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on HTX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.045% dearer against HTX than usual: you sell high and buy low, +$5 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX IWM-USDT	285.83	0	get 0.0000% / 8h	2h 50m	$477	$37K	20x
Short	Phemex IWMUSDT	285.96	0	get 0.0000% / 8h	2h 50m	$766K	$79K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against HTX. 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 HTXbpFee PhemexbpOrdersPrice spread, now +0.045%Rate

Funding earned: $0
Price spread: +0.045% → 0.000%: $4.55
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$19.45
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: HTX: no order-book sample; Phemex: live order book, 62 min ago. Net counts fees only.

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 HTX no order-book sample	—	—	—	—	—
Sell Phemex live order book, 62 min ago	1.22 bp	46.3 bp −$46	doesn't fit	doesn't fit	doesn't fit

HTX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	285.68	−0.054%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	285.55	−0.098%	$554K	$61K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	285.78	−0.017%	$401K	$117K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.93	+0.035%	$609K	$159K	20x	as long as short
MEXC IWM_USDT	0.0000%	8h	285.70	−0.045%	$885K	$82K	50x	as long as short
Bitget IWMUSDT	0.0000%	8h	285.87	+0.014%	$443K	$14K	20x	as long as short
Variational Omni IWM	0.0000%	8h	285.94	+0.038%	$160K	$207K	—	as long as short
SunX IWM-USDT	0.0000%	8h	285.97	+0.049%	$1K	$467K	10x	as long as short
HTX IWM-USDTlong	0.0000%	8h	285.83	long leg	$477	$37K	20x
Phemex IWMUSDTshort	0.0000%	8h	285.96	+0.045%	$766K	$79K	10x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin IWM-USDT	+0.0002%	8h	286.00	+0.059%	$65K	$32K	20x	as long as short
Binance IWMUSDT	+0.0002%	8h	285.99	+0.055%	$1.1M	$1.1M	20x	as long as short
Lighter IWM	+0.0032%	1h	285.75	−0.028%	$75K	$19K	10x	as long as short
Markets by Kinetiq mkts:SMALL2000	+0.0046%	1h	285.43	−0.140%	$566K	$371K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	285.43	−0.140%	—	—	25x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	285.91	+0.028%	$138K	$852K	20x	as long as short
GRVT IWM_USDT_Perp	+0.0640%	8h	285.92	+0.031%	$286	$108K	10x	as long as short