IWM

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.030%

Price spread now: Phemex against KuCoin+0.011%7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$635as in the Funding arb table

Net, price: spread back to 7d avg − costs−$613as in the Price arb table

costs, in and out, $10k−$6166.157% of the position

Long on KuCoin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.193%−$19 on $10k

Price spread, last 4 days (all we have)−0.136%−$14 · spread now +0.011%, 7d avg −0.019%

Together, before fees−0.329%−$33 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.029% dearer against KuCoin than usual: you sell high and buy low (spread +0.011% now, against its 7-day average of −0.019%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IWMUSDTM	285.70	0.0100	pay 0.0100% / 8h	1h 14m	$140K	$847K	20x
Short	Phemex IWMUSDT	285.73	0	get 0.0000% / 8h	1h 14m	$765K	$81K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against KuCoin. 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 KuCoinbpFee PhemexbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$21
Price spread: +0.011% → −0.019%: $2.91
Slippage, 4 orders: −$591.72
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$633.8
Costs to cover: 6.157%
Break-even: never at this rate

Slippage from KuCoin: live order book, 10 min ago; Phemex: live order book, 28 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 KuCoin live order book, 10 min ago	2.45 bp	235.8 bp −$236	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 28 min ago	2.62 bp	49.7 bp −$50	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	285.60	−0.034%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	285.50	−0.070%	$557K	$60K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	285.32	−0.133%	$437K	$160K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.76	+0.021%	$608K	$161K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	285.68	−0.007%	$442K	$15K	20x	as long as short
Variational Omni IWM	0.0000%	8h	285.71	+0.002%	$160K	$207K	—	as long as short
SunX IWM-USDT	0.0000%	8h	285.44	−0.091%	$1K	$453K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	286.00	+0.105%	$695	$37K	20x	as long as short
Phemex IWMUSDTshort	0.0000%	8h	285.73	+0.011%	$765K	$81K	10x
Lighter IWM	+0.0032%	1h	286.10	+0.140%	$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	285.42	−0.098%	$566K	$363K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	285.46	−0.084%	—	—	25x	as long as short
MEXC IWM_USDT	+0.0072%	8h	285.69	−0.004%	$885K	$84K	50x	as long as short
Binance IWMUSDT	+0.0073%	8h	285.74	+0.014%	$1.1M	$1.2M	20x	as long as short
BloFin IWM-USDT	+0.0093%	8h	285.78	+0.028%	$67K	$33K	20x	as long as short
KuCoin IWMUSDTMlong	+0.0100%	8h	285.70	long leg	$140K	$847K	20x
GRVT IWM_USDT_Perp	+0.0578%	8h	285.67	−0.010%	$546	$104K	10x	as long as short