IWM

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC+0.0037%/8h= +4.0% APRnext payment +$0.37 per $10,000 · paid last 24h +0.008%

Price spread now: Binance against Phemex−0.013%52s7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$125as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1261.256% of the position

Long on Phemex Short on Binance

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)+0.006%+$1 · spread now −0.013%, 7d avg −0.001%

Together, before fees+0.014%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.001%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex IWMUSDT	287.22	0	get 0.0000% / 8h	5h 27m	$772K	$88K	10x
Short	Binance IWMUSDT	287.18	0.0037	get 0.0037% / 8h	5h 27m	$1.1M	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phemex. 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 PhemexbpFee BinancebpOrdersPrice spread, now −0.013%Rate

Funding earned: $7.72
Price spread: −0.013% → −0.001%: −$1.18
Slippage, 4 orders: −$103.57
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$119.03
Costs to cover: 1.256%
Break-even: 114.9 days

Slippage from Phemex: live order book, 18 min ago; Binance: live order book, 13 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 Phemex live order book, 18 min ago	4.18 bp	47.8 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	0.17 bp	9.9 bp −$10	54.6 bp −$546	doesn't fit	doesn't fit

IWM on 17 exchanges

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	287.00	−0.077%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	286.97	−0.087%	$569K	$74K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	287.35	+0.045%	$402K	$213K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	287.13	−0.031%	$604K	$159K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	287.23	+0.003%	$446K	$18K	20x	as long as short
Variational Omni IWM	0.0000%	8h	287.07	−0.053%	$171K	$215K	—	as long as short
SunX IWM-USDT	0.0000%	8h	287.21	−0.003%	$778	$464K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	287.47	+0.087%	$661	$38K	20x	as long as short
Phemex IWMUSDTlong	0.0000%	8h	287.22	long leg	$772K	$88K	10x
Lighter IWM	+0.0032%	1h	287.47	+0.087%	$75K	$3K	10x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance IWMUSDTshort	+0.0037%	8h	287.18	−0.013%	$1.1M	$1.3M	20x
MEXC IWM_USDT	+0.0037%	8h	287.14	−0.028%	$887K	$84K	50x	as long as short
Markets by Kinetiq mkts:SMALL2000	+0.0046%	1h	286.90	−0.111%	$528K	$377K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	286.87	−0.122%	—	$1K	25x	as long as short
BloFin IWM-USDT	+0.0052%	8h	287.21	−0.003%	$66K	$37K	20x	as long as short
GRVT IWM_USDT_Perp	+0.0077%	8h	287.22	0.000%	$910	$107K	10x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	286.97	−0.087%	$142K	$1.1M	20x	as long as short