Funding arb · Price arb /

IWM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against Phemex−0.066%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on HTX

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: HTX is 0.066% cheaper against Phemex than usual: you would sell low and buy high, −$7 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	Phemex IWMUSDT	287.75	0	get 0.0000% / 8h	5h 04m	$773K	$88K	10x
Short	HTX IWM-USDT	287.56	0	get 0.0000% / 8h	5h 04m	$543	$38K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.066%Rate

Funding earned: $0
Price spread: −0.066% → 0.000%: −$6.6
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$30.6
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 41 min ago; HTX: no order-book sample. 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 Phemex live order book, 41 min ago	4.18 bp	47.8 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell HTX no order-book sample	—	—	—	—	—

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 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	287.55	−0.069%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	287.49	−0.090%	$571K	$76K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	287.84	+0.031%	$399K	$235K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	287.66	−0.031%	$605K	$161K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	287.46	−0.101%	$446K	$18K	20x	as long as short
Variational Omni IWM	0.0000%	8h	287.65	−0.035%	$171K	$205K	—	as long as short
SunX IWM-USDT	0.0000%	8h	287.77	+0.007%	$849	$463K	10x	as long as short
HTX IWM-USDTshort	0.0000%	8h	287.56	−0.066%	$543	$38K	20x
Phemex IWMUSDTlong	0.0000%	8h	287.75	long leg	$773K	$88K	10x
Lighter IWM	+0.0032%	1h	287.99	+0.083%	$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
MEXC IWM_USDT	+0.0038%	8h	287.62	−0.045%	$889K	$86K	50x	as long as short
Binance IWMUSDT	+0.0039%	8h	287.74	−0.003%	$1.1M	$1.2M	20x	as long as short
BloFin IWM-USDT	+0.0044%	8h	287.72	−0.010%	$66K	$37K	20x	as long as short
Markets by Kinetiq mkts:SMALL2000	+0.0046%	1h	287.18	−0.198%	$510K	$383K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	287.36	−0.136%	—	$1K	25x	as long as short
GRVT IWM_USDT_Perp	+0.0063%	8h	287.57	−0.063%	$1K	$107K	10x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	287.61	−0.049%	$163K	$1.1M	20x	as long as short