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: SunX against Phemex+0.007%7-day average −0.038% · you sell dearer than you buy

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

Long on Phemex Short on SunX

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)+0.128%+$13 · spread now +0.007%, 7d avg −0.038%

Together, before fees+0.128%+$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: SunX is 0.045% dearer against Phemex than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex IWMUSDT	286.01	0	get 0.0000% / 8h	2h 02m	$766K	$80K	10x
Short	SunX IWM-USDT	286.03	0	get 0.0000% / 8h	2h 02m	$1K	$458K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.007%Rate

Funding earned: $0
Price spread: +0.007% → −0.038%: $4.45
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$15.55
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 45 min ago; SunX: live order book, 69 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 Phemex live order book, 45 min ago	2.10 bp	64.3 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 69 min ago	244.09 bp	doesn't fit	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	285.79	−0.078%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	285.64	−0.129%	$557K	$62K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	285.74	−0.094%	$400K	$120K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.95	−0.021%	$610K	$163K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	285.81	−0.070%	$443K	$15K	20x	as long as short
SunX IWM-USDTshort	0.0000%	8h	286.03	+0.007%	$1K	$458K	10x
HTX IWM-USDT	0.0000%	8h	286.06	+0.017%	$712	$37K	20x	as long as short
Phemex IWMUSDTlong	0.0000%	8h	286.01	long leg	$766K	$80K	10x
Variational Omni IWM	+0.0007%	8h	285.97	−0.012%	$160K	$207K	—	as long as short
Lighter IWM	+0.0032%	1h	285.88	−0.045%	$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	285.44	−0.199%	$566K	$363K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	285.60	−0.143%	—	—	25x	as long as short
BloFin IWM-USDT	+0.0059%	8h	286.05	+0.014%	$64K	$33K	20x	as long as short
MEXC IWM_USDT	+0.0077%	8h	285.79	−0.077%	$886K	$84K	50x	as long as short
Binance IWMUSDT	+0.0078%	8h	286.02	+0.003%	$1.1M	$1.2M	20x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	286.02	+0.003%	$139K	$849K	20x	as long as short
GRVT IWM_USDT_Perp	+0.0694%	8h	285.99	−0.007%	$286	$107K	10x	as long as short