Funding you earn now, next payment 08:00 UTC+0.0050%/8h= +5.5% APRnext payment +$0.50 per $10,000 · paid last 24h +0.015%
Price spread now: Binance against Phemex+0.106%7-day average +0.010% · you sell dearer than you buy
Net, funding: paid 7d − costs−$127as in the Funding arb table
Net, price: spread back to 7d avg − costs−$128as in the Price arb table
costs, in and out, $10k−$1371.371% of the position
Funding, last 7 days+0.105%+$11 on $10k
+Price spread, last 2 days (all we have)−0.094%−$9 · spread now +0.106%, 7d avg +0.010%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Binance is 0.096% dearer against Phemex than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.010%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex OPENAIUSDT | 1,623.8 | 0 | get 0.0000% / 8h | 6h 47m | $1.6M | $562K | 10x |
| Short | Binance OPENAIUSDT | 1,625.5 | 0.0050 | get 0.0050% / 8h | 6h 47m | $23.0M | $19.0M | 20x |
Phemex OPENAIUSDT
Binance OPENAIUSDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $10.5
- Price spread: +0.106% → +0.010%
- $9.55
- Slippage, 4 orders
- −$115.14
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$117.08
- Costs to cover
- 1.371%
- Break-even
- 85.1 days
Slippage from Phemex: live order book, 1 min ago; Binance: live order book, 9 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, 1 min ago | 3.69 bp | 65.3 bp −$65 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 9 min ago | 0.98 bp | 10.8 bp −$11 | 57.4 bp −$574 | doesn't fit | doesn't fit |
OPENAI on 22 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 | |
|---|---|---|---|---|---|---|---|---|
| QFEX OPENAI-USD | −0.0004% | 1h | 1,623.8 | +0.006% | $1.2M | $420K | 10x | as long as short |
| Lighter OPENAI | 0.0000% | 1h | 1,712.5 | +5.464% | $1.4M | $280K | 5x | as long as short |
| Bybit OPENAIUSDT | 0.0000% | 8h | 1,667.6 | +2.700% | $765K | $205K | 25x | as long as short |
| OKX OPENAI-USDT-SWAP | 0.0000% | 8h | 1,653 | +1.801% | $5.1M | $1.3M | 20x | as long as short |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,621.1 | −0.166% | $52.5M | $31.7M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,625.6 | +0.113% | $5.5M | $5.1M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,626.7 | +0.182% | — | $2.5M | 10x | as long as short |
| Deribit OPENAI_USDC-PERPETUAL | 0.0000% | 1h | 1,624.1 | +0.020% | — | $3 | 5x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,627.1 | +0.204% | $79K | $216K | 20x | as long as short |
| Phemex OPENAIUSDTlong | 0.0000% | 8h | 1,623.8 | long leg | $1.6M | $562K | 10x |
QFEX OPENAI-USD
Lighter OPENAI
Bybit OPENAIUSDT
OKX OPENAI-USDT-SWAP
Gate OPENAI_USDT
Bitget OPENAIUSDT
SunX OPENAI-USDT
Deribit OPENAI_USDC-PERPETUAL
HTX OPENAI-USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International OPENAI-PERP-INTX | +0.0024% | 1h | 1,625.3 | +0.097% | $222K | $155K | 5x | as long as short |
| Lighter RH OPENAI | +0.0032% | 1h | 1,680.2 | +3.473% | $2.7M | $6.1M | 5x | as long as short |
| Extended OPENAI-USD | +0.0048% | 1h | 1,625.4 | +0.104% | $136K | $722K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,629.9 | +0.376% | $212K | $3K | 20x | as long as short |
| Binance OPENAIUSDTshort | +0.0050% | 8h | 1,625.5 | +0.106% | $23.0M | $19.0M | 20x | |
| MEXC OPENAI_USDT | +0.0050% | 8h | 1,624.1 | +0.020% | $13.1M | $3.2M | 50x | as long as short |
| KuCoin OPENAIUSDTM | +0.0050% | 8h | 1,632.1 | +0.512% | $380K | $67K | 20x | as long as short |
| Variational Omni OPENAI | +0.0050% | 8h | 1,628.2 | +0.273% | $2.6M | $757K | — | as long as short |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,627.4 | +0.222% | $2K | $137K | 10x | as long as short |
| BloFin OPENAI-USDT | +0.0059% | 8h | 1,629.3 | +0.339% | $477K | $280K | 20x | as long as short |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,624.7 | +0.058% | — | — | 10x | as long as short |
| Entropy io:OAI | +0.0146% | 1h | 1,673.2 | +3.045% | $7.4M | $2.2M | 6x | as long as short |
Coinbase International OPENAI-PERP-INTX
Lighter RH OPENAI
Extended OPENAI-USD
Aster OPENAIUSDT
MEXC OPENAI_USDT
KuCoin OPENAIUSDTM
Variational Omni OPENAI
GRVT OPENAI_USDT_Perp
BloFin OPENAI-USDT
Aevo OPENAI-PERP
Entropy io:OAI