Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Phemex against dYdX−0.081%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.094%+$9 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phemex is 0.081% cheaper against dYdX than usual: you would sell low and buy high (spread −0.081% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 2.7 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.094% in total) that is about 6.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ARB-USD	0.2230	0	get 0.0000% / 1h	47m 03s	$66K	$4K	10x
Short	Phemex ARBUSDT	0.2228	0.0100	get 0.0100% / 8h	1h 47m	$5.2M	$13.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against dYdX. 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 dYdXbpFee PhemexbpOrdersPrice spread, now −0.081%Rate

Funding earned: $21
Price spread: −0.081% → 0.000%: −$8.07
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$9.07
Costs to cover: 0.220%
Break-even: 10.0 days

Slippage unknown: dYdX: no order-book sample; Phemex: live order book, 2 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 dYdX no order-book sample	—	—	—	—	—
Sell Phemex live order book, 2 min ago	4.50 bp	11.2 bp −$11	23.0 bp −$230	doesn't fit	doesn't fit

dYdX: 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.

ARB on 36 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
Injective ARB/USDC PERP	−0.1770%	1h	0.2215	−0.664%	$40K	$283K	12x	as long as short
01 Exchange ARBUSD	−0.0240%	1h	0.2230	+0.005%	$7K	$2K	10x	as long as short
Variational Omni ARB	−0.0154%	8h	0.2222	−0.360%	$1.9M	$2.8M	—	as long as short
Bybit ARBUSDT	−0.0136%	8h	0.2228	−0.085%	$57.3M	$136.1M	50x	as long as short
SoDEX ARB-USD	−0.0127%	1h	0.2227	−0.117%	$4K	$2.8M	5x	as long as short
MEXC ARB_USDT	−0.0108%	8h	0.2228	−0.063%	$36.6M	$62.1M	200x	as long as short
OKX ARB-USDT-SWAP	−0.0106%	8h	0.2228	−0.067%	$22.2M	$163.2M	50x	as long as short
Polymarket Perps ARB-USD	−0.0072%	1h	0.2229	−0.022%	$76K	$2.2M	10x	as long as short
Orderly PERP_ARB_USDC	−0.0024%	8h	0.2228	−0.081%	$11K	$393K	10x	as long as short
Extended ARB-USD	−0.0016%	1h	0.2228	−0.077%	$355K	$2.4M	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ARBUSDT	−0.0014%	8h	0.2229	−0.049%	$63.5M	$322.9M	75x	as long as short
dYdX ARB-USDlong	0.0000%	1h	0.2230	long leg	$66K	$4K	10x
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2229	−0.036%	$26K	$32K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2229	−0.021%	$55K	—	150x	as long as short
Gate ARB_USDT	+0.0018%	8h	0.2229	−0.036%	$5.5M	$20.6M	60x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2230	0.000%	$146K	$12K	3x	as long as short
Bitget ARBUSDT	+0.0083%	8h	0.2229	−0.036%	$20.9M	$38.0M	50x	as long as short
Kraken Futures PF_ARBUSD	+0.0085%	1h	0.2230	−0.003%	$1.1M	$5.2M	50x	as long as short
BingX ARB-USDC	+0.0088%	8h	0.2228	−0.103%	—	$6.5M	—	as long as short
Lighter ARB	+0.0096%	1h	0.2229	−0.049%	$1.3M	$7.3M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2231	+0.058%	$39.8M	$52.2M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2228	−0.092%	$692K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2230	−0.013%	$44K	$197K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2230	0.000%	$20.5M	$16.9M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2223	−0.317%	$36K	$459K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2223	−0.298%	$478K	$4.0M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2222	−0.350%	$120K	$294K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2230	+0.009%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2229	−0.022%	$275K	$1.2M	50x	as long as short
Phemex ARBUSDTshort	+0.0100%	8h	0.2228	−0.081%	$5.2M	$13.5M	50x
BloFin ARB-USDT	+0.0106%	8h	0.2229	−0.049%	$3.0M	$3.3M	75x	as long as short
Coinbase International ARB-PERP-INTX	+0.0264%	1h	0.2229	−0.036%	$506K	$2.5M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0274% / S −0.0157%	1h	0.2229	−0.041%	$834K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0291%	1h	0.2229	−0.058%	$2K	$695	20x	as long as short
RISEx ARB/USDC	+0.0363%	1h	0.2232	+0.107%	$492K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0579%	1h	0.2232	+0.094%	$1.1M	$2.7M	20x	as long as short