Funding you earn now, next payment 08:00 UTC+0.0187%/8h= +20.5% APRnext payment +$1.87 per $10,000 · paid last 24h +0.045%
Price spread now: Phemex against MEXC−0.036%7-day average +0.030% · you buy dearer than you sell
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$310.308% of the position
Funding, last 7 days+0.101%+$10 on $10k
+Price spread, last 4 days (all we have)+0.574%+$57 · spread now −0.036%, 7d avg +0.030%
=Funding pays, the price is against you. Phemex is 0.066% cheaper against MEXC than usual: you would sell low and buy high (spread −0.036% now, against its 7-day average of +0.030%). If the spread goes back, that is −$7 on $10k: about 28 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.101% in total) that is about 4.6 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.101% in total (about 5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.87 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | MEXC ARB_USDT | 0.2202 | −0.0087 | get 0.0087% / 8h | 1h 16m | $41.7M | $62.2M | 200x |
| Short | Phemex ARBUSDT | 0.2201 | 0.0100 | get 0.0100% / 8h | 1h 16m | $4.9M | $12.9M | 50x |
MEXC ARB_USDT
Phemex ARBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against MEXC. 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
- $39.27
- Price spread: −0.036% → +0.030%
- −$6.63
- Slippage, 4 orders
- −$18.77
- Fee MEXC: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- $1.87
- Costs to cover
- 0.308%
- Break-even
- 6.7 days
Slippage from MEXC: live order book, 2 min ago; Phemex: live order book, 2 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 MEXC live order book, 2 min ago | 0.23 bp | 1.0 bp −$1 | 11.1 bp −$111 | 39.3 bp −$3,929 | 69.6 bp −$34.8K |
| Sell Phemex live order book, 2 min ago | 6.81 bp | 15.1 bp −$15 | 30.9 bp −$309 | doesn't fit | doesn't fit |
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 | −0.1592% | 1h | 0.2193 | −0.400% | $40K | $372K | 12x | as long as short |
| Polymarket Perps ARB-USD | −0.0194% | 1h | 0.2200 | −0.064% | $67K | $2.1M | 10x | as long as short |
| 01 Exchange ARBUSD | −0.0136% | 1h | 0.2201 | −0.050% | $7K | $236 | 10x | as long as short |
| SoDEX ARB-USD | −0.0126% | 1h | 0.2202 | −0.009% | $9K | $2.2M | 5x | as long as short |
| MEXC ARB_USDTlong | −0.0087% | 8h | 0.2202 | long leg | $41.7M | $62.2M | 200x | |
| OKX ARB-USDT-SWAP | −0.0087% | 8h | 0.2201 | −0.018% | $22.1M | $145.6M | 50x | as long as short |
| Variational Omni ARB | −0.0049% | 8h | 0.2205 | +0.166% | $1.8M | $3.0M | — | as long as short |
| Orderly PERP_ARB_USDC | −0.0040% | 8h | 0.2201 | −0.036% | $13K | $409K | 10x | as long as short |
| Bybit ARBUSDT | −0.0009% | 8h | 0.2202 | 0.000% | $54.1M | $126.5M | 50x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2203 | +0.064% | $65K | $5K | 10x | as long as short |
Injective ARB/USDC PERP
Polymarket Perps ARB-USD
01 Exchange ARBUSD
SoDEX ARB-USD
OKX ARB-USDT-SWAP
Variational Omni ARB
Orderly PERP_ARB_USDC
Bybit ARBUSDT
dYdX ARB-USDShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit ARB_USDC-PERPETUAL | 0.0000% | 1h | 0.2202 | +0.023% | $28K | $38K | 25x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0009% | 1h | 0.2203 | +0.041% | $45K | — | 150x | as long as short |
| Gate ARB_USDT | +0.0032% | 8h | 0.2202 | +0.005% | $5.4M | $18.5M | 60x | as long as short |
| RISEx ARB/USDC | +0.0056% | 1h | 0.2202 | +0.002% | $484K | $2.6M | 10x | as long as short |
| Extended ARB-USD | +0.0056% | 1h | 0.2201 | −0.040% | $352K | $2.8M | 25x | as long as short |
| Binance ARBUSDT | +0.0056% | 8h | 0.2202 | +0.025% | $63.0M | $302.1M | 75x | as long as short |
| BingX ARB-USDT | +0.0065% | 8h | 0.2202 | 0.000% | — | $33.2M | — | as long as short |
| Bitget ARBUSDT | +0.0066% | 8h | 0.2202 | +0.009% | $21.3M | $34.7M | 50x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2202 | +0.014% | $1.2M | $5.5M | 15x | as long as short |
| Aevo ARB-PERP | +0.0096% | 1h | 0.2202 | +0.007% | $140K | $7K | 3x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2204 | +0.095% | $37.3M | $49.3M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2204 | +0.121% | $633K | $1.7M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2203 | +0.035% | $43K | $148K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2202 | +0.027% | $19.6M | $14.3M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2205 | +0.154% | $39K | $464K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2207 | +0.256% | $480K | $3.6M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2205 | +0.145% | $119K | $280K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2204 | +0.100% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2204 | +0.100% | $294K | $859K | 50x | as long as short |
| Phemex ARBUSDTshort | +0.0100% | 8h | 0.2201 | −0.036% | $4.9M | $12.9M | 50x | |
| BloFin ARB-USDT | +0.0176% | 8h | 0.2203 | +0.036% | $3.0M | $2.3M | 75x | as long as short |
| Kraken Futures PF_ARBUSD | +0.0231% | 1h | 0.2203 | +0.073% | $1.1M | $4.4M | 50x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0276% / S −0.0158% | 1h | 0.2202 | +0.017% | $831K | — | 150x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0288% | 1h | 0.2205 | +0.136% | $525K | $1.5M | 50x | as long as short |
| Reya ARBRUSDPERP | +0.0289% | 1h | 0.2200 | −0.075% | $2K | $695 | 20x | as long as short |
| Backpack ARB_USDC_PERP | +0.0604% | 1h | 0.2205 | +0.168% | $991K | $2.8M | 20x | as long as short |
Deribit ARB_USDC-PERPETUAL
gTrade (Gains Network) ARB/USD
Gate ARB_USDT
RISEx ARB/USDC
Extended ARB-USD
Binance ARBUSDT
BingX ARB-USDT
Bitget ARBUSDT
Lighter ARB
Aevo ARB-PERP
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
ApeX Omni ARBUSDT
SunX ARB-USDT
HTX ARB-USDT
BloFin ARB-USDT
Kraken Futures PF_ARBUSD
GMX ARB/USD [ARB-USDC]
Coinbase International ARB-PERP-INTX
Reya ARBRUSDPERP
Backpack ARB_USDC_PERP