Funding you earn now, next payment 02:00 UTC+0.0210%/8h= +23.0% APRpaid last 24h −0.025%
Price spread now: Kraken Futures against Phemex+0.203%7-day average +0.051% · you sell dearer than you buy
Net, funding: paid 7d − costs−$96as in the Funding arb table
Net, price: spread back to 7d avg − costs−$73as in the Price arb table
costs, in and out, $10k−$880.882% of the position
Funding, last 7 days−0.075%−$8 on $10k
+Price spread, last 3 days (all we have)−0.213%−$21 · spread now +0.203%, 7d avg +0.051%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Kraken Futures is 0.153% dearer against Phemex than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.051%. Mind the row above: over the last 7 days funding on this pair cost −0.075%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.075% in total (about -3.9% a year). A funding rate is set anew for every payment. 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 | Phemex ARBUSDT | 0.2221 | 0.0100 | pay 0.0100% / 8h | 6h 39m | $5.0M | $13.0M | 50x |
| Short | Kraken Futures PF_ARBUSD | 0.2226 | 0.0310 | get 0.0039% / 1h | 39m 03s | $1.1M | $4.8M | 50x |
Phemex ARBUSDT
Kraken Futures PF_ARBUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- $44.2
- Price spread: +0.203% → +0.051%
- $15.27
- Slippage, 4 orders
- −$66.24
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$28.77
- Costs to cover
- 0.882%
- Break-even
- 11.6 days
Slippage from Phemex: live order book, 5 min ago; Kraken Futures: live order book, 5 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, 5 min ago | 6.75 bp | 21.1 bp −$21 | 39.2 bp −$392 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 5 min ago | 11.70 bp | 19.5 bp −$19 | 25.4 bp −$254 | 455.0 bp −$45.5K | 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 | −0.1692% | 1h | 0.2211 | −0.450% | $40K | $372K | 12x | as long as short |
| ApeX Omni ARBUSDT | −0.0289% | 1h | 0.2222 | +0.045% | $120K | $296K | 50x | as long as short |
| 01 Exchange ARBUSD | −0.0232% | 1h | 0.2219 | −0.077% | $7K | $2K | 10x | as long as short |
| SoDEX ARB-USD | −0.0190% | 1h | 0.2224 | +0.153% | $10K | $2.5M | 5x | as long as short |
| Variational Omni ARB | −0.0179% | 8h | 0.2218 | −0.148% | $1.9M | $2.9M | — | as long as short |
| OKX ARB-USDT-SWAP | −0.0106% | 8h | 0.2221 | +0.014% | $22.4M | $157.9M | 50x | as long as short |
| MEXC ARB_USDT | −0.0105% | 8h | 0.2222 | +0.041% | $36.9M | $59.1M | 200x | as long as short |
| Bybit ARBUSDT | −0.0057% | 8h | 0.2222 | +0.054% | $57.2M | $129.1M | 50x | as long as short |
| Orderly PERP_ARB_USDC | −0.0056% | 8h | 0.2224 | +0.135% | $12K | $380K | 10x | as long as short |
| Gate ARB_USDT | −0.0019% | 8h | 0.2223 | +0.113% | $5.4M | $19.7M | 60x | as long as short |
Injective ARB/USDC PERP
ApeX Omni ARBUSDT
01 Exchange ARBUSD
SoDEX ARB-USD
Variational Omni ARB
OKX ARB-USDT-SWAP
MEXC ARB_USDT
Bybit ARBUSDT
Orderly PERP_ARB_USDC
Gate ARB_USDTShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX ARB-USD | 0.0000% | 1h | 0.2224 | +0.119% | $66K | $5K | 10x | as long as short |
| Deribit ARB_USDC-PERPETUAL | 0.0000% | 1h | 0.2225 | +0.180% | $24K | $34K | 25x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0005% | 1h | 0.2225 | +0.158% | $32K | — | 150x | as long as short |
| Binance ARBUSDT | +0.0005% | 8h | 0.2223 | +0.096% | $64.9M | $318.4M | 75x | as long as short |
| Extended ARB-USD | +0.0008% | 1h | 0.2221 | +0.007% | $355K | $2.5M | 25x | as long as short |
| BloFin ARB-USDT | +0.0029% | 8h | 0.2212 | −0.428% | $3.1M | $2.9M | 75x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2225 | +0.189% | $141K | $7K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2224 | +0.140% | $1.2M | $7.4M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2226 | +0.212% | $38.3M | $50.4M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2223 | +0.078% | $662K | $1.7M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2222 | +0.043% | $42K | $188K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2225 | +0.176% | $19.7M | $15.9M | 75x | as long as short |
| Bitget ARBUSDT | +0.0100% | 8h | 0.2223 | +0.090% | $21.2M | $36.3M | 50x | as long as short |
| BingX ARB-USDC | +0.0100% | 8h | 0.2222 | +0.032% | — | $6.5M | — | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2222 | +0.033% | $40K | $460K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2220 | −0.024% | $473K | $3.6M | 10x | as long as short |
| Polymarket Perps ARB-USD | +0.0100% | 1h | 0.2225 | +0.167% | $92K | $2.1M | 10x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2219 | −0.090% | $1K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2225 | +0.167% | $297K | $1.0M | 50x | as long as short |
| Phemex ARBUSDTlong | +0.0100% | 8h | 0.2221 | long leg | $5.0M | $13.0M | 50x | |
| Coinbase International ARB-PERP-INTX | +0.0240% | 1h | 0.2223 | +0.090% | $508K | $2.2M | 50x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0273% / S −0.0155% | 1h | 0.2225 | +0.168% | $829K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2223 | +0.106% | $2K | $695 | 20x | as long as short |
| Kraken Futures PF_ARBUSDshort | +0.0310% | 1h | 0.2226 | +0.203% | $1.1M | $4.8M | 50x | |
| RISEx ARB/USDC | +0.0466% | 1h | 0.2221 | +0.021% | $462K | $2.6M | 10x | as long as short |
| Backpack ARB_USDC_PERP | +0.0529% | 1h | 0.2227 | +0.270% | $1.0M | $2.9M | 20x | as long as short |
dYdX ARB-USD
Deribit ARB_USDC-PERPETUAL
gTrade (Gains Network) ARB/USD
Binance ARBUSDT
Extended ARB-USD
BloFin ARB-USDT
Aevo ARB-PERP
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
Bitget ARBUSDT
BingX ARB-USDC
edgeX ARBUSDC
GRVT ARB_USDT_Perp
Polymarket Perps ARB-USD
SunX ARB-USDT
HTX ARB-USDT
Coinbase International ARB-PERP-INTX
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP
RISEx ARB/USDC
Backpack ARB_USDC_PERP