Funding you earn now, next payment 08:00 UTC+0.0093%/8h= +10.2% APRnext payment +$0.93 per $10,000 · paid last 24h −0.002%
Price spread now: Phemex against Aster+0.031%7-day average −0.002% · you sell dearer than you buy
Net, funding: paid 7d − costs−$24as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$220.223% of the position
Funding, last 7 days−0.020%−$2 on $10k
+Price spread, last 4 days (all we have)−0.056%−$6 · spread now +0.031%, 7d avg −0.002%
=Together, before fees−0.076%+ Points / potential airdropAster: Stage 5 · farm board−$8 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phemex is 0.033% dearer against Aster than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.002%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Aster BTCUSDT | 85,138.5 | −0.0015 | get 0.0015% / 8h | 2h 31m | $511.8M | $1.09B | 200x |
| Short | Phemex BTCUSDT | 85,164.6 | 0.0078 | get 0.0078% / 8h | 2h 31m | $148.7M | $504.2M | 150x |
Aster BTCUSDT
Phemex BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Aster. 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
- $19.59
- Price spread: +0.031% → −0.002%
- $3.26
- Slippage, 4 orders
- −$2.27
- Fee Aster: 4 bp × 2 orders
- −$8
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- $0.58
- Costs to cover
- 0.223%
- Break-even
- 6.8 days
Slippage from Aster: live order book, 3 min ago; Phemex: live order book, 3 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 Aster live order book, 3 min ago | 0.69 bp | 5.4 bp −$5 | 6.9 bp −$69 | 7.8 bp −$777 | 10.7 bp −$5,326 |
| Sell Phemex live order book, 3 min ago | 0.01 bp | 6.0 bp −$6 | 7.0 bp −$70 | 9.2 bp −$919 | doesn't fit |
BTC on 56 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 | |
|---|---|---|---|---|---|---|---|---|
| Perpl BTC | −0.0112% | 43m | 85,171.5 | +0.039% | $525K | $18.6M | 6.7x | as long as short |
| Phoenix BTC | −0.0111% | 1h | 85,177 | +0.045% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,161 | +0.026% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0053% | 8h | 85,140.2 | +0.002% | $921.7M | $763.3M | 125x | as long as short |
| BloFin BTC-USDT | −0.0034% | 8h | 85,168.2 | +0.035% | $420.7M | $679.1M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 85,162.7 | +0.028% | $373K | $2.3M | 50x | as long as short |
| Aster BTCUSDTlong | −0.0015% | 8h | 85,138.5 | long leg | $511.8M | $1.09B | 200x | |
| dYdX BTC-USD | +0.0001% | 1h | 85,176.4 | +0.044% | $16.7M | $21.7M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,202.5 | +0.075% | $36.4M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0022% | 1h | 85,152 | +0.016% | $24.7M | $222.9M | 50x | as long as short |
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Nado BTC-PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0023% | 1h | 85,225 | +0.102% | $338K | $26.8M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0056% | 1h | 85,184.8 | +0.054% | $187.0M | $955.3M | 100x | as long as short |
| BingX BTC-USDC | +0.0066% | 8h | 85,129.4 | −0.011% | — | $17.4M | — | as long as short |
| Phemex BTCUSDTshort | +0.0078% | 8h | 85,164.6 | +0.031% | $148.7M | $504.2M | 150x | |
| Bullet BTC-USD | +0.0079% | 1h | 85,189.8 | +0.060% | $205K | $3.3M | 20x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,151.4 | +0.015% | $2.4M | $6.7M | 20x | as long as short |
| SoDEX BTC-USD | +0.0080% | 1h | 85,168 | +0.035% | $59.6M | $335.8M | 40x | as long as short |
| MEXC BTC_USDT | +0.0084% | 8h | 85,147.6 | +0.011% | $5.05B | $5.70B | 500x | as long as short |
| Bitget BTCUSDT | +0.0084% | 8h | 85,137.2 | −0.002% | $2.95B | $5.18B | 150x | as long as short |
| Binance BTCUSDT | +0.0085% | 8h | 85,145.1 | +0.008% | $9.40B | $24.81B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,160.1 | +0.025% | $170.8M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,162.8 | +0.029% | $23.7M | $148.3M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,150 | +0.013% | $8.3M | $55.7M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0096% | 1h | 85,206 | +0.079% | $116.9M | $5.34B | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,133 | −0.006% | $239K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,209.4 | +0.083% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,217 | +0.092% | $3.74B | $5.07B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,184 | +0.053% | $40.1M | $595.5M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,130.3 | −0.010% | $5.15B | $9.93B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,141.1 | +0.003% | $2.58B | $12.17B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,152 | +0.016% | $3.8M | $17.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,157.7 | +0.023% | $4.6M | $99.1M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,183.8 | +0.053% | $678.4M | $603.6M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,154.1 | +0.018% | $5.49B | $10.92B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,163.2 | +0.029% | $36.0M | $174.8M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,263.5 | +0.147% | $156.5M | $568.3M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,133.5 | −0.006% | $278.8M | $944.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,147 | +0.010% | $214.0M | $168.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,125.3 | −0.015% | $139.1M | $315.2M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,149.5 | +0.013% | $30.0M | $205.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,215.7 | +0.091% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,140 | +0.002% | $11.0M | $14.4M | 50x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,185.9 | +0.056% | $2.5M | $9.3M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,221.2 | +0.097% | $217K | $749K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,149.8 | +0.013% | $29.9M | $49.7M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,155.7 | +0.020% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,175 | +0.043% | $2.25B | $948.2M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,120.6 | −0.021% | $45.3M | $238.5M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,214.8 | +0.090% | — | $106.8M | 500x | as long as short |
| Reya BTCRUSDPERP | +0.0114% | 1h | 85,133.8 | −0.006% | $6.6M | $147.4M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0133% | 1h | 85,204 | +0.077% | $872.4M | $1.61B | 50x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,193.6 | +0.065% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0179% | 8h | 85,218 | +0.093% | $11.3M | $744.8M | 6.4x | as long as short |
| Aftermath Perps BTCUSD | +0.0211% | 1h | 85,260.1 | +0.143% | $79K | $225K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0224% | 1h | 85,227.6 | +0.105% | $717K | $8.0M | 30x | as long as short |
| RISEx BTC/USDC | +0.0257% | 1h | 85,177.7 | +0.046% | $8.6M | $43.1M | 25x | as long as short |
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSD
BingX BTC-USDC
Bullet BTC-USD
Aevo BTC-PERP
SoDEX BTC-USD
MEXC BTC_USDT
Bitget BTCUSDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Coinbase International BTC-PERP-INTX
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Reya BTCRUSDPERP
Deribit BTC-PERPETUAL
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
RISEx BTC/USDC