Funding you earn now, next payment 02:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.012%
Price spread now: Phemex against gTrade (Gains Network)−0.030%7-day average −0.014% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$200.201% of the position
Funding, last 3 days (all we have)+0.055%+$5 on $10k
+Price spread, last 3 days (all we have)−0.023%−$2 · spread now −0.030%, 7d avg −0.014%
=The price spread sits at its 7-day average of −0.014%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | gTrade (Gains Network) BTC/USD | 85,673.5 | L +0.0004% / S −0.0004% | pay 0.0001% / 1h | 15m 45s | $36.7M | — | 200x |
| Short | Phemex BTCUSDT | 85,648.1 | 0.0100 | get 0.0100% / 8h | 6h 15m | $153.1M | $480.9M | 150x |
gTrade (Gains Network) BTC/USD
Phemex BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against gTrade (Gains Network). 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
- $20.06
- Price spread: −0.030% → −0.014%
- −$1.58
- Slippage, 4 orders
- −$1.15
- Fee gTrade (Gains Network): 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$1.66
- Costs to cover
- 0.201%
- Break-even
- 7.6 days
Slippage from gTrade (Gains Network): virtual book (oracle venue), 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 gTrade (Gains Network) virtual book (oracle venue), 3 min ago | 0.51 bp | 4.0 bp −$4 | 4.1 bp −$41 | 4.5 bp −$446 | 6.4 bp −$3,182 |
| Sell Phemex live order book, 3 min ago | 0.01 bp | 6.0 bp −$6 | 6.7 bp −$67 | 7.9 bp −$792 | doesn't fit |
BTC on 55 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0144% | 1h | 85,785 | +0.130% | $2.2M | $10.5M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,681 | +0.009% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0064% | 1h | 85,668.9 | −0.005% | $362K | $2.3M | 50x | as long as short |
| dYdX BTC-USD | +0.0002% | 1h | 85,649.4 | −0.028% | $16.8M | $21.0M | 50x | as long as short |
| gTrade (Gains Network) BTC/USDlong | L +0.0004% / S −0.0004% | 1h | 85,673.5 | long leg | $36.7M | — | 200x | |
| Injective BTC/USDC PERP | +0.0020% | 1h | 85,691 | +0.020% | $340K | $26.9M | 52x | as long as short |
| KuCoin XBTUSDTM | +0.0030% | 8h | 85,626.4 | −0.055% | $900.3M | $753.8M | 125x | as long as short |
| Aster BTCUSDT | +0.0031% | 8h | 85,631 | −0.050% | $515.8M | $1.14B | 200x | as long as short |
| Nado BTC-PERP | +0.0042% | 1h | 85,690.3 | +0.020% | $22.6M | $227.6M | 50x | as long as short |
| RISEx BTC/USDC | +0.0044% | 1h | 85,662.3 | −0.013% | $8.1M | $42.1M | 25x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
dYdX BTC-USD
Injective BTC/USDC PERP
KuCoin XBTUSDTM
Aster BTCUSDT
Nado BTC-PERP
RISEx BTC/USDCShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0055% | 8h | 85,625.3 | −0.056% | — | $17.1M | — | as long as short |
| HTX BTC-USDT | +0.0059% | 8h | 85,657.3 | −0.019% | $2.27B | $947.7M | 200x | as long as short |
| Reya BTCRUSDPERP | +0.0059% | 1h | 85,665.9 | −0.009% | $6.7M | $146.3M | 40x | as long as short |
| Bitget BTCUSDT | +0.0070% | 8h | 85,636.9 | −0.043% | $2.95B | $5.08B | 150x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,645.5 | −0.033% | $2.5M | $1.8M | 20x | as long as short |
| MEXC BTC_USDT | +0.0089% | 8h | 85,636.3 | −0.043% | $5.08B | $5.75B | 500x | as long as short |
| Binance BTCUSDT | +0.0090% | 8h | 85,635.8 | −0.044% | $9.33B | $24.28B | 150x | as long as short |
| ApeX Omni BTCUSDT | +0.0091% | 1h | 85,637.3 | −0.042% | $140.0M | $318.1M | 100x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,641.6 | −0.037% | $170.5M | $993.0M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,650.3 | −0.027% | $23.5M | $147.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,674 | +0.001% | $8.4M | $51.9M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,637 | −0.043% | $202K | $7.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,653.8 | −0.023% | $3.8M | $8.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,712 | +0.045% | $3.76B | $4.98B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,674.4 | +0.001% | $40.8M | $571.9M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,648.9 | −0.029% | $5.31B | $9.74B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,646 | −0.032% | $2.54B | $12.33B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,638 | −0.041% | $3.9M | $18.3M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,609.1 | −0.075% | $7.2M | $97.5M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,647.2 | −0.031% | $5.59B | $10.57B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,635.7 | −0.044% | $35.3M | $166.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,650.8 | −0.026% | $156.5M | $556.1M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,614.3 | −0.069% | $278.4M | $941.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,656.6 | −0.020% | $214.9M | $164.7M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,640 | −0.039% | $30.3M | $208.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,728.8 | +0.065% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,673 | −0.001% | $11.0M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,676 | +0.003% | $187K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,657.7 | −0.018% | $2.4M | $9.1M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,693.7 | +0.024% | $186K | $708K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,649.3 | −0.028% | $29.9M | $56.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,635.6 | −0.044% | $2.9M | $6.6M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,650 | −0.027% | $60.0M | $336.9M | 40x | as long as short |
| Phemex BTCUSDTshort | +0.0100% | 8h | 85,648.1 | −0.030% | $153.1M | $480.9M | 150x | |
| Bulk BTC-USD | +0.0100% | 1h | 85,673.6 | 0.000% | $597.8M | $234.3M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,612.6 | −0.071% | $44.0M | $227.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,683.1 | +0.011% | — | $101.8M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,679.9 | +0.007% | $131.2M | $5.15B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0144% | 1h | 85,681.7 | +0.010% | $694K | $7.8M | 30x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0146% | 1h | 85,666.7 | −0.008% | $187.8M | $963.5M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0171% | 1h | 85,705.8 | +0.038% | $78K | $219K | 20x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0203% / S −0.0189% | 1h | 85,672.1 | −0.002% | $13.5M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0212% | 8h | 85,694 | +0.024% | $10.2M | $770.4M | 6.4x | as long as short |
| Deribit BTC-PERPETUAL | +0.0224% | 1h | 85,692.8 | +0.023% | $894.7M | $1.54B | 50x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,687.2 | +0.016% | $513K | $20.5M | 6.7x | as long as short |
BingX BTC-USDC
HTX BTC-USDT
Reya BTCRUSDPERP
Bitget BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
ApeX Omni BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
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
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hibachi BTC/USDT-P
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Deribit BTC-PERPETUAL
Perpl BTC