Funding you earn now, next payment 06:00 UTC−0.0019%/8h= −2.1% APRpaid last 24h −0.017%
Price spread now: Phemex against Vest−0.061%7-day average −0.016% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.006%−$1 on $10k
+Price spread, last 4 days (all we have)+0.057%+$6 · spread now −0.061%, 7d avg −0.016%
=Together, before fees+0.052%+ Points / potential airdropVest: Active · farm board+$5 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.045% cheaper against Vest than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.016%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Vest BTC-PERP | 85,554.2 | 0.0100 | pay 0.0013% / 1h | 3m 21s | — | $10.9M | 50x |
| Short | Phemex BTCUSDT | 85,502.2 | 0.0081 | get 0.0081% / 8h | 2h 03m | $149.1M | $507.1M | 150x |
Vest BTC-PERP
Phemex BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Vest. 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
- −$3.94
- Price spread: −0.061% → −0.016%
- −$4.46
- Slippage, 4 orders
- no order book: not counted
- Fee Vest: 1 bp × 2 orders
- −$2
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$22.4
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Vest: no order-book sample; Phemex: live order book, 6 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 Vest no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 6 min ago | 0.01 bp | 6.0 bp −$6 | 6.0 bp −$60 | 7.8 bp −$776 | doesn't fit |
Vest: 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.
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 | 85,494.2 | −0.070% | $528K | $18.3M | 6.7x | as long as short |
| Phoenix BTC | −0.0111% | 1h | 85,577 | +0.027% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,524 | −0.035% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0051% | 8h | 85,479.4 | −0.088% | $928.9M | $771.9M | 125x | as long as short |
| BloFin BTC-USDT | −0.0023% | 8h | 85,517.3 | −0.043% | $417.9M | $684.0M | 150x | as long as short |
| Aster BTCUSDT | −0.0007% | 8h | 85,484.8 | −0.081% | $514.1M | $1.09B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,500.7 | −0.063% | $354K | $2.4M | 50x | as long as short |
| dYdX BTC-USD | +0.0002% | 1h | 85,535.9 | −0.021% | $16.8M | $21.4M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,500 | −0.063% | $36.5M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 85,514 | −0.047% | $339K | $26.8M | 52x | as long as short |
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0042% | 1h | 85,479.1 | −0.088% | $24.7M | $222.6M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0056% | 1h | 85,517.8 | −0.043% | $188.3M | $954.2M | 100x | as long as short |
| Deribit BTC-PERPETUAL | +0.0064% | 1h | 85,538.2 | −0.019% | $869.0M | $1.62B | 50x | as long as short |
| BingX BTC-USDT | +0.0069% | 8h | 85,491.1 | −0.074% | — | $1.56B | — | as long as short |
| Phemex BTCUSDTshort | +0.0081% | 8h | 85,502.2 | −0.061% | $149.1M | $507.1M | 150x | |
| Bitget BTCUSDT | +0.0087% | 8h | 85,497.4 | −0.066% | $2.96B | $5.18B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,501 | −0.062% | $171.3M | $1.03B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,507.1 | −0.055% | $23.7M | $149.3M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,489 | −0.076% | $8.4M | $55.9M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,490.9 | −0.074% | $2.4M | $6.7M | 20x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0096% | 1h | 85,548 | −0.007% | $117.1M | $5.46B | 50x | as long as short |
| MEXC BTC_USDT | +0.0097% | 8h | 85,488.6 | −0.077% | $5.00B | $5.77B | 500x | as long as short |
| Binance BTCUSDT | +0.0097% | 8h | 85,490.5 | −0.074% | $9.45B | $24.92B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,466 | −0.103% | $236K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,542.4 | −0.014% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,570 | +0.018% | $3.76B | $5.09B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,521.4 | −0.038% | $40.0M | $598.7M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,486.6 | −0.079% | $5.15B | $9.98B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,498.8 | −0.065% | $2.59B | $12.26B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,494 | −0.070% | $3.8M | $17.4M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,492.3 | −0.072% | $4.6M | $98.8M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,501.7 | −0.061% | $682.6M | $531.9M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,492.2 | −0.072% | $5.51B | $11.11B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,481.8 | −0.085% | $36.6M | $178.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,535.9 | −0.021% | $155.0M | $560.6M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,528.5 | −0.030% | $280.1M | $953.5M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,535.3 | −0.022% | $214.9M | $167.4M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,528 | −0.031% | $139.8M | $314.5M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,537.1 | −0.020% | $30.2M | $207.2M | 40x | as long as short |
| Vest BTC-PERPlong | +0.0100% | 1h | 85,554.2 | long leg | — | $10.9M | 50x | |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,490 | −0.075% | $11.0M | $14.5M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,488.7 | −0.077% | $204K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,502.2 | −0.061% | $2.6M | $9.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,536.2 | −0.021% | $194K | $795K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,482.8 | −0.083% | $30.0M | $48.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,470.7 | −0.098% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,498 | −0.066% | $59.8M | $336.3M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,493.1 | −0.071% | $2.26B | $942.4M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,468.6 | −0.100% | $44.5M | $240.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,507.5 | −0.055% | — | $106.8M | 500x | as long as short |
| Reya BTCRUSDPERP | +0.0120% | 1h | 85,481.1 | −0.085% | $6.6M | $147.6M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,494.5 | −0.070% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0211% | 8h | 85,533 | −0.025% | $11.4M | $743.6M | 6.4x | as long as short |
| Aftermath Perps BTCUSD | +0.0234% | 1h | 85,519.3 | −0.041% | $79K | $228K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0240% | 1h | 85,546.4 | −0.009% | $694K | $8.0M | 30x | as long as short |
| RISEx BTC/USDC | +0.0257% | 1h | 85,511.1 | −0.050% | $8.8M | $43.2M | 25x | as long as short |
Nado BTC-PERP
Kraken Futures PF_XBTUSD
Deribit BTC-PERPETUAL
BingX BTC-USDT
Bitget BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Coinbase International BTC-PERP-INTX
MEXC BTC_USDT
Binance 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
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
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
RISEx BTC/USDC