Funding you earn now, next payment 00:00 UTC+0.0199%/8h= +21.8% APRnext payment +$1.99 per $10,000 · paid last 24h +0.121%
Price spread now: Phemex against Bybit+0.265%7-day average +0.220% · you sell dearer than you buy
Net, funding: paid 7d − costs+$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$54as in the Price arb table
costs, in and out, $10k−$590.585% of the position
Funding, last 7 days+0.741%+$74 on $10k
+Price spread, last 3 days (all we have)−0.080%−$8 · spread now +0.265%, 7d avg +0.220%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phemex is 0.045% dearer against Bybit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.220%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit DOTUSDT | 1.2078 | 0.0100 | pay 0.0100% / 8h | 24m 33s | $24.9M | $18.6M | 75x |
| Short | Phemex DOTUSDT | 1.2110 | 0.0299 | get 0.0299% / 8h | 24m 33s | $2.3M | $2.1M | 50x |
Bybit DOTUSDT
Phemex DOTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Bybit. 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
- $41.87
- Price spread: +0.265% → +0.220%
- $4.49
- Slippage, 4 orders
- −$35.52
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$12.16
- Costs to cover
- 0.585%
- Break-even
- 9.0 days
Slippage from Bybit: live order book, 4 min ago; Phemex: live order book, 4 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 Bybit live order book, 4 min ago | 0.41 bp | 10.4 bp −$10 | 23.9 bp −$239 | 77.3 bp −$7,731 | doesn't fit |
| Sell Phemex live order book, 4 min ago | 4.11 bp | 21.8 bp −$22 | 55.2 bp −$552 | 115.0 bp −$11.5K | doesn't fit |
DOT on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit DOT_USDC-PERPETUAL | −0.1235% | 1h | 1.2100 | +0.182% | $221K | $117K | 50x | as long as short |
| Reya DOTRUSDPERP | −0.0166% | 1h | 1.2075 | −0.021% | $261 | — | — | as long as short |
| Coinbase International DOT-PERP-INTX | −0.0056% | 1h | 1.2100 | +0.182% | $207K | $1.8M | 50x | as long as short |
| dYdX DOT-USD | 0.0000% | 1h | 1.2090 | +0.099% | $146K | $6K | 10x | as long as short |
| gTrade (Gains Network) DOT/USD | L 0.0000% / S +0.0004% | 1h | 1.2092 | +0.115% | $5K | — | 150x | as long as short |
| OKX DOT-USDT-SWAP | +0.0016% | 8h | 1.2081 | +0.025% | $9.6M | $24.2M | 50x | as long as short |
| Kraken Futures PF_DOTUSD | +0.0032% | 1h | 1.2100 | +0.178% | $4.5M | $1.4M | 50x | as long as short |
| Injective DOT/USDC PERP | +0.0033% | 1h | 1.2020 | −0.480% | $328 | $121K | 12x | as long as short |
| KuCoin DOTUSDTM | +0.0054% | 8h | 1.2087 | +0.075% | $6.7M | $8.9M | 75x | as long as short |
| Lighter DOT | +0.0096% | 1h | 1.2089 | +0.093% | $246K | $605K | 10x | as long as short |
Deribit DOT_USDC-PERPETUAL
Reya DOTRUSDPERP
Coinbase International DOT-PERP-INTX
dYdX DOT-USD
gTrade (Gains Network) DOT/USD
OKX DOT-USDT-SWAP
Kraken Futures PF_DOTUSD
Injective DOT/USDC PERP
KuCoin DOTUSDTM
Lighter DOTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid DOT | +0.0100% | 1h | 1.2088 | +0.083% | $5.4M | $3.4M | 10x | as long as short |
| Aster DOTUSDT | +0.0100% | 8h | 1.2098 | +0.168% | $881K | $691K | 50x | as long as short |
| Binance DOTUSDT | +0.0100% | 8h | 1.2082 | +0.033% | $44.7M | $82.9M | 75x | as long as short |
| Bybit DOTUSDTlong | +0.0100% | 8h | 1.2078 | long leg | $24.9M | $18.6M | 75x | |
| Gate DOT_USDT | +0.0100% | 8h | 1.2080 | +0.017% | $6.8M | $11.8M | 75x | as long as short |
| MEXC DOT_USDT | +0.0100% | 8h | 1.2082 | +0.033% | $32.5M | $40.2M | 300x | as long as short |
| Bitget DOTUSDT | +0.0100% | 8h | 1.2080 | +0.017% | $23.1M | $14.7M | 75x | as long as short |
| BingX DOT-USDT | +0.0100% | 8h | 1.2079 | +0.008% | — | $28.6M | — | as long as short |
| Backpack DOT_USDC_PERP | +0.0100% | 1h | 1.2089 | +0.091% | $97K | $132K | 10x | as long as short |
| Variational Omni DOT | +0.0100% | 8h | 1.2118 | +0.332% | $551K | $61K | — | as long as short |
| edgeX DOTUSDC | +0.0100% | 4h | 1.2129 | +0.426% | $36K | $332K | 20x | as long as short |
| GRVT DOT_USDT_Perp | +0.0100% | 8h | 1.2116 | +0.316% | $235K | $457K | 10x | as long as short |
| Orderly PERP_DOT_USDC | +0.0100% | 8h | 1.2100 | +0.182% | $8K | $23K | 10x | as long as short |
| SunX DOT-USDT | +0.0100% | 8h | 1.2101 | +0.190% | $2K | $1.3M | 20x | as long as short |
| HTX DOT-USDT | +0.0100% | 8h | 1.2086 | +0.066% | $249K | $220K | 75x | as long as short |
| Extended DOT-USD | +0.0104% | 1h | 1.2080 | +0.017% | $15K | $235K | 25x | as long as short |
| BloFin DOT-USDT | +0.0220% | 8h | 1.2092 | +0.116% | $2.3M | $788K | 75x | as long as short |
| Phemex DOTUSDTshort | +0.0299% | 8h | 1.2110 | +0.265% | $2.3M | $2.1M | 50x | |
| GMX DOT/USD [WBTC.b-USDC] | L +0.0303% / S −0.1012% | 1h | 1.2092 | +0.112% | $22K | — | 100x | as long as short |
Hyperliquid DOT
Aster DOTUSDT
Binance DOTUSDT
Gate DOT_USDT
MEXC DOT_USDT
Bitget DOTUSDT
BingX DOT-USDT
Backpack DOT_USDC_PERP
Variational Omni DOT
edgeX DOTUSDC
GRVT DOT_USDT_Perp
Orderly PERP_DOT_USDC
SunX DOT-USDT
HTX DOT-USDT
Extended DOT-USD
BloFin DOT-USDT
GMX DOT/USD [WBTC.b-USDC]