Funding arb · Price arb /

DOT

all DOT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0586%/8h= +64.2% APRpaid last 24h +0.183%

Price spread now: Phemex against Coinbase International0.000%7-day average +0.159% · you sell dearer than you buy

Net, funding: paid 7d − costs+$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$910.914% of the position

Long on Coinbase International Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+1.021%+$102 on $10k

Price spread, last 4 days (all we have)+0.177%+$18 · spread now 0.000%, 7d avg +0.159%

Together, before fees+1.197%+$120 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.159% cheaper against Coinbase International than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.159%). If the spread goes back, that is −$16 on $10k: about 22 hours of funding at the current rate (+$18 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International DOT-PERP-INTX	1.1720	−0.0440	get 0.0055% / 1h	56m 28s	$171K	$2.0M	50x
Short	Phemex DOTUSDT	1.1720	0.0146	get 0.0146% / 8h	1h 56m	$2.4M	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee PhemexbpOrdersPrice spread, now 0.000%Rate

Funding earned: $123.1
Price spread: 0.000% → +0.159%: −$15.93
Slippage, 4 orders: −$69.39
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: $15.78
Costs to cover: 0.914%
Break-even: 6.1 days

Slippage from Coinbase International: live order book, 2 min ago; Phemex: live order book, 2 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 Coinbase International live order book, 2 min ago	8.52 bp	21.4 bp −$21	26.9 bp −$269	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	8.52 bp	27.2 bp −$27	43.7 bp −$437	106.6 bp −$10.7K	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	−0.3749%	1h	1.1706	−0.119%	$243K	$143K	50x	as long as short
Coinbase International DOT-PERP-INTXlong	−0.0440%	1h	1.1720	long leg	$171K	$2.0M	50x
Reya DOTRUSDPERP	−0.0166%	1h	1.1694	−0.223%	$253	—	—	as long as short
dYdX DOT-USD	0.0000%	1h	1.1697	−0.199%	$141K	$6K	10x	as long as short
gTrade (Gains Network) DOT/USD	L 0.0000% / S +0.0004%	1h	1.1702	−0.150%	$3K	—	150x	as long as short
Injective DOT/USDC PERP	+0.0033%	1h	1.2020	+2.560%	$328	$121K	12x	as long as short
Lighter DOT	+0.0096%	1h	1.1701	−0.166%	$247K	$675K	10x	as long as short
Hyperliquid DOT	+0.0100%	1h	1.1700	−0.171%	$5.4M	$4.5M	10x	as long as short
Aster DOTUSDT	+0.0100%	8h	1.1705	−0.124%	$838K	$604K	50x	as long as short
Binance DOTUSDT	+0.0100%	8h	1.1697	−0.195%	$42.6M	$88.5M	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit DOTUSDT	+0.0100%	8h	1.1694	−0.222%	$23.6M	$20.1M	75x	as long as short
OKX DOT-USDT-SWAP	+0.0100%	8h	1.1694	−0.222%	$9.0M	$25.6M	50x	as long as short
Gate DOT_USDT	+0.0100%	8h	1.1700	−0.171%	$6.7M	$12.8M	75x	as long as short
MEXC DOT_USDT	+0.0100%	8h	1.1698	−0.188%	$31.3M	$59.8M	300x	as long as short
KuCoin DOTUSDTM	+0.0100%	8h	1.1698	−0.188%	$6.3M	$9.5M	75x	as long as short
Bitget DOTUSDT	+0.0100%	8h	1.1700	−0.171%	$22.4M	$14.9M	75x	as long as short
BingX DOT-USDC	+0.0100%	8h	1.1700	−0.171%	—	$1.3M	—	as long as short
Backpack DOT_USDC_PERP	+0.0100%	1h	1.1698	−0.188%	$91K	$131K	10x	as long as short
Variational Omni DOT	+0.0100%	8h	1.1749	+0.250%	$535K	$51K	—	as long as short
edgeX DOTUSDC	+0.0100%	4h	1.1725	+0.041%	$34K	$334K	20x	as long as short
GRVT DOT_USDT_Perp	+0.0100%	8h	1.1758	+0.328%	$233K	$433K	10x	as long as short
Orderly PERP_DOT_USDC	+0.0100%	8h	1.1700	−0.171%	$8K	$19K	10x	as long as short
SunX DOT-USDT	+0.0100%	8h	1.1723	+0.026%	$2K	$1.3M	20x	as long as short
HTX DOT-USDT	+0.0100%	8h	1.1734	+0.119%	$264K	$278K	75x	as long as short
Extended DOT-USD	+0.0104%	1h	1.1697	−0.197%	$15K	$247K	25x	as long as short
Phemex DOTUSDTshort	+0.0146%	8h	1.1720	0.000%	$2.4M	$2.2M	50x
BloFin DOT-USDT	+0.0220%	8h	1.1706	−0.119%	$2.1M	$909K	75x	as long as short
GMX DOT/USD [WBTC.b-USDC]	L +0.0291% / S −0.0937%	1h	1.1702	−0.154%	$20K	—	100x	as long as short
Kraken Futures PF_DOTUSD	+0.0327%	1h	1.1706	−0.122%	$4.4M	$1.4M	50x	as long as short