Funding you earn now, next payment 00:00 UTC−0.0185%/8h= −20.3% APRpaid last 24h −0.118%
Price spread now: Backpack against Phemex−0.115%7-day average −0.164% · you buy dearer than you sell
Net, funding: paid 7d − costs−$135as in the Funding arb table
Net, price: spread back to 7d avg − costs−$57as in the Price arb table
costs, in and out, $10k−$620.619% of the position
Funding, last 7 days−0.733%−$73 on $10k
+Price spread, last 3 days (all we have)−0.028%−$3 · spread now −0.115%, 7d avg −0.164%
=The price spread pays, funding is against you. Backpack is 0.049% dearer against Phemex than usual: you sell high and buy low (spread −0.115% now, against its 7-day average of −0.164%): +$5 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 21 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex DOTUSDT | 1.2160 | 0.0285 | pay 0.0285% / 8h | 52m 18s | $2.3M | $2.1M | 50x |
| Short | Backpack DOT_USDC_PERP | 1.2146 | 0.0100 | get 0.0013% / 1h | 52m 18s | $97K | $128K | 10x |
Phemex DOTUSDT
Backpack DOT_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Phemex. 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
- −$38.93
- Price spread: −0.115% → −0.164%
- $4.91
- Slippage, 4 orders
- −$39.94
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$95.96
- Costs to cover
- 0.619%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 1 min ago; Backpack: live order book, 26 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 Phemex live order book, 1 min ago | 4.11 bp | 23.3 bp −$23 | 59.5 bp −$595 | 115.0 bp −$11.5K | doesn't fit |
| Sell Backpack live order book, 26 min ago | 0.41 bp | 6.5 bp −$6 | doesn't fit | doesn't fit | 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 | −0.0655% | 1h | 1.2141 | −0.156% | $222K | $117K | 50x | as long as short |
| Reya DOTRUSDPERP | −0.0166% | 1h | 1.2125 | −0.284% | $262 | — | — | as long as short |
| Coinbase International DOT-PERP-INTX | −0.0056% | 1h | 1.2160 | 0.000% | $209K | $1.9M | 50x | as long as short |
| OKX DOT-USDT-SWAP | −0.0003% | 8h | 1.2127 | −0.271% | $9.6M | $24.2M | 50x | as long as short |
| dYdX DOT-USD | 0.0000% | 1h | 1.2127 | −0.269% | $146K | $6K | 10x | as long as short |
| gTrade (Gains Network) DOT/USD | L 0.0000% / S +0.0004% | 1h | 1.2129 | −0.255% | $5K | — | 150x | as long as short |
| Kraken Futures PF_DOTUSD | +0.0032% | 1h | 1.2143 | −0.144% | $4.5M | $1.4M | 50x | as long as short |
| Injective DOT/USDC PERP | +0.0033% | 1h | 1.2020 | −1.151% | $328 | $121K | 12x | as long as short |
| KuCoin DOTUSDTM | +0.0046% | 8h | 1.2134 | −0.214% | $6.8M | $8.8M | 75x | as long as short |
| Lighter DOT | +0.0096% | 1h | 1.2125 | −0.292% | $248K | $601K | 10x | as long as short |
Deribit DOT_USDC-PERPETUAL
Reya DOTRUSDPERP
Coinbase International DOT-PERP-INTX
OKX DOT-USDT-SWAP
dYdX DOT-USD
gTrade (Gains Network) DOT/USD
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 | 1.2139 | −0.173% | $5.4M | $3.4M | 10x | as long as short |
| Aster DOTUSDT | +0.0100% | 8h | 1.2149 | −0.088% | $885K | $689K | 50x | as long as short |
| Binance DOTUSDT | +0.0100% | 8h | 1.2131 | −0.242% | $44.8M | $82.1M | 75x | as long as short |
| Bybit DOTUSDT | +0.0100% | 8h | 1.2124 | −0.296% | $24.9M | $18.4M | 75x | as long as short |
| Gate DOT_USDT | +0.0100% | 8h | 1.2130 | −0.247% | $6.9M | $11.6M | 75x | as long as short |
| MEXC DOT_USDT | +0.0100% | 8h | 1.2135 | −0.206% | $30.7M | $38.8M | 300x | as long as short |
| Bitget DOTUSDT | +0.0100% | 8h | 1.2126 | −0.280% | $23.3M | $14.8M | 75x | as long as short |
| BingX DOT-USDC | +0.0100% | 8h | 1.2124 | −0.296% | — | $1.3M | — | as long as short |
| Backpack DOT_USDC_PERPshort | +0.0100% | 1h | 1.2146 | −0.115% | $97K | $128K | 10x | |
| Variational Omni DOT | +0.0100% | 8h | 1.2105 | −0.453% | $550K | $61K | — | as long as short |
| edgeX DOTUSDC | +0.0100% | 4h | 1.2110 | −0.407% | $35K | $332K | 20x | as long as short |
| GRVT DOT_USDT_Perp | +0.0100% | 8h | 1.2114 | −0.379% | $235K | $457K | 10x | as long as short |
| Orderly PERP_DOT_USDC | +0.0100% | 8h | 1.2130 | −0.247% | $8K | $24K | 10x | as long as short |
| SunX DOT-USDT | +0.0100% | 8h | 1.2147 | −0.107% | $2K | $1.3M | 20x | as long as short |
| HTX DOT-USDT | +0.0100% | 8h | 1.2157 | −0.025% | $251K | $220K | 75x | as long as short |
| Extended DOT-USD | +0.0104% | 1h | 1.2125 | −0.287% | $15K | $235K | 25x | as long as short |
| BloFin DOT-USDT | +0.0220% | 8h | 1.2145 | −0.123% | $2.3M | $791K | 75x | as long as short |
| Phemex DOTUSDTlong | +0.0285% | 8h | 1.2160 | long leg | $2.3M | $2.1M | 50x | |
| GMX DOT/USD [WBTC.b-USDC] | L +0.0305% / S −0.1025% | 1h | 1.2137 | −0.192% | $23K | — | 100x | as long as short |
Hyperliquid DOT
Aster DOTUSDT
Binance DOTUSDT
Bybit DOTUSDT
Gate DOT_USDT
MEXC DOT_USDT
Bitget DOTUSDT
BingX DOT-USDC
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]