Funding arb · Price arb /

ETC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.028%

Price spread now: Phemex against Deribit−0.043%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phemex is 0.043% cheaper against Deribit than usual: you would sell low and buy high (spread −0.043% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 35 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ETC_USDC-PERPETUAL	8.8028	0	get 0.0000% / 1h	7m 43s	$499	—	50x
Short	Phemex ETCUSDT	8.7990	0.0100	get 0.0100% / 8h	5h 07m	$2.0M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Deribit. 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 DeribitbpFee PhemexbpOrdersPrice spread, now −0.043%Rate

Funding earned: $21
Price spread: −0.043% → 0.000%: −$4.32
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$2.32
Costs to cover: 0.190%
Break-even: 7.8 days

Slippage unknown: Deribit: 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 Deribit no order-book sample	—	—	—	—	—
Sell Phemex live order book, 6 min ago	6.23 bp	19.1 bp −$19	43.4 bp −$434	doesn't fit	doesn't fit

Deribit: 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.

ETC on 22 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
Kraken Futures PF_ETCUSD	−0.0010%	1h	8.8002	−0.029%	$1.9M	$690K	50x	as long as short
dYdX ETC-USD	0.0000%	1h	8.7942	−0.098%	$9K	$71	10x	as long as short
Deribit ETC_USDC-PERPETUALlong	0.0000%	1h	8.8028	long leg	$499	—	50x
gTrade (Gains Network) ETC/USD	L +0.0006% / S −0.0006%	1h	8.7977	−0.058%	—	—	150x	as long as short
Injective ETC/USDC PERP	+0.0033%	1h	8.8750	+0.820%	$34	$102K	5.5x	as long as short
Hyperliquid ETC	+0.0100%	1h	8.8024	−0.005%	$2.5M	$594K	5x	as long as short
Aster ETCUSDT	+0.0100%	8h	8.7968	−0.068%	$984K	$11K	10x	as long as short
Binance ETCUSDT	+0.0100%	8h	8.7940	−0.100%	$26.3M	$68.2M	75x	as long as short
Bybit ETCUSDT	+0.0100%	8h	8.7900	−0.145%	$12.8M	$7.8M	75x	as long as short
OKX ETC-USDT-SWAP	+0.0100%	8h	8.7910	−0.134%	$8.5M	$17.0M	50x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ETC_USDT	+0.0100%	8h	8.7980	−0.055%	$3.6M	$2.6M	60x	as long as short
MEXC ETC_USDT	+0.0100%	8h	8.7940	−0.100%	$7.4M	$32.7M	200x	as long as short
KuCoin ETCUSDTM	+0.0100%	8h	8.7950	−0.089%	$2.9M	$643K	50x	as long as short
Bitget ETCUSDT	+0.0100%	8h	8.7900	−0.145%	$9.7M	$3.6M	75x	as long as short
BingX ETC-USDC	+0.0100%	8h	8.7990	−0.043%	—	$707K	—	as long as short
Variational Omni ETC	+0.0100%	8h	8.8178	+0.170%	$123K	$3K	—	as long as short
SoDEX ETC-USD	+0.0100%	1h	8.7980	−0.055%	$183	$5K	5x	as long as short
HTX ETC-USDT	+0.0100%	8h	8.7916	−0.127%	$119K	$292K	75x	as long as short
Phemex ETCUSDTshort	+0.0100%	8h	8.7990	−0.043%	$2.0M	$2.7M	50x
Extended ETC-USD	+0.0104%	1h	8.7957	−0.081%	$15K	$96K	25x	as long as short
BloFin ETC-USDT	+0.0220%	8h	8.8080	+0.059%	$1.4M	$246K	50x	as long as short
Coinbase International ETC-PERP-INTX	+0.1048%	1h	8.8490	+0.525%	$35K	$20K	50x	as long as short