Funding you earn now, next payment 07:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.018%
Price spread now: Phemex against Injective+1.268%65s7-day average −1.455% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.068%+$7 on $10k
+Price spread, last 4 days (all we have)+0.881%+$88 · spread now +1.268%, 7d avg −1.455%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phemex is 2.724% dearer against Injective than usual: you sell high and buy low: +$272 more if the spread goes back to its 7-day average of −1.455%. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective FIL/USDC PERP | 0.9855 | 0.0033 | pay 0.0004% / 1h | 14m 12s | $2K | $240K | 12x |
| Short | Phemex FILUSDT | 0.9980 | 0.0100 | get 0.0100% / 8h | 1h 14m | $1.2M | $2.6M | 50x |
Injective FIL/USDC PERP
Phemex FILUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Injective. 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
- $14
- Price spread: +1.268% → −1.455%
- $272.36
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- $274.34
- Costs to cover
- 0.120%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Phemex: live order book, 4 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 Injective no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 4 min ago | 10.01 bp | 28.1 bp −$28 | 109.0 bp −$1,090 | doesn't fit | doesn't fit |
Injective: 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.
FIL 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 FIL_USDC-PERPETUAL | −0.0250% | 1h | 0.9997 | +1.441% | $172K | $23K | 25x | as long as short |
| Coinbase International FIL-PERP-INTX | −0.0248% | 1h | 0.9990 | +1.370% | $351K | $2.2M | 50x | as long as short |
| gTrade (Gains Network) FIL/USD | L −0.0004% / S +0.0006% | 1h | 0.9998 | +1.453% | $26K | — | 150x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 1.0001 | +1.483% | $58K | $1K | 10x | as long as short |
| Injective FIL/USDC PERPlong | +0.0033% | 1h | 0.9855 | long leg | $2K | $240K | 12x | |
| KuCoin FILUSDTM | +0.0067% | 8h | 0.9990 | +1.370% | $7.1M | $8.0M | 50x | as long as short |
| OKX FIL-USDT-SWAP | +0.0069% | 8h | 0.9982 | +1.289% | $18.0M | $109.3M | 50x | as long as short |
| Lighter FIL | +0.0096% | 1h | 0.9987 | +1.336% | $149K | $355K | 5x | as long as short |
| Hyperliquid FIL | +0.0100% | 1h | 0.9987 | +1.339% | $8.4M | $9.4M | 5x | as long as short |
| Aster FILUSDT | +0.0100% | 8h | 0.9990 | +1.365% | $509K | $606K | 20x | as long as short |
Deribit FIL_USDC-PERPETUAL
Coinbase International FIL-PERP-INTX
gTrade (Gains Network) FIL/USD
dYdX FIL-USD
KuCoin FILUSDTM
OKX FIL-USDT-SWAP
Lighter FIL
Hyperliquid FIL
Aster FILUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance FILUSDT | +0.0100% | 8h | 0.9987 | +1.335% | $56.2M | $186.7M | 75x | as long as short |
| Bybit FILUSDT | +0.0100% | 8h | 0.9985 | +1.319% | $15.6M | $20.4M | 25x | as long as short |
| Gate FIL_USDT | +0.0100% | 8h | 0.9985 | +1.319% | $8.3M | $16.8M | 50x | as long as short |
| MEXC FIL_USDC | +0.0100% | 8h | 0.9990 | +1.370% | $231K | $105K | 50x | as long as short |
| Bitget FILUSDT | +0.0100% | 8h | 0.9982 | +1.289% | $11.3M | $19.8M | 75x | as long as short |
| BingX FIL-USDT | +0.0100% | 8h | 0.9987 | +1.339% | — | $11.8M | — | as long as short |
| Variational Omni FIL | +0.0100% | 8h | 0.9996 | +1.428% | $450K | $278K | — | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9999 | +1.463% | $45K | $296K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9992 | +1.387% | $295K | $1.3M | 10x | as long as short |
| ApeX Omni FILUSDT | +0.0100% | 1h | 0.9990 | +1.370% | $27K | $184K | 50x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 1.0003 | +1.502% | $4K | $798 | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 0.9990 | +1.370% | $3K | $1.2M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 0.9989 | +1.360% | $484 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 0.9998 | +1.451% | $623K | $5.6M | 75x | as long as short |
| Phemex FILUSDTshort | +0.0100% | 8h | 0.9980 | +1.268% | $1.2M | $2.6M | 50x | |
| Extended FIL-USD | +0.0104% | 1h | 0.9990 | +1.369% | $700K | $1.4M | 10x | as long as short |
| BloFin FIL-USDT | +0.0220% | 8h | 0.9996 | +1.431% | $2.6M | $681K | 75x | as long as short |
| Kraken Futures PF_FILUSD | +0.0244% | 1h | 0.9993 | +1.400% | $1.4M | $2.1M | 50x | as long as short |
| GMX FIL/USD [WBTC.b-USDC] | L +0.0605% / S −0.0280% | 1h | 1.0000 | +1.475% | $268K | — | 100x | as long as short |
Binance FILUSDT
Bybit FILUSDT
Gate FIL_USDT
MEXC FIL_USDC
Bitget FILUSDT
BingX FIL-USDT
Variational Omni FIL
edgeX FILUSDC
GRVT FIL_USDT_Perp
ApeX Omni FILUSDT
Orderly PERP_FIL_USDC_mythos
SunX FIL-USDT
SoDEX FIL-USD
HTX FIL-USDT
Extended FIL-USD
BloFin FIL-USDT
Kraken Futures PF_FILUSD
GMX FIL/USD [WBTC.b-USDC]