Funding you earn now, next payment 06:00 UTC−0.0150%/8h= −16.4% APRpaid last 24h −0.199%
Price spread now: Deribit against Phemex+0.160%7-day average +0.070% · you sell dearer than you buy
Net, funding: paid 7d − costs−$139as in the Funding arb table
Net, price: spread back to 7d avg − costs−$83as in the Price arb table
costs, in and out, $10k−$920.925% of the position
Funding, last 7 days−0.466%−$47 on $10k
+Price spread, last 4 days (all we have)−0.120%−$12 · spread now +0.160%, 7d avg +0.070%
=The price spread pays, funding is against you. Deribit is 0.090% dearer against Phemex than usual: you sell high and buy low (spread +0.160% now, against its 7-day average of +0.070%): +$9 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.0 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex FILUSDT | 0.9990 | 0.0100 | pay 0.0100% / 8h | 2h 05m | $1.2M | $2.6M | 50x |
| Short | Deribit FIL_USDC-PERPETUAL | 1.0006 | −0.0050 | pay 0.0006% / 1h | 5m 42s | $172K | $23K | 25x |
Phemex FILUSDT
Deribit FIL_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$31.5
- Price spread: +0.160% → +0.070%
- $9.01
- Slippage, 4 orders
- −$73.45
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$114.94
- Costs to cover
- 0.925%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 3 min ago; Deribit: live order book, 43 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, 3 min ago | 10.00 bp | 33.4 bp −$33 | 109.1 bp −$1,091 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 43 min ago | 11.06 bp | 14.6 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International FIL-PERP-INTX | −0.0240% | 1h | 1.0001 | +0.110% | $357K | $2.3M | 50x | as long as short |
| Deribit FIL_USDC-PERPETUALshort | −0.0050% | 1h | 1.0006 | +0.160% | $172K | $23K | 25x | |
| gTrade (Gains Network) FIL/USD | L −0.0004% / S +0.0006% | 1h | 0.9999 | +0.095% | $26K | — | 150x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 1.0000 | +0.101% | $58K | $1K | 10x | as long as short |
| Injective FIL/USDC PERP | +0.0033% | 1h | 0.9855 | −1.351% | $2K | $240K | 12x | as long as short |
| OKX FIL-USDT-SWAP | +0.0048% | 8h | 0.9999 | +0.090% | $18.2M | $110.5M | 50x | as long as short |
| KuCoin FILUSDTM | +0.0062% | 8h | 0.9998 | +0.080% | $7.3M | $7.9M | 50x | as long as short |
| Lighter FIL | +0.0096% | 1h | 0.9999 | +0.091% | $149K | $385K | 5x | as long as short |
| Hyperliquid FIL | +0.0100% | 1h | 1.0003 | +0.130% | $8.4M | $9.4M | 5x | as long as short |
| Aster FILUSDT | +0.0100% | 8h | 1.0006 | +0.165% | $510K | $605K | 20x | as long as short |
Coinbase International FIL-PERP-INTX
gTrade (Gains Network) FIL/USD
dYdX FIL-USD
Injective FIL/USDC PERP
OKX FIL-USDT-SWAP
KuCoin FILUSDTM
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 | 1.0003 | +0.130% | $56.5M | $187.7M | 75x | as long as short |
| Bybit FILUSDT | +0.0100% | 8h | 0.9996 | +0.060% | $15.7M | $20.7M | 25x | as long as short |
| Gate FIL_USDT | +0.0100% | 8h | 0.9996 | +0.060% | $8.4M | $16.9M | 50x | as long as short |
| MEXC FIL_USDC | +0.0100% | 8h | 0.9998 | +0.080% | $236K | $105K | 50x | as long as short |
| Bitget FILUSDT | +0.0100% | 8h | 0.9998 | +0.080% | $11.4M | $20.1M | 75x | as long as short |
| BingX FIL-USDC | +0.0100% | 8h | 1.0001 | +0.110% | — | $6.5M | — | as long as short |
| Variational Omni FIL | +0.0100% | 8h | 0.9992 | +0.018% | $453K | $265K | — | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9983 | −0.072% | $45K | $294K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9979 | −0.106% | $289K | $1.2M | 10x | as long as short |
| ApeX Omni FILUSDT | +0.0100% | 1h | 0.9990 | 0.000% | $29K | $184K | 50x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 1.0002 | +0.118% | $4K | $798 | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 0.9990 | 0.000% | $3K | $1.2M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 0.9999 | +0.090% | $489 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 1.0004 | +0.140% | $622K | $5.8M | 75x | as long as short |
| Phemex FILUSDTlong | +0.0100% | 8h | 0.9990 | long leg | $1.2M | $2.6M | 50x | |
| Extended FIL-USD | +0.0104% | 1h | 0.9999 | +0.088% | $704K | $1.4M | 10x | as long as short |
| BloFin FIL-USDT | +0.0220% | 8h | 0.9998 | +0.080% | $2.6M | $701K | 75x | as long as short |
| Kraken Futures PF_FILUSD | +0.0249% | 1h | 1.0004 | +0.143% | $1.4M | $2.2M | 50x | as long as short |
| GMX FIL/USD [WBTC.b-USDC] | L +0.0604% / S −0.0280% | 1h | 0.9998 | +0.075% | $267K | — | 100x | as long as short |
Binance FILUSDT
Bybit FILUSDT
Gate FIL_USDT
MEXC FIL_USDC
Bitget FILUSDT
BingX FIL-USDC
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]