Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.011%
Price spread now: Phemex against Deribit−0.140%7-day average −0.068% · you buy dearer than you sell
Net, funding: paid 7d − costs−$39as in the Funding arb table
Net, price: spread back to 7d avg − costs−$55as in the Price arb table
costs, in and out, $10k−$470.473% of the position
Funding, last 7 days+0.087%+$9 on $10k
+Price spread, last 3 days (all we have)+0.086%+$9 · spread now −0.140%, 7d avg −0.068%
=Funding pays, the price is against you. Phemex is 0.073% cheaper against Deribit than usual: you would sell low and buy high (spread −0.140% now, against its 7-day average of −0.068%). If the spread goes back, that is −$7 on $10k: about 2.4 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.087% in total) that is about 5.9 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit HBAR_USDC-PERPETUAL | 0.09271 | 0 | get 0.0000% / 1h | 46m 23s | $510K | $151K | 50x |
| Short | Phemex HBARUSDT | 0.09258 | 0.0100 | get 0.0100% / 8h | 1h 46m | $2.2M | $2.1M | 50x |
Deribit HBAR_USDC-PERPETUAL
Phemex HBARUSDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $21
- Price spread: −0.140% → −0.068%
- −$7.25
- Slippage, 4 orders
- −$28.33
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$33.59
- Costs to cover
- 0.473%
- Break-even
- 18.2 days
Slippage from Deribit: live order book, 37 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 Deribit live order book, 37 min ago | 3.24 bp | 6.7 bp −$7 | 14.3 bp −$143 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 2 min ago | 1.62 bp | 18.7 bp −$19 | 39.2 bp −$392 | doesn't fit | doesn't fit |
HBAR on 28 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective HBAR/USDC PERP | −0.0153% | 1h | 0.09267 | −0.043% | $1K | $112K | 12x | as long as short |
| Gate HBAR_USDT | −0.0027% | 8h | 0.09288 | +0.183% | $2.4M | $3.5M | 75x | as long as short |
| KuCoin HBARUSDTM | −0.0008% | 8h | 0.09282 | +0.119% | $7.5M | $7.9M | 75x | as long as short |
| dYdX HBAR-USD | 0.0000% | 1h | 0.09284 | +0.137% | $30K | $4K | 5x | as long as short |
| Deribit HBAR_USDC-PERPETUALlong | 0.0000% | 1h | 0.09271 | long leg | $510K | $151K | 50x | |
| gTrade (Gains Network) HBAR/USD | L +0.0007% / S −0.0014% | 1h | 0.09291 | +0.210% | $8K | — | 150x | as long as short |
| Variational Omni HBAR | +0.0055% | 8h | 0.09261 | −0.111% | $1.0M | $197K | — | as long as short |
| Coinbase International HBAR-PERP-INTX | +0.0064% | 1h | 0.09272 | +0.011% | $223K | $2.2M | 50x | as long as short |
| Orderly PERP_HBAR_USDC | +0.0077% | 8h | 0.09264 | −0.076% | $2K | $16K | 10x | as long as short |
| Extended HBAR-USD | +0.0080% | 1h | 0.09277 | +0.066% | $51K | $218K | 10x | as long as short |
Injective HBAR/USDC PERP
Gate HBAR_USDT
KuCoin HBARUSDTM
dYdX HBAR-USD
gTrade (Gains Network) HBAR/USD
Variational Omni HBAR
Coinbase International HBAR-PERP-INTX
Orderly PERP_HBAR_USDC
Extended HBAR-USDShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC HBAR_USDT | +0.0080% | 8h | 0.09286 | +0.162% | $25.6M | $22.3M | 200x | as long as short |
| Binance HBARUSDT | +0.0080% | 8h | 0.09292 | +0.227% | $34.9M | $110.3M | 75x | as long as short |
| Lighter HBAR | +0.0096% | 1h | 0.09278 | +0.076% | $569K | $591K | 5x | as long as short |
| Hyperliquid HBAR | +0.0100% | 1h | 0.09296 | +0.271% | $8.9M | $2.9M | 5x | as long as short |
| Aster HBARUSDT | +0.0100% | 8h | 0.09279 | +0.084% | $212K | $429K | 50x | as long as short |
| Bybit HBARUSDT | +0.0100% | 8h | 0.09284 | +0.140% | $33.1M | $37.0M | 75x | as long as short |
| OKX HBAR-USDT-SWAP | +0.0100% | 8h | 0.09283 | +0.129% | $6.8M | $25.0M | 50x | as long as short |
| Bitget HBARUSDT | +0.0100% | 8h | 0.09284 | +0.140% | $17.1M | $14.8M | 75x | as long as short |
| BingX HBAR-USDC | +0.0100% | 8h | 0.09290 | +0.205% | — | $6.7M | — | as long as short |
| Backpack HBAR_USDC_PERP | +0.0100% | 1h | 0.09271 | 0.000% | $32K | $103K | 15x | as long as short |
| GRVT HBAR_USDT_Perp | +0.0100% | 8h | 0.09261 | −0.104% | $377K | $2.1M | 10x | as long as short |
| ApeX Omni HBARUSDT | +0.0100% | 1h | 0.09246 | −0.270% | $148K | $707K | 50x | as long as short |
| SoDEX HBAR-USD | +0.0100% | 1h | 0.09262 | −0.097% | $430 | $6K | 5x | as long as short |
| HTX HBAR-USDT | +0.0100% | 8h | 0.09295 | +0.259% | $73K | $53K | 20x | as long as short |
| Phemex HBARUSDTshort | +0.0100% | 8h | 0.09258 | −0.140% | $2.2M | $2.1M | 50x | |
| Kraken Futures PF_HBARUSD | +0.0193% | 1h | 0.09271 | +0.005% | $1.4M | $2.3M | 50x | as long as short |
| BloFin HBAR-USDT | +0.0200% | 8h | 0.09268 | −0.032% | $1.4M | $5.5M | 90x | as long as short |
| GMX HBAR/USD [WBTC.b-USDC] | L +0.0448% / S −0.0478% | 1h | 0.09293 | +0.234% | $104K | — | 100x | as long as short |
MEXC HBAR_USDT
Binance HBARUSDT
Lighter HBAR
Hyperliquid HBAR
Aster HBARUSDT
Bybit HBARUSDT
OKX HBAR-USDT-SWAP
Bitget HBARUSDT
BingX HBAR-USDC
Backpack HBAR_USDC_PERP
GRVT HBAR_USDT_Perp
ApeX Omni HBARUSDT
SoDEX HBAR-USD
HTX HBAR-USDT
Kraken Futures PF_HBARUSD
BloFin HBAR-USDT
GMX HBAR/USD [WBTC.b-USDC]