Funding you earn now, next payment 23:00 UTC+0.0271%/8h= +29.7% APRpaid last 24h −0.004%
Price spread now: Phoenix against Bybit−0.159%95s7-day average −0.022% · you buy dearer than you sell
Net, funding: paid 7d − costs−$57as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$800.796% of the position
Funding, last 7 days+0.227%+$23 on $10k
+Price spread, last 3 days (all we have)+0.174%+$17 · spread now −0.159%, 7d avg −0.022%
=Funding pays, the price is against you. Phoenix is 0.138% cheaper against Bybit than usual: you would sell low and buy high (spread −0.159% now, against its 7-day average of −0.022%). If the spread goes back, that is −$14 on $10k: about 41 hours of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.227% in total) that is about 4.3 days. The two prices were read 95 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 | Bybit ARMUSDT | 326.24 | 0 | get 0.0000% / 8h | 37m 51s | $2.0M | $2.5M | 25x |
| Short | Phoenix ARM | 325.72 | 0.0271 | get 0.0034% / 1h | 37m 51s | $5K | $460K | 10x |
Bybit ARMUSDT
Phoenix ARMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bybit. 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
- $56.89
- Price spread: −0.159% → −0.022%
- −$13.78
- Slippage, 4 orders
- −$61.63
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$36.52
- Costs to cover
- 0.796%
- Break-even
- 11.5 days
Slippage from Bybit: live order book, 4 min ago; Phoenix: live order book, 39 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 Bybit live order book, 4 min ago | 1.53 bp | 21.7 bp −$22 | 81.3 bp −$813 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 39 min ago | 6.47 bp | 18.8 bp −$19 | 40.8 bp −$408 | doesn't fit | doesn't fit |
ARM on 24 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX ARMUSDC | −0.0970% | 4h | 325.83 | −0.125% | $35K | $350K | 10x | as long as short |
| BloFin ARM-USDT | −0.0004% | 8h | 325.80 | −0.135% | $124K | $45K | 20x | as long as short |
| Aster ARMUSDT | 0.0000% | 8h | 325.62 | −0.189% | $7K | $126K | 20x | as long as short |
| Bybit ARMUSDTlong | 0.0000% | 8h | 326.24 | long leg | $2.0M | $2.5M | 25x | |
| OKX ARM-USDT-SWAP | 0.0000% | 8h | 326.22 | −0.006% | $1.7M | $6.8M | 20x | as long as short |
| Bitget ARMUSDT | 0.0000% | 8h | 326.12 | −0.037% | $1.8M | $4.2M | 20x | as long as short |
| SunX ARM-USDT | 0.0000% | 8h | 325.65 | −0.181% | $954 | $3.2M | 10x | as long as short |
| HTX ARM-USDT | 0.0000% | 8h | 326.04 | −0.061% | $18K | $17K | 20x | as long as short |
| Coinbase International ARM-PERP-INTX | +0.0016% | 1h | 325.14 | −0.337% | $88K | $287K | 10x | as long as short |
| Lighter ARM | +0.0032% | 1h | 326.00 | −0.074% | — | — | 10x | as long as short |
edgeX ARMUSDC
BloFin ARM-USDT
Aster ARMUSDT
OKX ARM-USDT-SWAP
Bitget ARMUSDT
SunX ARM-USDT
HTX ARM-USDT
Coinbase International ARM-PERP-INTX
Lighter ARMShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni ARM | +0.0033% | 8h | 325.81 | −0.130% | $213K | $523K | — | as long as short |
| QFEX ARM-USD | +0.0033% | 1h | 326.01 | −0.071% | $1.1M | $4.7M | 10x | as long as short |
| Vest ARM-USD-PERP | +0.0046% | 1h | 326.14 | −0.031% | — | — | 10x | as long as short |
| tradeXYZ xyz:ARM | +0.0050% | 1h | 326.22 | −0.006% | $8.0M | $9.6M | 10x | as long as short |
| Polymarket Perps ARM-USD | +0.0050% | 1h | 326.01 | −0.071% | $437K | $1.8M | 10x | as long as short |
| Ondo Perps ARM-USD.P | +0.0050% | 1h | 326.01 | −0.071% | $208K | $554K | 10x | as long as short |
| Gate ARM_USDT | +0.0057% | 8h | 326.19 | −0.015% | $1.5M | $4.1M | 50x | as long as short |
| Extended ARM-USD | +0.0168% | 1h | 326.03 | −0.064% | $39K | $188K | 10x | as long as short |
| Binance ARMUSDT | +0.0170% | 8h | 326.19 | −0.016% | $8.6M | $51.1M | 20x | as long as short |
| Injective ARM/USDC PERP | +0.0220% | 1h | 328.17 | +0.592% | $5K | $52K | 12x | as long as short |
| GRVT ARM_USDT_Perp | +0.0230% | 8h | 325.91 | −0.101% | $531 | $201K | 10x | as long as short |
| Phoenix ARMshort | +0.0271% | 1h | 325.72 | −0.159% | $5K | $460K | 10x | |
| KuCoin ARMUSDTM | +0.0528% | 8h | 326.21 | −0.009% | $2.3M | $119K | 20x | as long as short |
| Deribit ARM_USDC-PERPETUAL | +0.0701% | 1h | 326.21 | −0.009% | $12K | $145K | 10x | as long as short |
Variational Omni ARM
QFEX ARM-USD
Vest ARM-USD-PERP
tradeXYZ xyz:ARM
Polymarket Perps ARM-USD
Ondo Perps ARM-USD.P
Gate ARM_USDT
Extended ARM-USD
Binance ARMUSDT
Injective ARM/USDC PERP
GRVT ARM_USDT_Perp
KuCoin ARMUSDTM
Deribit ARM_USDC-PERPETUAL