Funding you earn now, next payment 08:00 UTC−0.0149%/8h= −16.3% APRnext payment −$1.49 per $10,000 · paid last 24h 0.000%
Price spread now: Bitget against Phemex+0.025%46s7-day average +0.090% · you sell dearer than you buy
Net, funding: paid 7d − costs−$115as 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−$1181.181% of the position
Funding, last 7 days+0.032%+$3 on $10k
+Price spread, last 4 days (all we have)+0.071%+$7 · spread now +0.025%, 7d avg +0.090%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bitget is 0.066% cheaper against Phemex than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.090%). Swap the legs. The two prices were read 46 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 | Phemex IONQUSDT | 40.350 | 0 | get 0.0000% / 8h | 2h 44m | $695K | $101K | 20x |
| Short | Bitget IONQUSDT | 40.360 | −0.0149 | pay 0.0149% / 8h | 2h 44m | $1.5M | $400K | 20x |
Phemex IONQUSDT
Bitget IONQUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- −$31.29
- Price spread: +0.025% → +0.090%
- −$6.57
- Slippage, 4 orders
- −$94.11
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$155.97
- Costs to cover
- 1.181%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 3 min ago; Bitget: 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 Phemex live order book, 3 min ago | 4.95 bp | 43.4 bp −$43 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bitget live order book, 2 min ago | 8.67 bp | 21.9 bp −$22 | 101.6 bp −$1,016 | doesn't fit | doesn't fit |
IONQ on 12 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 IONQUSDC | −0.0601% | 4h | 40.354 | +0.011% | $1K | $188K | 10x | as long as short |
| Bitget IONQUSDTshort | −0.0149% | 8h | 40.360 | +0.025% | $1.5M | $400K | 20x | |
| BloFin IONQ-USDT | −0.0019% | 8h | 40.320 | −0.074% | $49K | $9K | 20x | as long as short |
| Binance IONQUSDT | 0.0000% | 8h | 40.334 | −0.039% | $735K | $1.3M | 20x | as long as short |
| Bybit IONQUSDT | 0.0000% | 8h | 40.320 | −0.074% | $677K | $249K | 25x | as long as short |
| OKX IONQ-USDT-SWAP | 0.0000% | 8h | 40.360 | +0.025% | $132K | $268K | 20x | as long as short |
| QFEX IONQ-USD | 0.0000% | 1h | 40.300 | −0.124% | $1.1M | $541K | 10x | as long as short |
| Gate IONQ_USDT | 0.0000% | 8h | 40.390 | +0.099% | $503K | $474K | 20x | as long as short |
| HTX IONQ-USDT | 0.0000% | 8h | 40.240 | −0.273% | $7K | $18K | 10x | as long as short |
| Phemex IONQUSDTlong | 0.0000% | 8h | 40.350 | long leg | $695K | $101K | 20x |
edgeX IONQUSDC
BloFin IONQ-USDT
Binance IONQUSDT
Bybit IONQUSDT
OKX IONQ-USDT-SWAP
QFEX IONQ-USD
Gate IONQ_USDT
HTX IONQ-USDTShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin IONQUSDTM | +0.0100% | 8h | 40.470 | +0.297% | $37K | $2.9M | 20x | as long as short |
| Entropy io:IONQ | +0.0195% | 1h | 40.307 | −0.107% | $44K | $176K | 10x | as long as short |
KuCoin IONQUSDTM
Entropy io:IONQ