Funding you earn now, next payment 16:00 UTC+0.0623%/8h= +68.3% APRnext payment +$6.23 per $10,000 · paid last 24h +0.075%
Price spread now: Binance against Phemex−0.037%7-day average +0.010% · you buy dearer than you sell
Net, funding: paid 7d − costs−$185as in the Funding arb table
Net, price: spread back to 7d avg − costs−$207as in the Price arb table
costs, in and out, $10k−$2022.025% of the position
Funding, last 7 days+0.172%+$17 on $10k
+Price spread, last 4 days (all we have)+0.100%+$10 · spread now −0.037%, 7d avg +0.010%
=Funding pays, the price is against you. Binance is 0.048% cheaper against Phemex than usual: you would sell low and buy high (spread −0.037% now, against its 7-day average of +0.010%). If the spread goes back, that is −$5 on $10k: about 6 hours of funding at the current rate (+$19 a day). At the pace of the last 7 days (+0.172% in total) that is about 47 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.172% in total (about 9.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$6.23 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex NOKUSDT | 10.820 | 0 | get 0.0000% / 8h | 5h 44m | $1.6M | $645K | 10x |
| Short | Binance NOKUSDT | 10.816 | 0.0623 | get 0.0623% / 8h | 5h 44m | $7.4M | $10.4M | 20x |
Phemex NOKUSDT
Binance NOKUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- $130.91
- Price spread: −0.037% → +0.010%
- −$4.78
- Slippage, 4 orders
- −$180.49
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$76.36
- Costs to cover
- 2.025%
- Break-even
- 11.1 days
Slippage from Phemex: live order book, 1 min ago; Binance: live order book, 3 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, 1 min ago | 9.24 bp | 93.7 bp −$94 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 3 min ago | 4.61 bp | 11.5 bp −$11 | 48.0 bp −$480 | doesn't fit | doesn't fit |
NOK on 16 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Aster NOKUSDT | 0.0000% | 8h | 10.816 | −0.039% | $66K | $7K | 20x | as long as short |
| Bitget NOKSTOCKUSDT | 0.0000% | 8h | 10.851 | +0.287% | $1.5M | $545K | 20x | as long as short |
| GRVT NOK_USDT_Perp | 0.0000% | 8h | 10.844 | +0.221% | $3K | $97K | 10x | as long as short |
| SunX NOK-USDT | 0.0000% | 8h | 10.840 | +0.185% | $1K | $1.1M | 10x | as long as short |
| HTX NOK-USDT | 0.0000% | 8h | 10.850 | +0.277% | $9K | $6K | 10x | as long as short |
| Phemex NOKUSDTlong | 0.0000% | 8h | 10.820 | long leg | $1.6M | $645K | 10x | |
| Vest NOK-PERP | +0.0009% | 1h | 10.790 | −0.277% | — | — | 10x | as long as short |
| Lighter NOK | +0.0032% | 1h | 10.795 | −0.231% | — | — | 10x | as long as short |
| KuCoin NOKUSDTM | +0.0100% | 8h | 10.810 | −0.092% | $295K | $457K | 20x | as long as short |
| OKX NOK-USDT-SWAP | +0.0158% | 8h | 10.825 | +0.046% | $1.2M | $1.2M | 20x | as long as short |
Aster NOKUSDT
Bitget NOKSTOCKUSDT
GRVT NOK_USDT_Perp
SunX NOK-USDT
HTX NOK-USDT
Vest NOK-PERP
Lighter NOK
KuCoin NOKUSDTM
OKX NOK-USDT-SWAPShow all 16 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate NOK_USDT | +0.0249% | 8h | 10.831 | +0.102% | $925K | $931K | 50x | as long as short |
| tradeXYZ xyz:NOK | +0.0375% | 1h | 10.811 | −0.083% | $4.5M | $1.4M | 10x | as long as short |
| Variational Omni NOK | +0.0375% | 8h | 10.832 | +0.113% | $131K | $118K | — | as long as short |
| Binance NOKUSDTshort | +0.0623% | 8h | 10.816 | −0.037% | $7.4M | $10.4M | 20x | |
| Extended NOK-USD | +0.0624% | 1h | 10.813 | −0.068% | $37K | $278K | 10x | as long as short |
| MEXC NOKSTOCK_USDT | +0.0624% | 8h | 10.800 | −0.185% | $1.5M | $115K | 50x | as long as short |
Gate NOK_USDT
tradeXYZ xyz:NOK
Variational Omni NOK
Extended NOK-USD
MEXC NOKSTOCK_USDT