Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against Phemex−0.056%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.094%−$9 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.056% cheaper against Phemex than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ARBUSDT	0.2282	0.0100	pay 0.0100% / 8h	45m 56s	$5.3M	$13.3M	50x
Short	dYdX ARB-USD	0.2281	0	get 0.0000% / 1h	45m 56s	$67K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhemexbpFee dYdXbpOrdersPrice spread, now −0.056%Rate

Funding earned: −$21
Price spread: −0.056% → 0.000%: −$5.58
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$48.58
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 3 min ago; dYdX: no order-book sample. Net counts fees only.

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	8.69 bp	18.0 bp −$18	33.0 bp −$330	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ARB on 36 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 ARB/USDC PERP	−0.1785%	1h	0.2281	−0.044%	$41K	$372K	12x	as long as short
Polymarket Perps ARB-USD	−0.0281%	1h	0.2278	−0.171%	$79K	$2.0M	10x	as long as short
Variational Omni ARB	−0.0182%	8h	0.2292	+0.441%	$1.9M	$2.7M	—	as long as short
01 Exchange ARBUSD	−0.0160%	1h	0.2279	−0.145%	$7K	$2K	10x	as long as short
Bybit ARBUSDT	−0.0157%	8h	0.2276	−0.259%	$58.6M	$129.2M	50x	as long as short
OKX ARB-USDT-SWAP	−0.0108%	8h	0.2276	−0.250%	$23.0M	$161.3M	50x	as long as short
MEXC ARB_USDT	−0.0107%	8h	0.2275	−0.311%	$38.3M	$59.5M	200x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0101%	1h	0.2279	−0.140%	$26K	$32K	25x	as long as short
SoDEX ARB-USD	−0.0066%	1h	0.2278	−0.180%	$4K	$2.6M	5x	as long as short
Orderly PERP_ARB_USDC	−0.0041%	8h	0.2279	−0.131%	$13K	$398K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ARB-USDshort	0.0000%	1h	0.2281	−0.056%	$67K	$4K	10x
Extended ARB-USD	0.0000%	1h	0.2274	−0.352%	$363K	$2.3M	25x	as long as short
Binance ARBUSDT	+0.0002%	8h	0.2277	−0.232%	$66.5M	$314.8M	75x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2281	−0.062%	$56K	—	150x	as long as short
BloFin ARB-USDT	+0.0028%	8h	0.2284	+0.101%	$3.1M	$2.7M	75x	as long as short
Gate ARB_USDT	+0.0033%	8h	0.2276	−0.267%	$5.5M	$20.1M	60x	as long as short
BingX ARB-USDC	+0.0068%	8h	0.2277	−0.206%	—	$6.5M	—	as long as short
Bitget ARBUSDT	+0.0070%	8h	0.2276	−0.263%	$21.5M	$36.7M	50x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2280	−0.100%	$149K	$12K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2279	−0.123%	$1.4M	$7.4M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2280	−0.079%	$41.4M	$48.0M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2277	−0.216%	$709K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2282	−0.010%	$48K	$187K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2276	−0.259%	$19.8M	$16.3M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2299	+0.733%	$41K	$462K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2299	+0.764%	$490K	$3.7M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2291	+0.394%	$123K	$295K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2283	+0.044%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2279	−0.118%	$294K	$1.1M	50x	as long as short
Phemex ARBUSDTlong	+0.0100%	8h	0.2282	long leg	$5.3M	$13.3M	50x
Coinbase International ARB-PERP-INTX	+0.0216%	1h	0.2282	0.000%	$513K	$2.3M	50x	as long as short
Kraken Futures PF_ARBUSD	+0.0235%	1h	0.2280	−0.107%	$1.2M	$4.9M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0283% / S −0.0168%	1h	0.2281	−0.053%	$885K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0290%	1h	0.2278	−0.155%	$2K	$695	20x	as long as short
RISEx ARB/USDC	+0.0330%	1h	0.2281	−0.057%	$504K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0494%	1h	0.2280	−0.101%	$933K	$2.8M	20x	as long as short