Funding you earn now, next payment 08:00 UTC−0.0148%/8h= −16.2% APRnext payment −$1.48 per $10,000 · paid last 24h −0.047%
Price spread now: Orderly against Phemex−0.044%7-day average −0.006% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.179%−$18 on $10k
+Price spread, last 3 days (all we have)+0.026%+$3 · spread now −0.044%, 7d avg −0.006%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Orderly is 0.039% cheaper against Phemex than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.006%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex ARBUSDT | 0.2254 | 0.0100 | pay 0.0100% / 8h | 7h 28m | $5.1M | $13.0M | 50x |
| Short | Orderly PERP_ARB_USDC | 0.2253 | −0.0048 | pay 0.0048% / 8h | 7h 28m | $12K | $386K | 10x |
Phemex ARBUSDT
Orderly PERP_ARB_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$31.03
- Price spread: −0.044% → −0.006%
- −$3.87
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$52.89
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Phemex: live order book, 5 min ago; Orderly: 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, 5 min ago | 6.67 bp | 17.5 bp −$18 | 27.0 bp −$270 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | −0.1666% | 1h | 0.2241 | −0.577% | $40K | $372K | 12x | as long as short |
| Variational Omni ARB | −0.0206% | 8h | 0.2249 | −0.208% | $2.0M | $2.8M | — | as long as short |
| Bybit ARBUSDT | −0.0161% | 8h | 0.2255 | +0.062% | $58.3M | $126.3M | 50x | as long as short |
| 01 Exchange ARBUSD | −0.0152% | 1h | 0.2256 | +0.093% | $7K | $2K | 10x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0138% | 1h | 0.2256 | +0.106% | $1.1M | $4.9M | 50x | as long as short |
| OKX ARB-USDT-SWAP | −0.0119% | 8h | 0.2256 | +0.080% | $22.7M | $156.9M | 50x | as long as short |
| MEXC ARB_USDT | −0.0118% | 8h | 0.2258 | +0.160% | $38.6M | $59.1M | 200x | as long as short |
| SoDEX ARB-USD | −0.0092% | 1h | 0.2254 | −0.013% | $4K | $2.5M | 5x | as long as short |
| Orderly PERP_ARB_USDCshort | −0.0048% | 8h | 0.2253 | −0.044% | $12K | $386K | 10x | |
| Extended ARB-USD | −0.0008% | 1h | 0.2258 | +0.171% | $363K | $3.6M | 25x | as long as short |
Injective ARB/USDC PERP
Variational Omni ARB
Bybit ARBUSDT
01 Exchange ARBUSD
Kraken Futures PF_ARBUSD
OKX ARB-USDT-SWAP
MEXC ARB_USDT
SoDEX ARB-USD
Extended ARB-USDShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance ARBUSDT | −0.0002% | 8h | 0.2257 | +0.124% | $66.4M | $309.7M | 75x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2259 | +0.211% | $67K | $4K | 10x | as long as short |
| Deribit ARB_USDC-PERPETUAL | 0.0000% | 1h | 0.2255 | +0.031% | $25K | $34K | 25x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0006% | 1h | 0.2254 | −0.016% | $32K | — | 150x | as long as short |
| BingX ARB-USDC | +0.0067% | 8h | 0.2258 | +0.169% | — | $6.5M | — | as long as short |
| Bitget ARBUSDT | +0.0075% | 8h | 0.2256 | +0.089% | $21.5M | $35.6M | 50x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2255 | +0.062% | $143K | $7K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2260 | +0.244% | $1.4M | $7.3M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2262 | +0.359% | $40.8M | $47.3M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2260 | +0.268% | $703K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2259 | +0.220% | $44K | $185K | 10x | as long as short |
| Gate ARB_USDT | +0.0100% | 8h | 0.2258 | +0.200% | $5.4M | $19.8M | 60x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2261 | +0.293% | $19.7M | $15.8M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2249 | −0.243% | $40K | $464K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2251 | −0.120% | $486K | $3.5M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2246 | −0.355% | $121K | $296K | 50x | as long as short |
| Polymarket Perps ARB-USD | +0.0100% | 1h | 0.2256 | +0.111% | $65K | $2.0M | 10x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2255 | +0.044% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2257 | +0.133% | $293K | $975K | 50x | as long as short |
| Phemex ARBUSDTlong | +0.0100% | 8h | 0.2254 | long leg | $5.1M | $13.0M | 50x | |
| BloFin ARB-USDT | +0.0115% | 8h | 0.2256 | +0.089% | $3.1M | $2.8M | 75x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0232% | 1h | 0.2257 | +0.133% | $509K | $2.2M | 50x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0288% / S −0.0175% | 1h | 0.2254 | 0.000% | $892K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2255 | +0.063% | $2K | $695 | 20x | as long as short |
| RISEx ARB/USDC | +0.0384% | 1h | 0.2260 | +0.247% | $513K | $2.6M | 10x | as long as short |
| Backpack ARB_USDC_PERP | +0.0511% | 1h | 0.2260 | +0.266% | $1.0M | $2.8M | 20x | as long as short |
Binance ARBUSDT
dYdX ARB-USD
Deribit ARB_USDC-PERPETUAL
gTrade (Gains Network) ARB/USD
BingX ARB-USDC
Bitget ARBUSDT
Aevo ARB-PERP
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
Gate ARB_USDT
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
ApeX Omni ARBUSDT
Polymarket Perps ARB-USD
SunX ARB-USDT
HTX ARB-USDT
BloFin ARB-USDT
Coinbase International ARB-PERP-INTX
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP
RISEx ARB/USDC
Backpack ARB_USDC_PERP