Funding you earn now, next payment 02:00 UTC−0.0327%/8h= −35.8% APRpaid last 24h −0.052%
Price spread now: SoDEX against Phemex+0.104%7-day average −0.019% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$460.456% of the position
Funding, last 3 days (all we have)−0.088%−$9 on $10k
+Price spread, last 3 days (all we have)−0.140%−$14 · spread now +0.104%, 7d avg −0.019%
=The price spread pays, funding is against you. SoDEX is 0.122% dearer against Phemex than usual: you sell high and buy low (spread +0.104% now, against its 7-day average of −0.019%): +$12 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 30 hours. At the pace of the last 3 days (−0.088% in total) that is about 4.5 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.088% in total (about -9.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex ARBUSDT | 0.2217 | 0.0100 | pay 0.0100% / 8h | 6h 18m | $5.0M | $13.0M | 50x |
| Short | SoDEX ARB-USD | 0.2219 | −0.0227 | pay 0.0028% / 1h | 18m 06s | $10K | $2.5M | 5x |
Phemex ARBUSDT
SoDEX ARB-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX 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
- −$68.68
- Price spread: +0.104% → −0.019%
- $12.23
- Slippage, 4 orders
- −$25.64
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$102.1
- Costs to cover
- 0.456%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 6 min ago; SoDEX: live order book, 1 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, 6 min ago | 6.74 bp | 17.9 bp −$18 | 44.2 bp −$442 | doesn't fit | doesn't fit |
| Sell SoDEX live order book, 1 min ago | 0.22 bp | 5.5 bp −$5 | 17.8 bp −$178 | doesn't fit | doesn't fit |
ARB on 35 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 | −0.1692% | 1h | 0.2206 | −0.496% | $40K | $372K | 12x | as long as short |
| SoDEX ARB-USDshort | −0.0227% | 1h | 0.2219 | +0.104% | $10K | $2.5M | 5x | |
| 01 Exchange ARBUSD | −0.0224% | 1h | 0.2217 | +0.009% | $7K | $2K | 10x | as long as short |
| Variational Omni ARB | −0.0167% | 8h | 0.2218 | +0.033% | $1.9M | $2.9M | — | as long as short |
| OKX ARB-USDT-SWAP | −0.0126% | 8h | 0.2216 | −0.059% | $22.4M | $156.6M | 50x | as long as short |
| MEXC ARB_USDT | −0.0123% | 8h | 0.2218 | +0.041% | $39.3M | $60.2M | 200x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0065% | 1h | 0.2219 | +0.104% | $24K | $34K | 25x | as long as short |
| Orderly PERP_ARB_USDC | −0.0063% | 8h | 0.2219 | +0.090% | $12K | $383K | 10x | as long as short |
| Gate ARB_USDT | −0.0054% | 8h | 0.2218 | +0.045% | $5.4M | $19.9M | 60x | as long as short |
| Bybit ARBUSDT | −0.0036% | 8h | 0.2217 | 0.000% | $56.7M | $128.6M | 50x | as long as short |
Injective ARB/USDC PERP
01 Exchange ARBUSD
Variational Omni ARB
OKX ARB-USDT-SWAP
MEXC ARB_USDT
Deribit ARB_USDC-PERPETUAL
Orderly PERP_ARB_USDC
Gate ARB_USDT
Bybit ARBUSDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX ARB-USD | 0.0000% | 1h | 0.2220 | +0.153% | $66K | $5K | 10x | as long as short |
| Extended ARB-USD | 0.0000% | 1h | 0.2218 | +0.040% | $355K | $2.5M | 25x | as long as short |
| Binance ARBUSDT | 0.0000% | 8h | 0.2219 | +0.075% | $64.7M | $317.1M | 75x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0011% | 1h | 0.2220 | +0.154% | $10K | — | 150x | as long as short |
| ApeX Omni ARBUSDT | +0.0018% | 1h | 0.2220 | +0.135% | $120K | $285K | 50x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2220 | +0.158% | $141K | $7K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2219 | +0.108% | $1.2M | $7.4M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2218 | +0.041% | $38.7M | $51.8M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2219 | +0.085% | $661K | $1.7M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2220 | +0.140% | $42K | $184K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2219 | +0.077% | $19.6M | $15.7M | 75x | as long as short |
| Bitget ARBUSDT | +0.0100% | 8h | 0.2219 | +0.090% | $21.3M | $36.4M | 50x | as long as short |
| BingX ARB-USDC | +0.0100% | 8h | 0.2216 | −0.063% | — | $6.5M | — | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2220 | +0.140% | $40K | $462K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2224 | +0.299% | $474K | $3.7M | 10x | as long as short |
| Polymarket Perps ARB-USD | +0.0100% | 1h | 0.2219 | +0.072% | $77K | $2.1M | 10x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2219 | +0.090% | $1K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2218 | +0.027% | $298K | $996K | 50x | as long as short |
| Phemex ARBUSDTlong | +0.0100% | 8h | 0.2217 | long leg | $5.0M | $13.0M | 50x | |
| Coinbase International ARB-PERP-INTX | +0.0240% | 1h | 0.2222 | +0.226% | $508K | $2.1M | 50x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0273% / S −0.0155% | 1h | 0.2221 | +0.171% | $829K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2217 | +0.002% | $2K | $695 | 20x | as long as short |
| Kraken Futures PF_ARBUSD | +0.0311% | 1h | 0.2219 | +0.108% | $1.1M | $4.7M | 50x | as long as short |
| RISEx ARB/USDC | +0.0466% | 1h | 0.2219 | +0.070% | $478K | $2.7M | 10x | as long as short |
| Backpack ARB_USDC_PERP | +0.0536% | 1h | 0.2221 | +0.180% | $1.0M | $2.9M | 20x | as long as short |
dYdX ARB-USD
Extended ARB-USD
Binance ARBUSDT
gTrade (Gains Network) ARB/USD
ApeX Omni ARBUSDT
Aevo ARB-PERP
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
Bitget ARBUSDT
BingX ARB-USDC
edgeX ARBUSDC
GRVT ARB_USDT_Perp
Polymarket Perps ARB-USD
SunX ARB-USDT
HTX ARB-USDT
Coinbase International ARB-PERP-INTX
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP
Kraken Futures PF_ARBUSD
RISEx ARB/USDC
Backpack ARB_USDC_PERP