Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%
Price spread now: Phemex against Arcus+0.021%7-day average −0.018% · 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−$14as in the Price arb table
costs, in and out, $10k−$180.180% of the position
Funding, last 4 days (all we have)−0.031%−$3 on $10k
+Price spread, last 4 days (all we have)−0.195%−$20 · spread now +0.021%, 7d avg −0.018%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.040% dearer against Arcus than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.018%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus BTC-USD | 85,393.5 | 0.0100 | pay 0.0013% / 1h | 29m 02s | $5.0M | $97.4M | 40x |
| Short | Phemex BTCUSDT | 85,411.7 | 0.0100 | get 0.0100% / 8h | 7h 29m | $163.7M | $513.9M | 150x |
Arcus BTC-USD
Phemex BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Arcus. 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
- $0
- Price spread: +0.021% → −0.018%
- $3.96
- Slippage, 4 orders
- −$1.51
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$14.05
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 5 min ago; Phemex: live order book, 5 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 Arcus live order book, 5 min ago | 0.01 bp | 2.3 bp −$2 | 2.3 bp −$23 | 3.8 bp −$383 | doesn't fit |
| Sell Phemex live order book, 5 min ago | 0.01 bp | 6.0 bp −$6 | 7.3 bp −$73 | 9.0 bp −$899 | doesn't fit |
BTC on 56 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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.1165% | 1h | 85,444.6 | +0.060% | $194K | $796K | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,380 | −0.016% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,366.3 | −0.032% | $423.8M | $673.2M | 150x | as long as short |
| Injective BTC/USDC PERP | −0.0006% | 1h | 85,438 | +0.052% | $307K | $25.3M | 52x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,395.7 | +0.003% | $351K | $2.2M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,406.4 | +0.015% | $36.5M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0017% | 8h | 85,363.4 | −0.035% | $936.0M | $768.8M | 125x | as long as short |
| Aster BTCUSDT | +0.0033% | 8h | 85,384.4 | −0.011% | $502.7M | $1.08B | 200x | as long as short |
| dYdX BTC-USD | +0.0061% | 1h | 85,425.5 | +0.037% | $16.7M | $21.0M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0068% | 1h | 85,419.5 | +0.030% | $185.9M | $934.4M | 100x | as long as short |
Bluefin BTC-PERP
Hotstuff BTC-PERP
BloFin BTC-USDT
Injective BTC/USDC PERP
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Aster BTCUSDT
dYdX BTC-USD
Kraken Futures PF_XBTUSDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | +0.0075% | 1h | 85,542 | +0.174% | $2.3M | $10.4M | 40x | as long as short |
| BingX BTC-USDC | +0.0080% | 8h | 85,354.1 | −0.046% | — | $17.4M | — | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,417.7 | +0.028% | $171.0M | $946.3M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,417.8 | +0.028% | $23.5M | $134.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,375 | −0.022% | $8.7M | $58.0M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,393.3 | 0.000% | $2.4M | $6.7M | 20x | as long as short |
| Nado BTC-PERP | +0.0096% | 1h | 85,370.3 | −0.027% | $24.0M | $215.4M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,361 | −0.038% | $265K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,424.9 | +0.037% | $5.7M | $9.3M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,416.1 | +0.026% | $40.2M | $602.4M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,391.5 | −0.002% | $9.39B | $24.89B | 150x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,390.2 | −0.004% | $5.08B | $9.88B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,385.4 | −0.009% | $2.61B | $12.02B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,382 | −0.013% | $3.9M | $17.2M | 25x | as long as short |
| Arcus BTC-USDlong | +0.0100% | 1h | 85,393.5 | long leg | $5.0M | $97.4M | 40x | |
| Bulk BTC-USD | +0.0100% | 1h | 85,499.9 | +0.125% | $701.6M | $160.9M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,407 | +0.016% | $5.50B | $9.92B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,384.4 | −0.011% | $5.06B | $5.75B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 85,384 | −0.011% | $2.97B | $5.09B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,394.8 | +0.002% | $37.5M | $193.2M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,397.1 | +0.004% | $156.0M | $540.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,402.6 | +0.011% | $285.5M | $965.6M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,409.3 | +0.019% | $214.4M | $155.4M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,416.3 | +0.027% | $136.6M | $311.9M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,396.8 | +0.004% | $30.1M | $218.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,459.7 | +0.078% | — | $10.0M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,230 | −0.191% | $10.9M | $14.5M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,376 | −0.020% | $218K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,400.8 | +0.009% | $2.7M | $9.8M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,444.6 | +0.060% | $28.8M | $52.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,401.7 | +0.010% | $3.0M | $6.8M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,397 | +0.004% | $59.8M | $336.3M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,387.7 | −0.007% | $2.26B | $969.6M | 200x | as long as short |
| Phemex BTCUSDTshort | +0.0100% | 8h | 85,411.7 | +0.021% | $163.7M | $513.9M | 150x | |
| Extended BTC-USD | +0.0104% | 1h | 85,359.5 | −0.040% | $45.9M | $239.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,400 | +0.008% | — | $106.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,449.4 | +0.065% | $111.8M | $5.40B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0149% | 1h | 85,369.3 | −0.028% | $6.6M | $137.1M | 40x | as long as short |
| Hyperliquid BTC | +0.0156% | 1h | 85,484 | +0.106% | $3.83B | $5.14B | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0174% / S −0.0149% | 1h | 85,388.1 | −0.006% | $13.0M | — | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0187% | 1h | 85,451.4 | +0.068% | $832.0M | $1.66B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0194% | 8h | 85,413 | +0.023% | $9.7M | $737.9M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,401.7 | +0.010% | $8.9M | $42.3M | 25x | as long as short |
| Aftermath Perps BTCUSD | +0.0337% | 1h | 85,452.9 | +0.070% | $81K | $260K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0352% | 1h | 85,451 | +0.067% | $688K | $7.6M | 30x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,420.9 | +0.032% | $459K | $18.1M | 6.7x | as long as short |
Phoenix BTC
BingX BTC-USDC
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Nado BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
Binance BTCUSDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Bulk BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Bitget BTCUSDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Hyperliquid BTC
GMX BTC/USD [WBTC.b-USDC]
Deribit BTC-PERPETUAL
Kalshi KXBTCPERP
RISEx BTC/USDC
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
Perpl BTC