Funding you earn now, next payment 08:00 UTC−0.0358%/8h= −39.2% APRnext payment −$3.58 per $10,000 · paid last 24h −0.091%
Price spread now: Bybit against Phemex−0.148%7-day average −0.220% · you buy dearer than you sell
Net, funding: paid 7d − costs−$136as in the Funding arb table
Net, price: spread back to 7d avg − costs−$55as in the Price arb table
costs, in and out, $10k−$630.626% of the position
Funding, last 7 days−0.738%−$74 on $10k
+Price spread, last 3 days (all we have)−0.042%−$4 · spread now −0.148%, 7d avg −0.220%
=The price spread pays, funding is against you. Bybit is 0.072% dearer against Phemex than usual: you sell high and buy low (spread −0.148% now, against its 7-day average of −0.220%): +$7 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 16 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex DOTUSDT | 1.2150 | 0.0458 | pay 0.0458% / 8h | 7h 09m | $2.3M | $2.1M | 50x |
| Short | Bybit DOTUSDT | 1.2132 | 0.0100 | get 0.0100% / 8h | 7h 09m | $25.1M | $18.7M | 75x |
Phemex DOTUSDT
Bybit DOTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$75.27
- Price spread: −0.148% → −0.220%
- $7.2
- Slippage, 4 orders
- −$39.6
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$130.67
- Costs to cover
- 0.626%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 4 min ago; Bybit: live order book, 4 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, 4 min ago | 4.11 bp | 20.8 bp −$21 | 52.8 bp −$528 | 124.2 bp −$12.4K | doesn't fit |
| Sell Bybit live order book, 4 min ago | 0.41 bp | 10.5 bp −$11 | 22.4 bp −$224 | 68.9 bp −$6,894 | doesn't fit |
DOT on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit DOT_USDC-PERPETUAL | −0.0984% | 1h | 1.2140 | −0.082% | $222K | $116K | 50x | as long as short |
| Reya DOTRUSDPERP | −0.0166% | 1h | 1.2135 | −0.122% | $263 | — | — | as long as short |
| Coinbase International DOT-PERP-INTX | −0.0048% | 1h | 1.2150 | 0.000% | $209K | $1.8M | 50x | as long as short |
| dYdX DOT-USD | 0.0000% | 1h | 1.2158 | +0.065% | $146K | $6K | 10x | as long as short |
| gTrade (Gains Network) DOT/USD | L 0.0000% / S +0.0004% | 1h | 1.2142 | −0.066% | $5K | — | 150x | as long as short |
| OKX DOT-USDT-SWAP | +0.0025% | 8h | 1.2132 | −0.148% | $9.5M | $24.3M | 50x | as long as short |
| Injective DOT/USDC PERP | +0.0033% | 1h | 1.2020 | −1.070% | $328 | $121K | 12x | as long as short |
| KuCoin DOTUSDTM | +0.0072% | 8h | 1.2131 | −0.156% | $6.6M | $9.1M | 75x | as long as short |
| Lighter DOT | +0.0096% | 1h | 1.2128 | −0.179% | $246K | $602K | 10x | as long as short |
| Hyperliquid DOT | +0.0100% | 1h | 1.2130 | −0.165% | $5.4M | $3.4M | 10x | as long as short |
Deribit DOT_USDC-PERPETUAL
Reya DOTRUSDPERP
Coinbase International DOT-PERP-INTX
dYdX DOT-USD
gTrade (Gains Network) DOT/USD
OKX DOT-USDT-SWAP
Injective DOT/USDC PERP
KuCoin DOTUSDTM
Lighter DOT
Hyperliquid DOTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster DOTUSDT | +0.0100% | 8h | 1.2133 | −0.144% | $883K | $695K | 50x | as long as short |
| Binance DOTUSDT | +0.0100% | 8h | 1.2144 | −0.049% | $44.7M | $83.3M | 75x | as long as short |
| Bybit DOTUSDTshort | +0.0100% | 8h | 1.2132 | −0.148% | $25.1M | $18.7M | 75x | |
| Gate DOT_USDT | +0.0100% | 8h | 1.2130 | −0.165% | $6.8M | $11.7M | 75x | as long as short |
| MEXC DOT_USDT | +0.0100% | 8h | 1.2139 | −0.091% | $28.1M | $43.6M | 300x | as long as short |
| Bitget DOTUSDT | +0.0100% | 8h | 1.2130 | −0.165% | $23.2M | $14.4M | 75x | as long as short |
| BingX DOT-USDC | +0.0100% | 8h | 1.2138 | −0.099% | — | $1.3M | — | as long as short |
| Backpack DOT_USDC_PERP | +0.0100% | 1h | 1.2127 | −0.189% | $97K | $125K | 10x | as long as short |
| Variational Omni DOT | +0.0100% | 8h | 1.2121 | −0.243% | $552K | $61K | — | as long as short |
| edgeX DOTUSDC | +0.0100% | 4h | 1.2125 | −0.205% | $36K | $335K | 20x | as long as short |
| GRVT DOT_USDT_Perp | +0.0100% | 8h | 1.2138 | −0.100% | $235K | $450K | 10x | as long as short |
| Orderly PERP_DOT_USDC | +0.0100% | 8h | 1.2130 | −0.165% | $8K | $22K | 10x | as long as short |
| SunX DOT-USDT | +0.0100% | 8h | 1.2177 | +0.222% | $2K | $1.3M | 20x | as long as short |
| HTX DOT-USDT | +0.0100% | 8h | 1.2146 | −0.033% | $252K | $223K | 75x | as long as short |
| Extended DOT-USD | +0.0104% | 1h | 1.2130 | −0.162% | $15K | $295K | 25x | as long as short |
| Kraken Futures PF_DOTUSD | +0.0115% | 1h | 1.2135 | −0.121% | $4.5M | $1.4M | 50x | as long as short |
| BloFin DOT-USDT | +0.0220% | 8h | 1.2128 | −0.181% | $2.2M | $798K | 75x | as long as short |
| GMX DOT/USD [WBTC.b-USDC] | L +0.0304% / S −0.1012% | 1h | 1.2142 | −0.069% | $23K | — | 100x | as long as short |
| Phemex DOTUSDTlong | +0.0458% | 8h | 1.2150 | long leg | $2.3M | $2.1M | 50x |
Aster DOTUSDT
Binance DOTUSDT
Gate DOT_USDT
MEXC DOT_USDT
Bitget DOTUSDT
BingX DOT-USDC
Backpack DOT_USDC_PERP
Variational Omni DOT
edgeX DOTUSDC
GRVT DOT_USDT_Perp
Orderly PERP_DOT_USDC
SunX DOT-USDT
HTX DOT-USDT
Extended DOT-USD
Kraken Futures PF_DOTUSD
BloFin DOT-USDT
GMX DOT/USD [WBTC.b-USDC]