Funding you earn now, next payment 02:00 UTC−0.1638%/8h= −179.4% APRpaid last 24h −0.258%
Price spread now: Deribit against Phemex+0.083%7-day average −0.120% · you sell dearer than you buy
Net, funding: paid 7d − costs−$230as in the Funding arb table
Net, price: spread back to 7d avg − costs−$49as in the Price arb table
costs, in and out, $10k−$700.696% of the position
Funding, last 7 days−1.601%−$160 on $10k
+Price spread, last 3 days (all we have)−0.238%−$24 · spread now +0.083%, 7d avg −0.120%
=The price spread pays, funding is against you. Deribit is 0.203% dearer against Phemex than usual: you sell high and buy low (spread +0.083% now, against its 7-day average of −0.120%): +$20 on $10k if it goes back. Holding the pair costs −$49 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 7 days (−1.601% in total) that is about 21 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex DOTUSDT | 1.2070 | 0.0400 | pay 0.0400% / 8h | 6h 21m | $2.3M | $2.2M | 50x |
| Short | Deribit DOT_USDC-PERPETUAL | 1.2080 | −0.1238 | pay 0.0155% / 1h | 21m 50s | $221K | $116K | 50x |
Phemex DOTUSDT
Deribit DOT_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$343.97
- Price spread: +0.083% → −0.120%
- $20.26
- Slippage, 4 orders
- −$50.55
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$393.27
- Costs to cover
- 0.696%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 2 min ago; Deribit: live order book, 47 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, 2 min ago | 8.27 bp | 20.2 bp −$20 | 45.9 bp −$459 | 108.4 bp −$10.8K | doesn't fit |
| Sell Deribit live order book, 47 min ago | 4.53 bp | 12.1 bp −$12 | 23.9 bp −$239 | doesn't fit | doesn't fit |
DOT on 28 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-PERPETUALshort | −0.1238% | 1h | 1.2080 | +0.083% | $221K | $116K | 50x | |
| Reya DOTRUSDPERP | −0.0166% | 1h | 1.2077 | +0.058% | $261 | — | — | as long as short |
| Coinbase International DOT-PERP-INTX | −0.0024% | 1h | 1.2080 | +0.083% | $199K | $1.9M | 50x | as long as short |
| dYdX DOT-USD | 0.0000% | 1h | 1.2087 | +0.139% | $146K | $6K | 10x | as long as short |
| gTrade (Gains Network) DOT/USD | L 0.0000% / S +0.0004% | 1h | 1.2069 | −0.009% | $3K | — | 150x | as long as short |
| Injective DOT/USDC PERP | +0.0033% | 1h | 1.2020 | −0.414% | $328 | $121K | 12x | as long as short |
| OKX DOT-USDT-SWAP | +0.0051% | 8h | 1.2058 | −0.099% | $9.5M | $24.5M | 50x | as long as short |
| KuCoin DOTUSDTM | +0.0087% | 8h | 1.2066 | −0.033% | $6.5M | $9.2M | 75x | as long as short |
| Lighter DOT | +0.0096% | 1h | 1.2069 | −0.004% | $272K | $630K | 10x | as long as short |
| Hyperliquid DOT | +0.0100% | 1h | 1.2064 | −0.050% | $5.4M | $3.4M | 10x | as long as short |
Reya DOTRUSDPERP
Coinbase International DOT-PERP-INTX
dYdX DOT-USD
gTrade (Gains Network) DOT/USD
Injective DOT/USDC PERP
OKX DOT-USDT-SWAP
KuCoin DOTUSDTM
Lighter DOT
Hyperliquid DOTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster DOTUSDT | +0.0100% | 8h | 1.2062 | −0.062% | $873K | $704K | 50x | as long as short |
| Binance DOTUSDT | +0.0100% | 8h | 1.2062 | −0.066% | $44.6M | $85.1M | 75x | as long as short |
| Bybit DOTUSDT | +0.0100% | 8h | 1.2060 | −0.083% | $24.8M | $19.1M | 75x | as long as short |
| Gate DOT_USDT | +0.0100% | 8h | 1.2060 | −0.083% | $6.8M | $11.7M | 75x | as long as short |
| MEXC DOT_USDT | +0.0100% | 8h | 1.2067 | −0.025% | $35.8M | $46.7M | 300x | as long as short |
| Bitget DOTUSDT | +0.0100% | 8h | 1.2060 | −0.083% | $23.0M | $14.8M | 75x | as long as short |
| BingX DOT-USDT | +0.0100% | 8h | 1.2063 | −0.058% | — | $29.8M | — | as long as short |
| Backpack DOT_USDC_PERP | +0.0100% | 1h | 1.2060 | −0.083% | $96K | $127K | 10x | as long as short |
| Variational Omni DOT | +0.0100% | 8h | 1.2052 | −0.153% | $548K | $59K | — | as long as short |
| edgeX DOTUSDC | +0.0100% | 4h | 1.2037 | −0.272% | $35K | $333K | 20x | as long as short |
| GRVT DOT_USDT_Perp | +0.0100% | 8h | 1.2070 | 0.000% | $232K | $432K | 10x | as long as short |
| Orderly PERP_DOT_USDC | +0.0100% | 8h | 1.2070 | 0.000% | $8K | $23K | 10x | as long as short |
| SunX DOT-USDT | +0.0100% | 8h | 1.2089 | +0.157% | $2K | $1.3M | 20x | as long as short |
| HTX DOT-USDT | +0.0100% | 8h | 1.2067 | −0.025% | $251K | $224K | 75x | as long as short |
| Extended DOT-USD | +0.0104% | 1h | 1.2054 | −0.130% | $14K | $299K | 25x | as long as short |
| Kraken Futures PF_DOTUSD | +0.0194% | 1h | 1.2070 | +0.001% | $4.5M | $1.5M | 50x | as long as short |
| GMX DOT/USD [WBTC.b-USDC] | L +0.0304% / S −0.1012% | 1h | 1.2064 | −0.047% | $22K | — | 100x | as long as short |
| Phemex DOTUSDTlong | +0.0400% | 8h | 1.2070 | long leg | $2.3M | $2.2M | 50x |
Aster DOTUSDT
Binance DOTUSDT
Bybit DOTUSDT
Gate DOT_USDT
MEXC DOT_USDT
Bitget DOTUSDT
BingX DOT-USDT
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
GMX DOT/USD [WBTC.b-USDC]