Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.023%
Price spread now: Phemex against Injective+0.214%65s7-day average +0.329% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.073%+$7 on $10k
+Price spread, last 3 days (all we have)+0.051%+$5 · spread now +0.214%, 7d avg +0.329%
=Funding pays, the price is against you. Phemex is 0.115% cheaper against Injective than usual: you would sell low and buy high (spread +0.214% now, against its 7-day average of +0.329%). If the spread goes back, that is −$12 on $10k: about 5.8 days of funding at the current rate (+$2 a day). The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective ETC/USDC PERP | 8.8750 | 0.0033 | pay 0.0004% / 1h | 35m 37s | $34 | $102K | 5.5x |
| Short | Phemex ETCUSDT | 8.8940 | 0.0100 | get 0.0100% / 8h | 7h 35m | $2.0M | $2.7M | 50x |
Injective ETC/USDC PERP
Phemex ETCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Injective. 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
- $14
- Price spread: +0.214% → +0.329%
- −$11.51
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$9.53
- Costs to cover
- 0.120%
- Break-even
- 11.8 days
Slippage unknown: Injective: no order-book sample; Phemex: live order book, 3 min ago. 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 Injective no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 3 min ago | 4.50 bp | 16.8 bp −$17 | 47.6 bp −$476 | doesn't fit | doesn't fit |
Injective: 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.
ETC on 22 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_ETCUSD | −0.0194% | 1h | 8.8934 | +0.207% | $2.0M | $719K | 50x | as long as short |
| dYdX ETC-USD | 0.0000% | 1h | 8.8936 | +0.210% | $9K | $46 | 10x | as long as short |
| Deribit ETC_USDC-PERPETUAL | 0.0000% | 1h | 8.8955 | +0.231% | $504 | $490 | 50x | as long as short |
| gTrade (Gains Network) ETC/USD | L +0.0006% / S −0.0006% | 1h | 8.8970 | +0.248% | — | — | 150x | as long as short |
| Injective ETC/USDC PERPlong | +0.0033% | 1h | 8.8750 | long leg | $34 | $102K | 5.5x | |
| Hyperliquid ETC | +0.0100% | 1h | 8.9016 | +0.300% | $2.5M | $582K | 5x | as long as short |
| Aster ETCUSDT | +0.0100% | 8h | 8.8897 | +0.166% | $995K | $11K | 10x | as long as short |
| Binance ETCUSDT | +0.0100% | 8h | 8.8880 | +0.147% | $26.5M | $68.4M | 75x | as long as short |
| Bybit ETCUSDT | +0.0100% | 8h | 8.8820 | +0.079% | $13.0M | $7.3M | 75x | as long as short |
| OKX ETC-USDT-SWAP | +0.0100% | 8h | 8.8830 | +0.090% | $8.8M | $16.9M | 50x | as long as short |
Kraken Futures PF_ETCUSD
dYdX ETC-USD
Deribit ETC_USDC-PERPETUAL
gTrade (Gains Network) ETC/USD
Hyperliquid ETC
Aster ETCUSDT
Binance ETCUSDT
Bybit ETCUSDT
OKX ETC-USDT-SWAPShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ETC_USDT | +0.0100% | 8h | 8.8930 | +0.203% | $3.6M | $2.5M | 60x | as long as short |
| MEXC ETC_USDT | +0.0100% | 8h | 8.8900 | +0.169% | $7.9M | $32.5M | 200x | as long as short |
| KuCoin ETCUSDTM | +0.0100% | 8h | 8.8950 | +0.225% | $2.9M | $706K | 50x | as long as short |
| Bitget ETCUSDT | +0.0100% | 8h | 8.8927 | +0.199% | $9.9M | $3.8M | 75x | as long as short |
| BingX ETC-USDT | +0.0100% | 8h | 8.8880 | +0.146% | — | $20.9M | — | as long as short |
| Variational Omni ETC | +0.0100% | 8h | 8.8856 | +0.120% | $126K | $2K | — | as long as short |
| SoDEX ETC-USD | +0.0100% | 1h | 8.8940 | +0.214% | $151 | $5K | 5x | as long as short |
| HTX ETC-USDT | +0.0100% | 8h | 8.8935 | +0.208% | $121K | $295K | 75x | as long as short |
| Phemex ETCUSDTshort | +0.0100% | 8h | 8.8940 | +0.214% | $2.0M | $2.7M | 50x | |
| Extended ETC-USD | +0.0104% | 1h | 8.8885 | +0.152% | $12K | $154K | 25x | as long as short |
| BloFin ETC-USDT | +0.0220% | 8h | 8.8990 | +0.270% | $1.4M | $217K | 50x | as long as short |
| Coinbase International ETC-PERP-INTX | +0.0672% | 1h | 8.9470 | +0.811% | $35K | $14K | 50x | as long as short |
Gate ETC_USDT
MEXC ETC_USDT
KuCoin ETCUSDTM
Bitget ETCUSDT
BingX ETC-USDT
Variational Omni ETC
SoDEX ETC-USD
HTX ETC-USDT
Extended ETC-USD
BloFin ETC-USDT
Coinbase International ETC-PERP-INTX