Funding you earn now, next payment 16:00 UTC−0.0231%/8h= −25.3% APRnext payment −$2.31 per $10,000 · paid last 24h 0.000%
Price spread now: Gate against Phemex+0.034%7-day average −0.008% · you sell dearer than you buy
Net, funding: paid 7d − costs−$79as in the Funding arb table
Net, price: spread back to 7d avg − costs−$68as in the Price arb table
costs, in and out, $10k−$730.727% of the position
Funding, last 7 days−0.065%−$6 on $10k
+Price spread, last 4 days (all we have)+0.203%+$20 · spread now +0.034%, 7d avg −0.008%
=The price spread pays, funding is against you. Gate is 0.042% dearer against Phemex than usual: you sell high and buy low (spread +0.034% now, against its 7-day average of −0.008%): +$4 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 15 hours. At the pace of the last 7 days (−0.065% in total) that is about 4.6 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.065% in total (about -3.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.31 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex ETCUSDT | 8.7160 | 0.0100 | pay 0.0100% / 8h | 4h 09m | $1.8M | $2.7M | 50x |
| Short | Gate ETC_USDT | 8.7190 | −0.0131 | pay 0.0131% / 8h | 4h 09m | $3.5M | $3.0M | 60x |
Phemex ETCUSDT
Gate ETC_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$48.51
- Price spread: +0.034% → −0.008%
- $4.24
- Slippage, 4 orders
- −$45.66
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$116.93
- Costs to cover
- 0.727%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 2 min ago; Gate: 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, 2 min ago | 1.15 bp | 13.3 bp −$13 | 58.3 bp −$583 | doesn't fit | doesn't fit |
| Sell Gate live order book, 1 min ago | 3.45 bp | 22.2 bp −$22 | 62.3 bp −$623 | doesn't fit | doesn't fit |
ETC on 22 exchanges
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 | −0.0263% | 1h | 8.7129 | −0.035% | $1.9M | $726K | 50x | as long as short |
| Deribit ETC_USDC-PERPETUAL | −0.0232% | 1h | 8.7061 | −0.114% | — | — | 50x | as long as short |
| Gate ETC_USDTshort | −0.0131% | 8h | 8.7190 | +0.034% | $3.5M | $3.0M | 60x | |
| Bybit ETCUSDT | −0.0027% | 8h | 8.7110 | −0.057% | $12.9M | $9.0M | 75x | as long as short |
| dYdX ETC-USD | +0.0004% | 1h | 8.7213 | +0.061% | $8K | $3K | 10x | as long as short |
| gTrade (Gains Network) ETC/USD | L +0.0006% / S 0.0000% | 1h | 8.7155 | −0.006% | $195 | — | 150x | as long as short |
| Injective ETC/USDC PERP | +0.0033% | 1h | 8.8750 | +1.824% | $34 | $102K | 5.5x | as long as short |
| Hyperliquid ETC | +0.0100% | 1h | 8.7176 | +0.018% | $2.6M | $596K | 5x | as long as short |
| Aster ETCUSDT | +0.0100% | 8h | 8.7157 | −0.004% | $975K | $10K | 10x | as long as short |
| Binance ETCUSDT | +0.0100% | 8h | 8.7190 | +0.034% | $25.9M | $66.2M | 75x | as long as short |
Kraken Futures PF_ETCUSD
Deribit ETC_USDC-PERPETUAL
Bybit ETCUSDT
dYdX ETC-USD
gTrade (Gains Network) ETC/USD
Injective ETC/USDC PERP
Hyperliquid ETC
Aster ETCUSDT
Binance ETCUSDTShow all 22 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ETC-USDT-SWAP | +0.0100% | 8h | 8.7200 | +0.046% | $8.6M | $16.3M | 50x | as long as short |
| MEXC ETC_USDT | +0.0100% | 8h | 8.7190 | +0.034% | $6.5M | $23.2M | 200x | as long as short |
| KuCoin ETCUSDTM | +0.0100% | 8h | 8.7150 | −0.011% | $2.8M | $917K | 50x | as long as short |
| Bitget ETCUSDT | +0.0100% | 8h | 8.7210 | +0.057% | $9.5M | $3.8M | 75x | as long as short |
| BingX ETC-USDC | +0.0100% | 8h | 8.7200 | +0.046% | — | $700K | — | as long as short |
| Variational Omni ETC | +0.0100% | 8h | 8.6981 | −0.205% | $122K | $5K | — | as long as short |
| SoDEX ETC-USD | +0.0100% | 1h | 8.7080 | −0.092% | $228 | $5K | 5x | as long as short |
| HTX ETC-USDT | +0.0100% | 8h | 8.7089 | −0.081% | $120K | $316K | 75x | as long as short |
| Phemex ETCUSDTlong | +0.0100% | 8h | 8.7160 | long leg | $1.8M | $2.7M | 50x | |
| Extended ETC-USD | +0.0104% | 1h | 8.7172 | +0.013% | $2K | $222K | 25x | as long as short |
| BloFin ETC-USDT | +0.0400% | 8h | 8.7090 | −0.080% | $1.4M | $312K | 50x | as long as short |
| Coinbase International ETC-PERP-INTX | +0.0504% | 1h | 8.7300 | +0.161% | $33K | $13K | 50x | as long as short |
OKX ETC-USDT-SWAP
MEXC ETC_USDT
KuCoin ETCUSDTM
Bitget ETCUSDT
BingX ETC-USDC
Variational Omni ETC
SoDEX ETC-USD
HTX ETC-USDT
Extended ETC-USD
BloFin ETC-USDT
Coinbase International ETC-PERP-INTX