Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.031%

Price spread now: Phemex against gTrade (Gains Network)−0.075%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phemex is 0.075% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.075% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.4 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) FIL/USD	0.9917	L −0.0004% / S +0.0006%	get 0.0000% / 1h	58m 34s	$26K	—	150x
Short	Phemex FILUSDT	0.9910	0.0100	get 0.0100% / 8h	58m 34s	$1.2M	$2.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against gTrade (Gains Network). Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee gTrade (Gains Network)bpFee PhemexbpOrdersPrice spread, now −0.075%Rate

Funding earned: $21.77
Price spread: −0.075% → 0.000%: −$7.46
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$7.69
Costs to cover: 0.220%
Break-even: 9.5 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Phemex: live order book, 5 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Phemex live order book, 5 min ago	10.08 bp	29.4 bp −$29	91.2 bp −$912	doesn't fit	doesn't fit

gTrade (Gains Network): 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.

FIL 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
Coinbase International FIL-PERP-INTX	−0.0176%	1h	0.9940	+0.228%	$349K	$2.2M	50x	as long as short
Deribit FIL_USDC-PERPETUAL	−0.0153%	1h	0.9921	+0.036%	$171K	$23K	25x	as long as short
gTrade (Gains Network) FIL/USDlong	L −0.0004% / S +0.0006%	1h	0.9917	long leg	$26K	—	150x
dYdX FIL-USD	0.0000%	1h	0.9907	−0.110%	$58K	$1K	10x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−0.629%	$2K	$240K	12x	as long as short
KuCoin FILUSDTM	+0.0070%	8h	0.9903	−0.145%	$7.0M	$8.0M	50x	as long as short
OKX FIL-USDT-SWAP	+0.0087%	8h	0.9909	−0.085%	$17.8M	$108.4M	50x	as long as short
Lighter FIL	+0.0096%	1h	0.9904	−0.137%	$147K	$353K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9911	−0.059%	$8.3M	$9.4M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9905	−0.129%	$505K	$606K	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance FILUSDT	+0.0100%	8h	0.9905	−0.125%	$55.8M	$186.1M	75x	as long as short
Bybit FILUSDT	+0.0100%	8h	0.9905	−0.125%	$15.5M	$20.5M	25x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9904	−0.135%	$8.2M	$16.5M	50x	as long as short
MEXC FIL_USDC	+0.0100%	8h	0.9903	−0.145%	$229K	$98K	50x	as long as short
Bitget FILUSDT	+0.0100%	8h	0.9906	−0.115%	$11.2M	$19.7M	75x	as long as short
BingX FIL-USDT	+0.0100%	8h	0.9902	−0.155%	—	$11.8M	—	as long as short
Variational Omni FIL	+0.0100%	8h	0.9911	−0.067%	$441K	$283K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9913	−0.046%	$45K	$296K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9911	−0.064%	$292K	$1.4M	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9920	+0.026%	$27K	$184K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9925	+0.076%	$4K	$798	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9910	−0.075%	$3K	$1.2M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9913	−0.044%	$477	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9920	+0.026%	$616K	$5.6M	75x	as long as short
Phemex FILUSDTshort	+0.0100%	8h	0.9910	−0.075%	$1.2M	$2.6M	50x
Extended FIL-USD	+0.0104%	1h	0.9899	−0.185%	$697K	$1.4M	10x	as long as short
Kraken Futures PF_FILUSD	+0.0197%	1h	0.9917	−0.004%	$1.4M	$2.1M	50x	as long as short
BloFin FIL-USDT	+0.0220%	8h	0.9912	−0.054%	$2.7M	$674K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0601% / S −0.0280%	1h	0.9916	−0.017%	$265K	—	100x	as long as short