Funding you earn now, next payment 07:00 UTC−0.0082%/8h= −9.0% APRpaid last 24h −0.001%
Price spread now: Phemex against Deribit−0.022%57s7-day average −0.067% · you buy dearer than you sell
Net, funding: paid 7d − costs−$50as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$570.566% of the position
Funding, last 7 days+0.068%+$7 on $10k
+Price spread, last 4 days (all we have)−0.044%−$4 · spread now −0.022%, 7d avg −0.067%
=The price spread pays, funding is against you. Phemex is 0.045% dearer against Deribit than usual: you sell high and buy low (spread −0.022% now, against its 7-day average of −0.067%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 44 hours. Mind the row above: over the last 7 days funding on this pair paid +0.068%, so the current rate has only just turned against you. The two prices were read 57 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 | Deribit HBAR_USDC-PERPETUAL | 0.09266 | 0.0182 | pay 0.0023% / 1h | 46m 23s | $510K | $178K | 50x |
| Short | Phemex HBARUSDT | 0.09264 | 0.0100 | get 0.0100% / 8h | 1h 46m | $2.1M | $2.2M | 50x |
Deribit HBAR_USDC-PERPETUAL
Phemex HBARUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Deribit. 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
- −$17.22
- Price spread: −0.022% → −0.067%
- $4.54
- Slippage, 4 orders
- −$37.61
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$69.29
- Costs to cover
- 0.566%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 62 min ago; Phemex: live order book, 2 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 Deribit live order book, 62 min ago | 5.96 bp | 9.5 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 2 min ago | 2.70 bp | 19.9 bp −$20 | 38.2 bp −$382 | doesn't fit | doesn't fit |
HBAR 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack HBAR_USDC_PERP | −0.0668% | 1h | 0.09264 | −0.022% | $33K | $202K | 15x | as long as short |
| Kraken Futures PF_HBARUSD | −0.0267% | 1h | 0.09261 | −0.053% | $1.3M | $3.0M | 50x | as long as short |
| dYdX HBAR-USD | 0.0000% | 1h | 0.09260 | −0.069% | $30K | $4K | 5x | as long as short |
| gTrade (Gains Network) HBAR/USD | L +0.0007% / S −0.0011% | 1h | 0.09261 | −0.052% | $9K | — | 150x | as long as short |
| Injective HBAR/USDC PERP | +0.0033% | 1h | 0.09282 | +0.173% | $1K | $103K | 12x | as long as short |
| Orderly PERP_HBAR_USDC | +0.0077% | 8h | 0.09256 | −0.108% | $4K | $16K | 10x | as long as short |
| Coinbase International HBAR-PERP-INTX | +0.0080% | 1h | 0.09264 | −0.022% | $213K | $2.3M | 50x | as long as short |
| Lighter HBAR | +0.0096% | 1h | 0.09259 | −0.076% | $558K | $600K | 5x | as long as short |
| Hyperliquid HBAR | +0.0100% | 1h | 0.09269 | +0.033% | $8.7M | $3.7M | 5x | as long as short |
| Aster HBARUSDT | +0.0100% | 8h | 0.09262 | −0.038% | $199K | $333K | 50x | as long as short |
Backpack HBAR_USDC_PERP
Kraken Futures PF_HBARUSD
dYdX HBAR-USD
gTrade (Gains Network) HBAR/USD
Injective HBAR/USDC PERP
Orderly PERP_HBAR_USDC
Coinbase International HBAR-PERP-INTX
Lighter HBAR
Hyperliquid HBAR
Aster HBARUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance HBARUSDT | +0.0100% | 8h | 0.09256 | −0.108% | $34.1M | $112.0M | 75x | as long as short |
| Bybit HBARUSDT | +0.0100% | 8h | 0.09259 | −0.076% | $31.7M | $35.9M | 75x | as long as short |
| OKX HBAR-USDT-SWAP | +0.0100% | 8h | 0.09259 | −0.076% | $6.5M | $25.4M | 50x | as long as short |
| Gate HBAR_USDT | +0.0100% | 8h | 0.09257 | −0.097% | $2.4M | $2.7M | 75x | as long as short |
| MEXC HBAR_USDT | +0.0100% | 8h | 0.09257 | −0.097% | $24.9M | $19.7M | 200x | as long as short |
| KuCoin HBARUSDTM | +0.0100% | 8h | 0.09259 | −0.076% | $7.4M | $7.5M | 75x | as long as short |
| Bitget HBARUSDT | +0.0100% | 8h | 0.09258 | −0.086% | $17.2M | $16.0M | 75x | as long as short |
| BingX HBAR-USDC | +0.0100% | 8h | 0.09258 | −0.086% | — | $6.7M | — | as long as short |
| Variational Omni HBAR | +0.0100% | 8h | 0.09262 | −0.043% | $1.0M | $187K | — | as long as short |
| GRVT HBAR_USDT_Perp | +0.0100% | 8h | 0.09258 | −0.082% | $378K | $3.0M | 10x | as long as short |
| ApeX Omni HBARUSDT | +0.0100% | 1h | 0.09264 | −0.022% | $150K | $704K | 50x | as long as short |
| SoDEX HBAR-USD | +0.0100% | 1h | 0.09263 | −0.032% | $430 | $5K | 5x | as long as short |
| HTX HBAR-USDT | +0.0100% | 8h | 0.09281 | +0.162% | $70K | $70K | 20x | as long as short |
| Phemex HBARUSDTshort | +0.0100% | 8h | 0.09264 | −0.022% | $2.1M | $2.2M | 50x | |
| Extended HBAR-USD | +0.0104% | 1h | 0.09255 | −0.121% | $60K | $238K | 10x | as long as short |
| Deribit HBAR_USDC-PERPETUALlong | +0.0182% | 1h | 0.09266 | long leg | $510K | $178K | 50x | |
| BloFin HBAR-USDT | +0.0220% | 8h | 0.09264 | −0.022% | $1.5M | $5.7M | 90x | as long as short |
| GMX HBAR/USD [WBTC.b-USDC] | L +0.0359% / S −0.0261% | 1h | 0.09260 | −0.069% | $83K | — | 100x | as long as short |
Binance HBARUSDT
Bybit HBARUSDT
OKX HBAR-USDT-SWAP
Gate HBAR_USDT
MEXC HBAR_USDT
KuCoin HBARUSDTM
Bitget HBARUSDT
BingX HBAR-USDC
Variational Omni HBAR
GRVT HBAR_USDT_Perp
ApeX Omni HBARUSDT
SoDEX HBAR-USD
HTX HBAR-USDT
Extended HBAR-USD
BloFin HBAR-USDT
GMX HBAR/USD [WBTC.b-USDC]