Funding you earn now, next payment 05:00 UTC−0.0970%/8h= −106.2% APRpaid last 24h −0.012%
Price spread now: Bitget against Phoenix−0.334%99s7-day average +0.026% · you buy dearer than you sell
Net, funding: paid 7d − costs−$75as 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−$720.722% of the position
Funding, last 7 days−0.033%−$3 on $10k
+Price spread, last 4 days (all we have)+0.335%+$33 · spread now −0.334%, 7d avg +0.026%
=Both sides work against this trade now: funding costs −$29 a day on $10k at the current rate, and Bitget is 0.360% cheaper against Phoenix than usual: you would sell low and buy high (−$36 if the spread goes back to its 7-day average of +0.026%). Swap the legs. The two prices were read 99 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.033% in total (about -1.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix ARM | 320.06 | 0.0200 | pay 0.0025% / 1h | 27m 49s | $5K | $446K | 10x |
| Short | Bitget ARMUSDT | 318.99 | −0.0770 | pay 0.0770% / 8h | 2h 27m | $1.8M | $4.0M | 20x |
Phoenix ARM
Bitget ARMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Phoenix. 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
- −$203.66
- Price spread: −0.334% → +0.026%
- −$36.05
- Slippage, 4 orders
- −$53.2
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$311.9
- Costs to cover
- 0.722%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 20 min ago; Bitget: live order book, 5 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 Phoenix live order book, 20 min ago | 6.51 bp | 18.9 bp −$19 | 40.8 bp −$408 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 5 min ago | 4.37 bp | 19.9 bp −$20 | 43.1 bp −$431 | 125.1 bp −$12.5K | doesn't fit |
ARM on 24 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget ARMUSDTshort | −0.0770% | 8h | 318.99 | −0.334% | $1.8M | $4.0M | 20x | |
| edgeX ARMUSDC | −0.0698% | 4h | 319.59 | −0.145% | $34K | $352K | 10x | as long as short |
| BloFin ARM-USDT | −0.0004% | 8h | 319.72 | −0.106% | $122K | $50K | 20x | as long as short |
| Aster ARMUSDT | 0.0000% | 8h | 319.04 | −0.318% | $7K | $126K | 20x | as long as short |
| Extended ARM-USD | 0.0000% | 1h | 318.86 | −0.374% | $38K | $272K | 10x | as long as short |
| Binance ARMUSDT | 0.0000% | 8h | 318.83 | −0.383% | $8.2M | $50.6M | 20x | as long as short |
| Bybit ARMUSDT | 0.0000% | 8h | 318.91 | −0.359% | $1.9M | $2.2M | 25x | as long as short |
| OKX ARM-USDT-SWAP | 0.0000% | 8h | 318.74 | −0.412% | $1.6M | $6.6M | 20x | as long as short |
| Gate ARM_USDT | 0.0000% | 8h | 318.93 | −0.353% | $1.4M | $4.4M | 50x | as long as short |
| Variational Omni ARM | 0.0000% | 8h | 319.96 | −0.031% | $191K | $292K | — | as long as short |
edgeX ARMUSDC
BloFin ARM-USDT
Aster ARMUSDT
Extended ARM-USD
Binance ARMUSDT
Bybit ARMUSDT
OKX ARM-USDT-SWAP
Gate ARM_USDT
Variational Omni ARMShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT ARM_USDT_Perp | 0.0000% | 8h | 319.81 | −0.078% | $429 | $218K | 10x | as long as short |
| SunX ARM-USDT | 0.0000% | 8h | 319.01 | −0.328% | $791 | $2.5M | 10x | as long as short |
| HTX ARM-USDT | 0.0000% | 8h | 319.79 | −0.084% | $18K | $17K | 20x | as long as short |
| QFEX ARM-USD | +0.0011% | 1h | 319.32 | −0.231% | $1.1M | $3.6M | 10x | as long as short |
| Lighter ARM | +0.0032% | 1h | 318.70 | −0.425% | — | — | 10x | as long as short |
| Vest ARM-USD-PERP | +0.0046% | 1h | 319.35 | −0.222% | — | — | 10x | as long as short |
| Polymarket Perps ARM-USD | +0.0050% | 1h | 318.95 | −0.347% | $369K | $1.3M | 10x | as long as short |
| Ondo Perps ARM-USD.P | +0.0050% | 1h | 319.61 | −0.141% | $185K | $426K | 10x | as long as short |
| Deribit ARM_USDC-PERPETUAL | +0.0095% | 1h | 318.98 | −0.337% | $12K | $59K | 10x | as long as short |
| KuCoin ARMUSDTM | +0.0100% | 8h | 319.19 | −0.272% | $2.3M | $119K | 20x | as long as short |
| tradeXYZ xyz:ARM | +0.0141% | 1h | 318.82 | −0.387% | $8.0M | $8.7M | 10x | as long as short |
| Coinbase International ARM-PERP-INTX | +0.0176% | 1h | 320.61 | +0.172% | $100K | $304K | 10x | as long as short |
| Phoenix ARMlong | +0.0200% | 1h | 320.06 | long leg | $5K | $446K | 10x | |
| Injective ARM/USDC PERP | +0.0220% | 1h | 324.54 | +1.400% | $5K | $50K | 12x | as long as short |
GRVT ARM_USDT_Perp
SunX ARM-USDT
HTX ARM-USDT
QFEX ARM-USD
Lighter ARM
Vest ARM-USD-PERP
Polymarket Perps ARM-USD
Ondo Perps ARM-USD.P
Deribit ARM_USDC-PERPETUAL
KuCoin ARMUSDTM
tradeXYZ xyz:ARM
Coinbase International ARM-PERP-INTX
Injective ARM/USDC PERP