Funding you earn now, next payment 03:00 UTC−0.0195%/8h= −21.3% APRpaid last 24h −0.048%
Price spread now: Bybit against Phoenix−0.021%55s7-day average +0.019% · you buy dearer than you sell
Net, funding: paid 7d − costs−$96as 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−$740.736% of the position
Funding, last 7 days−0.226%−$23 on $10k
+Price spread, last 4 days (all we have)+0.006%+$1 · spread now −0.021%, 7d avg +0.019%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Bybit is 0.041% cheaper against Phoenix than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.019%). Swap the legs. The two prices were read 55 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 | Phoenix ARM | 326.51 | 0.0195 | pay 0.0024% / 1h | 14m 33s | $5K | $444K | 10x |
| Short | Bybit ARMUSDT | 326.44 | 0 | get 0.0000% / 8h | 4h 14m | $1.9M | $2.1M | 25x |
Phoenix ARM
Bybit ARMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$40.89
- Price spread: −0.021% → +0.019%
- −$4.06
- Slippage, 4 orders
- −$55.56
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$118.51
- Costs to cover
- 0.736%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 43 min ago; Bybit: 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 Phoenix live order book, 43 min ago | 6.39 bp | 18.9 bp −$19 | 40.7 bp −$407 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 4.59 bp | 10.3 bp −$10 | 72.3 bp −$723 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin ARM-USDT | −0.0016% | 8h | 326.55 | +0.012% | $127K | $50K | 20x | as long as short |
| Aster ARMUSDT | 0.0000% | 8h | 326.50 | −0.003% | $7K | $126K | 20x | as long as short |
| Extended ARM-USD | 0.0000% | 1h | 326.46 | −0.015% | $36K | $270K | 10x | as long as short |
| Binance ARMUSDT | 0.0000% | 8h | 326.58 | +0.021% | $8.6M | $50.0M | 20x | as long as short |
| Bybit ARMUSDTshort | 0.0000% | 8h | 326.44 | −0.021% | $1.9M | $2.1M | 25x | |
| OKX ARM-USDT-SWAP | 0.0000% | 8h | 326.45 | −0.018% | $1.7M | $6.6M | 20x | as long as short |
| Bitget ARMUSDT | 0.0000% | 8h | 327.15 | +0.196% | $1.8M | $3.9M | 20x | as long as short |
| Variational Omni ARM | 0.0000% | 8h | 326.77 | +0.079% | $212K | $302K | — | as long as short |
| GRVT ARM_USDT_Perp | 0.0000% | 8h | 326.75 | +0.074% | $359 | $201K | 10x | as long as short |
| SunX ARM-USDT | 0.0000% | 8h | 326.25 | −0.080% | $1K | $2.7M | 10x | as long as short |
BloFin ARM-USDT
Aster ARMUSDT
Extended ARM-USD
Binance ARMUSDT
OKX ARM-USDT-SWAP
Bitget ARMUSDT
Variational Omni ARM
GRVT ARM_USDT_Perp
SunX ARM-USDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit ARM_USDC-PERPETUAL | 0.0000% | 1h | 326.39 | −0.037% | $12K | $59K | 10x | as long as short |
| HTX ARM-USDT | 0.0000% | 8h | 326.84 | +0.101% | $18K | $16K | 20x | as long as short |
| QFEX ARM-USD | +0.0025% | 1h | 326.46 | −0.015% | $1.1M | $3.8M | 10x | as long as short |
| Lighter ARM | +0.0032% | 1h | 326.41 | −0.031% | — | — | 10x | as long as short |
| Vest ARM-USD-PERP | +0.0046% | 1h | 326.65 | +0.043% | — | — | 10x | as long as short |
| tradeXYZ xyz:ARM | +0.0050% | 1h | 326.39 | −0.037% | $8.2M | $8.8M | 10x | as long as short |
| Polymarket Perps ARM-USD | +0.0050% | 1h | 326.41 | −0.031% | $378K | $1.3M | 10x | as long as short |
| Ondo Perps ARM-USD.P | +0.0050% | 1h | 326.38 | −0.040% | $196K | $414K | 10x | as long as short |
| Gate ARM_USDT | +0.0070% | 8h | 326.67 | +0.049% | $1.5M | $4.3M | 50x | as long as short |
| Coinbase International ARM-PERP-INTX | +0.0088% | 1h | 326.96 | +0.138% | $98K | $305K | 10x | as long as short |
| Phoenix ARMlong | +0.0195% | 1h | 326.51 | long leg | $5K | $444K | 10x | |
| Injective ARM/USDC PERP | +0.0220% | 1h | 330.01 | +1.072% | $5K | $50K | 12x | as long as short |
| edgeX ARMUSDC | +0.0237% | 4h | 326.72 | +0.063% | $35K | $349K | 10x | as long as short |
| KuCoin ARMUSDTM | +0.0345% | 8h | 326.54 | +0.009% | $2.3M | $119K | 20x | as long as short |
Deribit ARM_USDC-PERPETUAL
HTX ARM-USDT
QFEX ARM-USD
Lighter ARM
Vest ARM-USD-PERP
tradeXYZ xyz:ARM
Polymarket Perps ARM-USD
Ondo Perps ARM-USD.P
Gate ARM_USDT
Coinbase International ARM-PERP-INTX
Injective ARM/USDC PERP
edgeX ARMUSDC
KuCoin ARMUSDTM