Funding you earn now, next payment 00:00 UTC−0.0804%/8h= −88.0% APRpaid last 24h −0.006%
Price spread now: Coinbase International against Binance+0.588%7-day average +0.328% · you sell dearer than you buy
Net, funding: paid 7d − costs−$147as in the Funding arb table
Net, price: spread back to 7d avg − costs−$105as in the Price arb table
costs, in and out, $10k−$1311.313% of the position
Funding, last 7 days−0.156%−$16 on $10k
+Price spread, last 3 days (all we have)−0.561%−$56 · spread now +0.588%, 7d avg +0.328%
=The price spread pays, funding is against you. Coinbase International is 0.260% dearer against Binance than usual: you sell high and buy low (spread +0.588% now, against its 7-day average of +0.328%): +$26 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 26 hours. At the pace of the last 7 days (−0.156% in total) that is about 12 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.156% in total (about -8.1% 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 | Binance FETUSDT | 0.2042 | 0.0100 | pay 0.0100% / 8h | 7h 18m | $32.0M | $110.8M | 75x |
| Short | Coinbase International FET-PERP-INTX | 0.2054 | −0.0704 | pay 0.0088% / 1h | 18m 40s | $151K | $214K | 50x |
Binance FETUSDT
Coinbase International FET-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Binance. 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
- −$168.84
- Price spread: +0.588% → +0.328%
- $26
- Slippage, 4 orders
- −$111.34
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$274.18
- Costs to cover
- 1.313%
- Break-even
- never at this rate
Slippage from Binance: live order book, 9 min ago; Coinbase International: live order book, 54 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 Binance live order book, 9 min ago | 2.43 bp | 10.8 bp −$11 | 18.1 bp −$181 | 186.2 bp −$18.6K | doesn't fit |
| Sell Coinbase International live order book, 54 min ago | 7.34 bp | 56.3 bp −$56 | doesn't fit | doesn't fit | doesn't fit |
FET on 20 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit FET_USDC-PERPETUAL | −0.4123% | 1h | 0.2049 | +0.343% | $29K | $223K | 10x | as long as short |
| Kraken Futures PF_FETUSD | −0.1263% | 1h | 0.2049 | +0.323% | $996K | $2.2M | 50x | as long as short |
| Coinbase International FET-PERP-INTXshort | −0.0704% | 1h | 0.2054 | +0.588% | $151K | $214K | 50x | |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0022% | 1h | 0.2051 | +0.459% | $21K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | −1.567% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2044 | +0.112% | $339K | $544K | 10x | as long as short |
| Binance FETUSDTlong | +0.0100% | 8h | 0.2042 | long leg | $32.0M | $110.8M | 75x | |
| Gate FET_USDT | +0.0100% | 8h | 0.2042 | 0.000% | $2.8M | $12.3M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2042 | 0.000% | $34.7M | $25.0M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2044 | +0.098% | $10.9M | $19.2M | 50x | as long as short |
Deribit FET_USDC-PERPETUAL
Kraken Futures PF_FETUSD
gTrade (Gains Network) FET/USD
Injective FET/USDC PERP
Aster FETUSDT
Gate FET_USDT
MEXC FET_USDT
KuCoin FETUSDTMShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni FET | +0.0100% | 8h | 0.2051 | +0.449% | $361K | $399K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2049 | +0.343% | $38K | $6K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2042 | 0.000% | $34K | $248K | 10x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2050 | +0.405% | $14K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2047 | +0.245% | $1.7M | $2.7M | 100x | as long as short |
| OKX FET-USDT-SWAP | +0.0290% | 4h | 0.2046 | +0.196% | $1.0M | $8.2M | 20x | as long as short |
| BingX FET-USDT | +0.0295% | 8h | 0.2043 | +0.049% | — | $5.7M | — | as long as short |
| Bitget FETUSDT | +0.0301% | 8h | 0.2046 | +0.196% | $16.5M | $11.6M | 75x | as long as short |
| Hyperliquid FET | +0.0433% | 1h | 0.2045 | +0.157% | $9.1M | $8.3M | 5x | as long as short |
| Phoenix FET | +0.0467% | 1h | 0.2052 | +0.504% | $36K | $45K | 5x | as long as short |
Variational Omni FET
Orderly PERP_FET_USDC
Extended FET-USD
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
OKX FET-USDT-SWAP
BingX FET-USDT
Bitget FETUSDT
Hyperliquid FET
Phoenix FET