Funding you earn now, next payment 02:00 UTC+0.0569%/8h= +62.3% APRpaid last 24h +0.088%
Price spread now: Phoenix against Binance−0.321%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.282%+$28 on $10k
+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. Phoenix is 0.321% cheaper against Binance than usual: you would sell low and buy high (spread −0.321% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$32 on $10k: about 45 hours of funding at the current rate (+$17 a day). At the pace of the last 7 days (+0.282% in total) that is about 8.0 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.282% in total (about 14.7% 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 | Binance FETUSDT | 0.2030 | 0.0100 | pay 0.0100% / 8h | 5h 43m | $31.5M | $111.4M | 75x |
| Short | Phoenix FET | 0.2024 | 0.0669 | get 0.0084% / 1h | 43m 20s | $35K | $39K | 5x |
Binance FETUSDT
Phoenix FETFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $119.41
- Price spread: −0.321% → 0.000%
- −$32.14
- Slippage, 4 orders
- no order book: not counted
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $70.28
- Costs to cover
- 0.170%
- Break-even
- 2.9 days
Slippage unknown: Binance: live order book, 15 min ago; Phoenix: no order-book sample. 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 Binance live order book, 15 min ago | 2.47 bp | 11.5 bp −$12 | 20.6 bp −$206 | 177.2 bp −$17.7K | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Phoenix: 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.
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 | −0.3675% | 1h | 0.2030 | −0.001% | $30K | $230K | 10x | as long as short |
| Coinbase International FET-PERP-INTX | −0.0872% | 1h | 0.2033 | +0.147% | $149K | $221K | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0015% | 1h | 0.2027 | −0.125% | $23K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | −0.986% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2027 | −0.156% | $258K | $719K | 10x | as long as short |
| Binance FETUSDTlong | +0.0100% | 8h | 0.2030 | long leg | $31.5M | $111.4M | 75x | |
| Gate FET_USDT | +0.0100% | 8h | 0.2027 | −0.149% | $2.7M | $12.2M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2029 | −0.050% | $30.3M | $24.1M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2027 | −0.149% | $10.6M | $18.8M | 50x | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.2024 | −0.290% | $334K | $420K | — | as long as short |
Deribit FET_USDC-PERPETUAL
Coinbase International FET-PERP-INTX
gTrade (Gains Network) FET/USD
Injective FET/USDC PERP
Aster FETUSDT
Gate FET_USDT
MEXC FET_USDT
KuCoin FETUSDTM
Variational Omni FETShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2030 | −0.001% | $38K | $7K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2030 | +0.022% | $35K | $252K | 10x | as long as short |
| Kraken Futures PF_FETUSD | +0.0115% | 1h | 0.2032 | +0.115% | $988K | $2.2M | 50x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2027 | −0.133% | $14K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2026 | −0.198% | — | $2.9M | 100x | as long as short |
| OKX FET-USDT-SWAP | +0.0241% | 4h | 0.2032 | +0.097% | $1.0M | $8.1M | 20x | as long as short |
| BingX FET-USDT | +0.0381% | 8h | 0.2030 | −0.001% | — | $5.9M | — | as long as short |
| Bitget FETUSDT | +0.0406% | 8h | 0.2032 | +0.097% | $16.5M | $11.8M | 75x | as long as short |
| Phoenix FETshort | +0.0669% | 1h | 0.2024 | −0.321% | $35K | $39K | 5x | |
| Hyperliquid FET | +0.0696% | 1h | 0.2029 | −0.055% | $8.9M | $8.4M | 5x | as long as short |
Orderly PERP_FET_USDC
Extended FET-USD
Kraken Futures PF_FETUSD
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
OKX FET-USDT-SWAP
BingX FET-USDT
Bitget FETUSDT
Hyperliquid FET