Funding you earn now, next payment 21:00 UTC+0.2742%/8h= +300.3% APRnext payment +$3.43 per $10,000 · paid last 24h +0.346%
Price spread now: Coinbase International against Deribit+0.199%7-day average +0.335% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$171as in the Price arb table
costs, in and out, $10k−$1581.577% of the position
Funding, last 6 days (all we have)+0.584%+$58 on $10k
+Price spread, last 3 days (all we have)−0.145%−$14 · spread now +0.199%, 7d avg +0.335%
=Funding pays, the price is against you. Coinbase International is 0.136% cheaper against Deribit than usual: you would sell low and buy high (spread +0.199% now, against its 7-day average of +0.335%). If the spread goes back, that is −$14 on $10k: about 4 hours of funding at the current rate (+$82 a day). At the pace of the last 6 days (+0.584% in total) that is about 31 hours.
The current funding rate is far above what this pair has been paying: over the last 6 days it paid 0.584% in total (about 38.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.43 per $10,000. 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 | Deribit FET_USDC-PERPETUAL | 0.2009 | −0.3222 | get 0.0403% / 1h | 47m 30s | $26K | $230K | 10x |
| Short | Coinbase International FET-PERP-INTX | 0.2013 | −0.0480 | pay 0.0060% / 1h | 47m 30s | $160K | $188K | 50x |
Deribit FET_USDC-PERPETUAL
Coinbase International FET-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- $575.87
- Price spread: +0.199% → +0.335%
- −$13.62
- Slippage, 4 orders
- −$140.69
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $404.55
- Costs to cover
- 1.577%
- Break-even
- 2.1 days
Slippage from Deribit: live order book, 41 min ago; Coinbase International: live order book, 40 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, 41 min ago | 7.40 bp | 10.9 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 40 min ago | 9.87 bp | 52.6 bp −$53 | 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-PERPETUALlong | −0.3222% | 1h | 0.2009 | long leg | $26K | $230K | 10x | |
| Coinbase International FET-PERP-INTXshort | −0.0480% | 1h | 0.2013 | +0.199% | $160K | $188K | 50x | |
| Gate FET_USDT | −0.0098% | 8h | 0.2007 | −0.100% | $2.7M | $11.8M | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0012% | 1h | 0.2009 | −0.003% | $32K | — | 150x | as long as short |
| Kraken Futures PF_FETUSD | +0.0032% | 1h | 0.2012 | +0.136% | $1.0M | $2.1M | 50x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2010 | +0.044% | $346K | $527K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2010 | +0.050% | $31.4M | $107.0M | 75x | as long as short |
| OKX FET-USDT-SWAP | +0.0100% | 4h | 0.2009 | 0.000% | $856K | $7.5M | 20x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2008 | −0.050% | $35.3M | $25.2M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2009 | 0.000% | $10.4M | $19.0M | 50x | as long as short |
Gate FET_USDT
gTrade (Gains Network) FET/USD
Kraken Futures PF_FETUSD
Aster FETUSDT
Binance FETUSDT
OKX FET-USDT-SWAP
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 | 0.2007 | −0.124% | $273K | $315K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2007 | −0.100% | $37K | $5K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2009 | +0.024% | $32K | $144K | 10x | as long as short |
| BingX FET-USDT | +0.0111% | 8h | 0.2009 | 0.000% | — | $5.6M | — | as long as short |
| Bitget FETUSDT | +0.0116% | 8h | 0.2013 | +0.199% | $16.4M | $11.4M | 75x | as long as short |
| Hyperliquid FET | +0.0179% | 1h | 0.2011 | +0.100% | $9.0M | $7.6M | 5x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2007 | −0.112% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2008 | −0.050% | $1.7M | $2.6M | 100x | as long as short |
| Injective FET/USDC PERP | +0.0371% | 1h | 0.2030 | +1.045% | $3K | $118K | 12x | as long as short |
| Phoenix FET | +0.0476% | 1h | 0.2012 | +0.134% | $27K | $37K | 5x | as long as short |
Variational Omni FET
Orderly PERP_FET_USDC
Extended FET-USD
BingX FET-USDT
Bitget FETUSDT
Hyperliquid FET
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
Injective FET/USDC PERP
Phoenix FET