Funding you earn now, next payment 02:00 UTC+0.0071%/8h= +7.8% APRnext payment +$0.09 per $10,000 · paid last 24h +0.010%
Price spread now: Phoenix against Hyperliquid+0.228%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.085%+$8 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phoenix is 0.228% dearer against Hyperliquid than usual: you sell high and buy low: +$23 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid FET | 0.2060 | 0.0598 | pay 0.0075% / 1h | 18m 39s | $9.0M | $8.4M | 5x |
| Short | Phoenix FET | 0.2065 | 0.0669 | get 0.0084% / 1h | 18m 39s | $36K | $39K | 5x |
Hyperliquid FET
Phoenix FETFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Hyperliquid. 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
- $14.91
- Price spread: +0.228% → 0.000%
- $22.81
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $21.72
- Costs to cover
- 0.160%
- Break-even
- from the start
Slippage unknown: Hyperliquid: live order book, 4 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 Hyperliquid live order book, 4 min ago | 1.45 bp | 10.4 bp −$10 | doesn't fit | doesn't fit | 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 | −0.3138% | 1h | 0.2059 | −0.058% | $39K | $294K | 10x | as long as short |
| Coinbase International FET-PERP-INTX | −0.0872% | 1h | 0.2060 | −0.010% | $152K | $232K | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0015% | 1h | 0.2060 | −0.011% | $23K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | −2.437% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2060 | −0.032% | $215K | $771K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2059 | −0.038% | $32.0M | $112.2M | 75x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.2059 | −0.058% | $2.8M | $12.5M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2059 | −0.058% | $30.8M | $24.3M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2060 | −0.010% | $10.8M | $18.8M | 50x | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.2063 | +0.142% | $346K | $424K | — | as long as short |
Deribit FET_USDC-PERPETUAL
Coinbase International FET-PERP-INTX
gTrade (Gains Network) FET/USD
Injective FET/USDC PERP
Aster FETUSDT
Binance 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 | 0.2059 | −0.058% | $39K | $7K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2059 | −0.065% | $34K | $252K | 10x | as long as short |
| Kraken Futures PF_FETUSD | +0.0113% | 1h | 0.2061 | +0.037% | $1.0M | $2.2M | 50x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0202% / S −0.0278% | 1h | 0.2059 | −0.039% | $14K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2061 | +0.039% | $1.7M | $3.0M | 100x | as long as short |
| OKX FET-USDT-SWAP | +0.0267% | 4h | 0.2060 | −0.010% | $1.1M | $8.3M | 20x | as long as short |
| BingX FET-USDT | +0.0393% | 8h | 0.2059 | −0.058% | — | $5.9M | — | as long as short |
| Bitget FETUSDT | +0.0403% | 8h | 0.2061 | +0.039% | $16.8M | $11.8M | 75x | as long as short |
| Hyperliquid FETlong | +0.0598% | 1h | 0.2060 | long leg | $9.0M | $8.4M | 5x | |
| Phoenix FETshort | +0.0669% | 1h | 0.2065 | +0.228% | $36K | $39K | 5x |
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