Funding you earn now, next payment 04:00 UTC+0.0335%/8h= +36.6% APRpaid last 24h +0.095%
Price spread now: Phoenix against KuCoin−0.573%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+0.231%+$23 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 0.573% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.573% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$57 on $10k: about 5.7 days of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.231% in total) that is about 17 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.231% in total (about 12.0% 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 | KuCoin FETUSDTM | 0.1988 | 0.0100 | pay 0.0100% / 8h | 2h 57m | $10.4M | $18.6M | 50x |
| Short | Phoenix FET | 0.1977 | 0.0435 | get 0.0054% / 1h | 57m 15s | $34K | $37K | 5x |
KuCoin FETUSDTM
Phoenix FETFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against KuCoin. 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
- $70.25
- Price spread: −0.573% → 0.000%
- −$57.34
- Slippage, 4 orders
- no order book: not counted
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$6.09
- Costs to cover
- 0.190%
- Break-even
- 7.6 days
Slippage unknown: KuCoin: live order book, 7 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 KuCoin live order book, 7 min ago | 2.53 bp | 20.5 bp −$21 | 71.0 bp −$710 | 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 | −0.3762% | 1h | 0.1986 | −0.101% | $38K | $298K | 10x | as long as short |
| Coinbase International FET-PERP-INTX | −0.1152% | 1h | 0.1975 | −0.654% | $147K | $256K | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0004% | 1h | 0.1984 | −0.225% | $20K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | +1.107% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.1984 | −0.196% | $190K | $809K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.1988 | +0.022% | $30.2M | $114.8M | 75x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.1984 | −0.201% | $2.6M | $12.6M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.1987 | −0.050% | $29.8M | $24.9M | 200x | as long as short |
| KuCoin FETUSDTMlong | +0.0100% | 8h | 0.1988 | long leg | $10.4M | $18.6M | 50x | |
| Variational Omni FET | +0.0100% | 8h | 0.1972 | −0.797% | $271K | $479K | — | 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
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 | 0.1984 | −0.201% | $37K | $7K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.1985 | −0.128% | $33K | $201K | 10x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0301% | 1h | 0.1983 | −0.255% | $13K | — | 100x | as long as short |
| BingX FET-USDT | +0.0205% | 8h | 0.1985 | −0.151% | — | $6.0M | — | as long as short |
| Bitget FETUSDT | +0.0215% | 8h | 0.1987 | −0.050% | $16.0M | $11.9M | 75x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.1984 | −0.201% | $1.7M | $3.2M | 100x | as long as short |
| OKX FET-USDT-SWAP | +0.0370% | 4h | 0.1988 | 0.000% | $987K | $8.1M | 20x | as long as short |
| Phoenix FETshort | +0.0435% | 1h | 0.1977 | −0.573% | $34K | $37K | 5x | |
| Kraken Futures PF_FETUSD | +0.0462% | 1h | 0.1987 | −0.031% | $970K | $2.2M | 50x | as long as short |
| Hyperliquid FET | +0.1020% | 1h | 0.1987 | −0.055% | $8.5M | $8.4M | 5x | as long as short |
Orderly PERP_FET_USDC
Extended FET-USD
GMX FET/USD [ETH-USDC]
BingX FET-USDT
Bitget FETUSDT
BloFin FET-USDT
OKX FET-USDT-SWAP
Kraken Futures PF_FETUSD
Hyperliquid FET