Funding you earn now, next payment 21:00 UTC−0.0580%/8h= −63.5% APRpaid last 24h +0.033%
Price spread now: Coinbase International against OKX+0.149%55s7-day average +0.331% · you sell dearer than you buy
Net, funding: paid 7d − costs−$184as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1721.716% of the position
Funding, last 7 days−0.125%−$13 on $10k
+Price spread, last 3 days (all we have)−0.203%−$20 · spread now +0.149%, 7d avg +0.331%
=Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Coinbase International is 0.182% cheaper against OKX than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of +0.331%). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.125% in total (about -6.5% 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 | OKX FET-USDT-SWAP | 0.2014 | 0.0100 | pay 0.0050% / 4h | 2h 35m | $857K | $7.6M | 20x |
| Short | Coinbase International FET-PERP-INTX | 0.2017 | −0.0480 | pay 0.0060% / 1h | 35m 26s | $161K | $188K | 50x |
OKX FET-USDT-SWAP
Coinbase International FET-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against OKX. 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
- −$121.8
- Price spread: +0.149% → +0.331%
- −$18.24
- Slippage, 4 orders
- −$151.63
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$311.67
- Costs to cover
- 1.716%
- Break-even
- never at this rate
Slippage from OKX: live order book, 3 min ago; Coinbase International: live order book, 52 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 OKX live order book, 3 min ago | 2.48 bp | 23.3 bp −$23 | 65.9 bp −$659 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 52 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-PERPETUAL | −0.3219% | 1h | 0.2011 | −0.149% | $26K | $230K | 10x | as long as short |
| Coinbase International FET-PERP-INTXshort | −0.0480% | 1h | 0.2017 | +0.149% | $161K | $188K | 50x | |
| Gate FET_USDT | −0.0076% | 8h | 0.2011 | −0.149% | $2.7M | $11.8M | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0012% | 1h | 0.2011 | −0.160% | $32K | — | 150x | as long as short |
| Kraken Futures PF_FETUSD | +0.0032% | 1h | 0.2013 | −0.025% | $1.0M | $2.1M | 50x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2010 | −0.188% | $346K | $527K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2012 | −0.099% | $31.4M | $107.1M | 75x | as long as short |
| OKX FET-USDT-SWAPlong | +0.0100% | 4h | 0.2014 | long leg | $857K | $7.6M | 20x | |
| MEXC FET_USDT | +0.0100% | 8h | 0.2012 | −0.099% | $35.1M | $25.3M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2011 | −0.149% | $10.4M | $19.0M | 50x | as long as short |
Deribit FET_USDC-PERPETUAL
Gate FET_USDT
gTrade (Gains Network) FET/USD
Kraken Futures PF_FETUSD
Aster FETUSDT
Binance FETUSDT
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 | 0.2014 | +0.021% | $273K | $315K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2010 | −0.199% | $37K | $5K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2011 | −0.162% | $32K | $144K | 10x | as long as short |
| BingX FET-USDT | +0.0139% | 8h | 0.2011 | −0.149% | — | $5.6M | — | as long as short |
| Hyperliquid FET | +0.0146% | 1h | 0.2013 | −0.065% | $9.0M | $7.6M | 5x | as long as short |
| Bitget FETUSDT | +0.0153% | 8h | 0.2014 | 0.000% | $16.4M | $11.4M | 75x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2010 | −0.200% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2016 | +0.099% | $1.7M | $2.6M | 100x | as long as short |
| Injective FET/USDC PERP | +0.0371% | 1h | 0.2030 | +0.794% | $3K | $118K | 12x | as long as short |
| Phoenix FET | +0.0476% | 1h | 0.2015 | +0.065% | $27K | $37K | 5x | as long as short |
Variational Omni FET
Orderly PERP_FET_USDC
Extended FET-USD
BingX FET-USDT
Hyperliquid FET
Bitget FETUSDT
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
Injective FET/USDC PERP
Phoenix FET