Funding you earn now, next payment 21:00 UTC+0.0376%/8h= +41.1% APRpaid last 24h +0.082%
Price spread now: Phoenix against OKX−0.134%96s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.261%+$26 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 0.134% cheaper against OKX than usual: you would sell low and buy high (spread −0.134% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 29 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.261% in total) that is about 3.6 days. The two prices were read 96 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 0.261% in total (about 13.6% 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 | 0.2011 | 0.0100 | pay 0.0050% / 4h | 2h 43m | $857K | $7.5M | 20x |
| Short | Phoenix FET | 0.2008 | 0.0476 | get 0.0059% / 1h | 43m 50s | $27K | $37K | 5x |
OKX FET-USDT-SWAP
Phoenix FETFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $78.87
- Price spread: −0.134% → 0.000%
- −$13.43
- Slippage, 4 orders
- no order book: not counted
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $48.45
- Costs to cover
- 0.170%
- Break-even
- 2.7 days
Slippage unknown: OKX: 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 OKX live order book, 4 min ago | 4.97 bp | 22.2 bp −$22 | 64.2 bp −$642 | 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 | −0.3227% | 1h | 0.2006 | −0.249% | $26K | $230K | 10x | as long as short |
| Coinbase International FET-PERP-INTX | −0.0480% | 1h | 0.2006 | −0.249% | $160K | $187K | 50x | as long as short |
| Gate FET_USDT | −0.0100% | 8h | 0.2007 | −0.199% | $2.7M | $11.8M | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0012% | 1h | 0.2006 | −0.232% | $31K | — | 150x | as long as short |
| Kraken Futures PF_FETUSD | +0.0032% | 1h | 0.2009 | −0.113% | $1.0M | $2.1M | 50x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2009 | −0.088% | $346K | $527K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2010 | −0.051% | $31.4M | $107.0M | 75x | as long as short |
| OKX FET-USDT-SWAPlong | +0.0100% | 4h | 0.2011 | long leg | $857K | $7.5M | 20x | |
| MEXC FET_USDT | +0.0100% | 8h | 0.2009 | −0.099% | $35.3M | $25.3M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2009 | −0.099% | $10.4M | $19.0M | 50x | as long as short |
Deribit FET_USDC-PERPETUAL
Coinbase International FET-PERP-INTX
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 | 0.2009 | −0.124% | $273K | $315K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2004 | −0.348% | $37K | $5K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2009 | −0.084% | $32K | $144K | 10x | as long as short |
| BingX FET-USDT | +0.0111% | 8h | 0.2010 | −0.050% | — | $5.6M | — | as long as short |
| Bitget FETUSDT | +0.0123% | 8h | 0.2010 | −0.050% | $16.4M | $11.4M | 75x | as long as short |
| Hyperliquid FET | +0.0166% | 1h | 0.2009 | −0.114% | $9.0M | $7.6M | 5x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2005 | −0.309% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2003 | −0.398% | $1.7M | $2.6M | 100x | as long as short |
| Injective FET/USDC PERP | +0.0371% | 1h | 0.2030 | +0.945% | $3K | $118K | 12x | as long as short |
| Phoenix FETshort | +0.0476% | 1h | 0.2008 | −0.134% | $27K | $37K | 5x |
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