Funding you earn now, next payment 22:00 UTC−0.0499%/8h= −54.7% APRpaid last 24h −0.083%
Price spread now: Binance against Phoenix+0.461%55s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.268%−$27 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Binance is 0.461% dearer against Phoenix than usual: you sell high and buy low (spread +0.461% now, against zero (this spread has no 7-day history yet)): +$46 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 3.1 days. At the pace of the last 7 days (−0.268% in total) that is about 12 days. 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 -0.268% in total (about -14.0% 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 | Phoenix FET | 0.2042 | 0.0599 | pay 0.0075% / 1h | 58m 28s | $36K | $36K | 5x |
| Short | Binance FETUSDT | 0.2052 | 0.0100 | get 0.0100% / 8h | 58m 28s | $32.1M | $108.0M | 75x |
Phoenix FET
Binance FETUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phoenix. 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
- −$104.82
- Price spread: +0.461% → 0.000%
- $46.12
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$75.7
- Costs to cover
- 0.170%
- Break-even
- from the start
Slippage unknown: Phoenix: no order-book sample; Binance: live order book, 14 min ago. 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 14 min ago | 2.47 bp | 11.1 bp −$11 | 22.8 bp −$228 | 117.0 bp −$11.7K | doesn't fit |
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 | −0.3161% | 1h | 0.2045 | +0.142% | $28K | $200K | 10x | as long as short |
| Coinbase International FET-PERP-INTX | −0.0728% | 1h | 0.2046 | +0.191% | $153K | $205K | 50x | as long as short |
| Kraken Futures PF_FETUSD | −0.0476% | 1h | 0.2049 | +0.338% | $1.0M | $2.2M | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0012% | 1h | 0.2046 | +0.174% | $32K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | −1.572% | $3K | $166K | 12x | as long as short |
| Gate FET_USDT | +0.0073% | 8h | 0.2050 | +0.387% | $2.8M | $12.0M | 50x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2050 | +0.388% | $342K | $540K | 10x | as long as short |
| Binance FETUSDTshort | +0.0100% | 8h | 0.2052 | +0.461% | $32.1M | $108.0M | 75x | |
| MEXC FET_USDT | +0.0100% | 8h | 0.2050 | +0.387% | $35.0M | $24.6M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2048 | +0.289% | $10.6M | $19.1M | 50x | as long as short |
Deribit FET_USDC-PERPETUAL
Coinbase International FET-PERP-INTX
Kraken Futures PF_FETUSD
gTrade (Gains Network) FET/USD
Injective FET/USDC PERP
Gate FET_USDT
Aster 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 | 0.2038 | −0.190% | $288K | $327K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2044 | +0.093% | $38K | $5K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2050 | +0.398% | $34K | $190K | 10x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2045 | +0.127% | $14K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2048 | +0.289% | $1.7M | $2.7M | 100x | as long as short |
| OKX FET-USDT-SWAP | +0.0270% | 4h | 0.2055 | +0.632% | $997K | $7.8M | 20x | as long as short |
| BingX FET-USDT | +0.0317% | 8h | 0.2053 | +0.534% | — | $5.6M | — | as long as short |
| Bitget FETUSDT | +0.0335% | 8h | 0.2053 | +0.534% | $16.6M | $11.5M | 75x | as long as short |
| Phoenix FETlong | +0.0599% | 1h | 0.2042 | long leg | $36K | $36K | 5x | |
| Hyperliquid FET | +0.1128% | 1h | 0.2054 | +0.593% | $9.1M | $8.0M | 5x | as long as short |
Variational Omni FET
Orderly PERP_FET_USDC
Extended FET-USD
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
OKX FET-USDT-SWAP
BingX FET-USDT
Bitget FETUSDT
Hyperliquid FET