Funding you earn now, next payment 07:00 UTC−0.0348%/8h= −38.1% APRpaid last 24h −0.064%
Price spread now: BloFin against Phoenix−0.089%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−0.077%−$8 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and BloFin is 0.089% cheaper against Phoenix than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.077% in total (about -4.0% 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 | 0.2020 | 0.0597 | pay 0.0075% / 1h | 1m 49s | $35K | $37K | 5x |
| Short | BloFin FET-USDT | 0.2018 | 0.0250 | get 0.0250% / 8h | 1m 49s | $1.7M | $3.2M | 100x |
Phoenix FET
BloFin FET-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$73
- Price spread: −0.089% → 0.000%
- −$8.91
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$100.91
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; BloFin: live order book, 6 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 BloFin live order book, 6 min ago | 7.43 bp | 13.4 bp −$13 | 18.2 bp −$182 | 78.9 bp −$7,890 | 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 | −0.3203% | 1h | 0.2020 | +0.010% | $42K | $313K | 10x | as long as short |
| Coinbase International FET-PERP-INTX | −0.0792% | 1h | 0.2021 | +0.059% | $152K | $262K | 50x | as long as short |
| Kraken Futures PF_FETUSD | −0.0011% | 1h | 0.2022 | +0.118% | $1.0M | $2.1M | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0004% | 1h | 0.2019 | −0.060% | $20K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | −0.485% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2020 | −0.001% | $188K | $751K | 10x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.2018 | −0.089% | $2.7M | $12.8M | 50x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2019 | −0.040% | $10.5M | $17.8M | 50x | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.2018 | −0.078% | $276K | $524K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2019 | −0.040% | $36K | $11K | 10x | 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
Aster FETUSDT
Gate FET_USDT
KuCoin FETUSDTM
Variational Omni FET
Orderly PERP_FET_USDCShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget FETUSDT | +0.0119% | 8h | 0.2019 | −0.040% | $16.5M | $11.7M | 75x | as long as short |
| Extended FET-USD | +0.0128% | 1h | 0.2018 | −0.067% | $37K | $200K | 10x | as long as short |
| Binance FETUSDT | +0.0129% | 8h | 0.2019 | −0.049% | $30.8M | $111.7M | 75x | as long as short |
| MEXC FET_USDT | +0.0129% | 8h | 0.2017 | −0.139% | $29.9M | $25.2M | 200x | as long as short |
| BingX FET-USDT | +0.0132% | 8h | 0.2018 | −0.089% | — | $5.9M | — | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0301% | 1h | 0.2018 | −0.082% | $13K | — | 100x | as long as short |
| OKX FET-USDT-SWAP | +0.0233% | 4h | 0.2019 | −0.040% | $1.0M | $8.0M | 20x | as long as short |
| BloFin FET-USDTshort | +0.0250% | 8h | 0.2018 | −0.089% | $1.7M | $3.2M | 100x | |
| Phoenix FETlong | +0.0597% | 1h | 0.2020 | long leg | $35K | $37K | 5x | |
| Hyperliquid FET | +0.0638% | 1h | 0.2020 | −0.003% | $8.5M | $8.5M | 5x | as long as short |
Bitget FETUSDT
Extended FET-USD
Binance FETUSDT
MEXC FET_USDT
BingX FET-USDT
GMX FET/USD [ETH-USDC]
OKX FET-USDT-SWAP
Hyperliquid FET