Funding you earn now, next payment 21:00 UTC−0.0376%/8h= −41.1% APRpaid last 24h −0.082%
Price spread now: KuCoin against Phoenix−0.284%108s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.173%−$17 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 −$11 a day on $10k at the current rate, and KuCoin is 0.284% cheaper against Phoenix than usual: you would sell low and buy high (−$28 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 108 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 -0.173% in total (about -9.0% 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 | 0.2010 | 0.0476 | pay 0.0059% / 1h | 29m 38s | $27K | $37K | 5x |
| Short | KuCoin FETUSDTM | 0.2004 | 0.0100 | get 0.0100% / 8h | 2h 29m | $10.4M | $19.0M | 50x |
Phoenix FET
KuCoin FETUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$78.87
- Price spread: −0.284% → 0.000%
- −$28.36
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$126.23
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; KuCoin: live order book, 4 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 KuCoin live order book, 4 min ago | 4.99 bp | 29.4 bp −$29 | 64.0 bp −$640 | doesn't fit | 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 | −0.3231% | 1h | 0.2004 | −0.284% | $26K | $230K | 10x | as long as short |
| Coinbase International FET-PERP-INTX | −0.0480% | 1h | 0.2017 | +0.363% | $161K | $188K | 50x | as long as short |
| Gate FET_USDT | −0.0059% | 8h | 0.2003 | −0.333% | $2.7M | $11.8M | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0012% | 1h | 0.2004 | −0.294% | $31K | — | 150x | as long as short |
| Kraken Futures PF_FETUSD | +0.0032% | 1h | 0.2008 | −0.091% | $1.0M | $2.1M | 50x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2006 | −0.203% | $345K | $527K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2005 | −0.210% | $31.3M | $107.1M | 75x | as long as short |
| OKX FET-USDT-SWAP | +0.0100% | 4h | 0.2008 | −0.085% | $854K | $7.5M | 20x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2006 | −0.184% | $34.9M | $25.3M | 200x | as long as short |
| KuCoin FETUSDTMshort | +0.0100% | 8h | 0.2004 | −0.284% | $10.4M | $19.0M | 50x |
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
OKX FET-USDT-SWAP
MEXC FET_USDTShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni FET | +0.0100% | 8h | 0.2005 | −0.213% | $271K | $315K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2003 | −0.333% | $37K | $5K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2005 | −0.250% | $32K | $144K | 10x | as long as short |
| BingX FET-USDT | +0.0155% | 8h | 0.2005 | −0.234% | — | $5.6M | — | as long as short |
| Hyperliquid FET | +0.0167% | 1h | 0.2006 | −0.184% | $9.0M | $7.6M | 5x | as long as short |
| Bitget FETUSDT | +0.0169% | 8h | 0.2008 | −0.085% | $16.4M | $11.4M | 75x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2002 | −0.359% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2004 | −0.284% | $1.7M | $2.6M | 100x | as long as short |
| Injective FET/USDC PERP | +0.0371% | 1h | 0.2030 | +1.010% | $3K | $118K | 12x | as long as short |
| Phoenix FETlong | +0.0476% | 1h | 0.2010 | long leg | $27K | $37K | 5x |
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