Funding you earn now, next payment 23:00 UTC−0.0408%/8h= −44.7% APRpaid last 24h −0.085%
Price spread now: MEXC against Phoenix+0.044%47s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.277%−$28 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. MEXC is 0.044% dearer against Phoenix than usual: you sell high and buy low (spread +0.044% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 7 days (−0.277% in total) that is about 27 hours. The two prices were read 47 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 -0.277% in total (about -14.4% 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 | 0.2039 | 0.0508 | pay 0.0063% / 1h | 4m 46s | $36K | $45K | 5x |
| Short | MEXC FET_USDT | 0.2040 | 0.0100 | get 0.0100% / 8h | 4m 46s | $34.4M | $25.1M | 200x |
Phoenix FET
MEXC FET_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- −$85.64
- Price spread: +0.044% → 0.000%
- $4.41
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$88.23
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; MEXC: 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 MEXC live order book, 4 min ago | 2.44 bp | 2.4 bp −$2 | 8.2 bp −$82 | 53.6 bp −$5,363 | 196.1 bp −$98.0K |
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 | −0.2196% | 1h | 0.2039 | −0.005% | $29K | $201K | 10x | as long as short |
| Coinbase International FET-PERP-INTX | −0.0728% | 1h | 0.2043 | +0.191% | $152K | $207K | 50x | as long as short |
| Kraken Futures PF_FETUSD | −0.0478% | 1h | 0.2041 | +0.089% | $996K | $2.2M | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0013% | 1h | 0.2038 | −0.071% | $32K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | −1.427% | $3K | $166K | 12x | as long as short |
| Gate FET_USDT | +0.0057% | 8h | 0.2039 | −0.005% | $2.8M | $12.2M | 50x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2042 | +0.141% | $339K | $544K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2042 | +0.124% | $31.9M | $109.3M | 75x | as long as short |
| MEXC FET_USDTshort | +0.0100% | 8h | 0.2040 | +0.044% | $34.4M | $25.1M | 200x | |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2038 | −0.054% | $10.8M | $19.2M | 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
Binance FETUSDT
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 | 0.2033 | −0.288% | $358K | $399K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2037 | −0.103% | $38K | $6K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2041 | +0.073% | $33K | $191K | 10x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2037 | −0.113% | $14K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2036 | −0.152% | $1.7M | $2.7M | 100x | as long as short |
| BingX FET-USDT | +0.0287% | 8h | 0.2041 | +0.093% | — | $5.7M | — | as long as short |
| OKX FET-USDT-SWAP | +0.0290% | 4h | 0.2046 | +0.338% | $997K | $7.9M | 20x | as long as short |
| Bitget FETUSDT | +0.0299% | 8h | 0.2043 | +0.191% | $16.5M | $11.5M | 75x | as long as short |
| Hyperliquid FET | +0.0414% | 1h | 0.2044 | +0.245% | $9.0M | $8.0M | 5x | as long as short |
| Phoenix FETlong | +0.0508% | 1h | 0.2039 | long leg | $36K | $45K | 5x |
Variational Omni FET
Orderly PERP_FET_USDC
Extended FET-USD
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
BingX FET-USDT
OKX FET-USDT-SWAP
Bitget FETUSDT
Hyperliquid FET