Funding you earn now, next payment 03:00 UTC−0.0405%/8h= −44.4% APRpaid last 24h −0.092%
Price spread now: Orderly against Phoenix−0.188%66s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+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 −$12 a day on $10k at the current rate, and Orderly is 0.188% cheaper against Phoenix than usual: you would sell low and buy high (−$19 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix FET | 0.2017 | 0.0505 | pay 0.0063% / 1h | 3m 38s | $35K | $39K | 5x |
| Short | Orderly PERP_FET_USDC | 0.2013 | 0.0100 | get 0.0100% / 8h | 4h 03m | $38K | $7K | 10x |
Phoenix FET
Orderly PERP_FET_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$85.06
- Price spread: −0.188% → 0.000%
- −$18.84
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$116.9
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Orderly: 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Orderly no order-book sample | — | — | — | — | — |
Phoenix and Orderly: 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 | −0.4197% | 1h | 0.2015 | −0.089% | $38K | $307K | 10x | as long as short |
| Coinbase International FET-PERP-INTX | −0.0984% | 1h | 0.2015 | −0.089% | $145K | $246K | 50x | as long as short |
| Kraken Futures PF_FETUSD | −0.0456% | 1h | 0.2018 | +0.040% | $995K | $2.2M | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0011% | 1h | 0.2012 | −0.216% | $33K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | −0.337% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2014 | −0.127% | $198K | $812K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2020 | +0.159% | $31.0M | $113.2M | 75x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.2016 | −0.040% | $2.7M | $12.6M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2017 | +0.010% | $31.7M | $24.7M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2016 | −0.040% | $10.6M | $18.8M | 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
Aster FETUSDT
Binance FETUSDT
Gate FET_USDT
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 | −0.379% | $336K | $418K | — | as long as short |
| Orderly PERP_FET_USDCshort | +0.0100% | 8h | 0.2013 | −0.188% | $38K | $7K | 10x | |
| Extended FET-USD | +0.0104% | 1h | 0.2018 | +0.080% | $33K | $250K | 10x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2013 | −0.198% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2010 | −0.337% | $1.7M | $3.1M | 100x | as long as short |
| OKX FET-USDT-SWAP | +0.0249% | 4h | 0.2022 | +0.258% | $1.0M | $8.2M | 20x | as long as short |
| BingX FET-USDT | +0.0257% | 8h | 0.2019 | +0.109% | — | $5.9M | — | as long as short |
| Bitget FETUSDT | +0.0264% | 8h | 0.2021 | +0.208% | $16.4M | $11.8M | 75x | as long as short |
| Hyperliquid FET | +0.0284% | 1h | 0.2018 | +0.074% | $8.7M | $8.4M | 5x | as long as short |
| Phoenix FETlong | +0.0505% | 1h | 0.2017 | long leg | $35K | $39K | 5x |
Variational Omni FET
Extended FET-USD
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
OKX FET-USDT-SWAP
BingX FET-USDT
Bitget FETUSDT
Hyperliquid FET