Funding you earn now, next payment 00:00 UTC−0.0367%/8h= −40.2% APRpaid last 24h −0.086%
Price spread now: Variational Omni against Phoenix−0.439%69s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Variational Omni is 0.439% cheaper against Phoenix than usual: you would sell low and buy high (−$44 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 69 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 | 0.2060 | 0.0467 | pay 0.0058% / 1h | 20m 14s | $36K | $45K | 5x |
| Short | Variational Omni FET | 0.2051 | 0.0100 | get 0.0100% / 8h | 7h 20m | $361K | $399K | — |
Phoenix FET
Variational Omni FETFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$77.15
- Price spread: −0.439% → 0.000%
- −$43.87
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$128.02
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Variational Omni: RFQ quote, 54 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 Variational Omni RFQ quote, 54 min ago | 7.32 bp | doesn't fit | 36.6 bp −$366 | 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 | −0.4117% | 1h | 0.2052 | −0.398% | $29K | $223K | 10x | as long as short |
| Kraken Futures PF_FETUSD | −0.1260% | 1h | 0.2054 | −0.278% | $999K | $2.2M | 50x | as long as short |
| Coinbase International FET-PERP-INTX | −0.0704% | 1h | 0.2051 | −0.447% | $151K | $214K | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0022% | 1h | 0.2053 | −0.371% | $21K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | −2.437% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2051 | −0.439% | $340K | $544K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2051 | −0.432% | $32.1M | $110.7M | 75x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.2050 | −0.495% | $2.9M | $12.3M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2050 | −0.495% | $34.9M | $25.0M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2052 | −0.398% | $10.9M | $19.2M | 50x | as long as short |
Deribit FET_USDC-PERPETUAL
Kraken Futures PF_FETUSD
Coinbase International FET-PERP-INTX
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 FETshort | +0.0100% | 8h | 0.2051 | −0.439% | $361K | $399K | — | |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2052 | −0.398% | $38K | $6K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2051 | −0.435% | $34K | $248K | 10x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2052 | −0.416% | $14K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2051 | −0.447% | $1.7M | $2.7M | 100x | as long as short |
| BingX FET-USDT | +0.0295% | 8h | 0.2052 | −0.398% | — | $5.7M | — | as long as short |
| OKX FET-USDT-SWAP | +0.0303% | 4h | 0.2053 | −0.349% | $1.0M | $8.2M | 20x | as long as short |
| Bitget FETUSDT | +0.0305% | 8h | 0.2053 | −0.349% | $16.5M | $11.6M | 75x | as long as short |
| Hyperliquid FET | +0.0448% | 1h | 0.2054 | −0.277% | $9.2M | $8.3M | 5x | as long as short |
| Phoenix FETlong | +0.0467% | 1h | 0.2060 | long leg | $36K | $45K | 5x |
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