Funding you earn now, next payment 03:00 UTC+0.0001%/8h= +0.2% APRpaid last 24h +0.017%
Price spread now: Phoenix against BloFin+0.102%106s7-day average +0.020% · you sell dearer than you buy
Net, funding: paid 7d − costs−$41as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$420.422% of the position
Funding, last 7 days+0.014%+$1 on $10k
+Price spread, last 4 days (all we have)+0.025%+$2 · spread now +0.102%, 7d avg +0.020%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phoenix is 0.082% dearer against BloFin than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.020%. The two prices were read 106 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 | BloFin COIN-USDT | 196.99 | 0.0120 | pay 0.0120% / 8h | 4h 19m | $187K | $392K | 20x |
| Short | Phoenix COIN | 197.19 | 0.0121 | get 0.0015% / 1h | 19m 24s | $5K | $281K | 10x |
BloFin COIN-USDT
Phoenix COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against BloFin. 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
- $0.3
- Price spread: +0.102% → +0.020%
- $8.16
- Slippage, 4 orders
- −$23.22
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$33.77
- Costs to cover
- 0.422%
- Break-even
- 799.3 days
Slippage from BloFin: live order book, 16 min ago; Phoenix: live order book, 33 min ago.
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 BloFin live order book, 16 min ago | 0.76 bp | 9.1 bp −$9 | 14.6 bp −$146 | 34.4 bp −$3,444 | doesn't fit |
| Sell Phoenix live order book, 33 min ago | 3.55 bp | 11.7 bp −$12 | 24.9 bp −$249 | doesn't fit | doesn't fit |
COIN on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget COINUSDT | −0.0759% | 8h | 197.23 | +0.122% | $6.3M | $10.3M | 20x | as long as short |
| Injective COIN/USDC PERP | −0.0440% | 1h | 196.94 | −0.025% | $43K | $48K | 30x | as long as short |
| Gate COIN_USDT | −0.0218% | 8h | 197.12 | +0.066% | $1.2M | $7.2M | 50x | as long as short |
| Vest COIN-USD-PERP | −0.0100% | 1h | 196.56 | −0.218% | — | $271K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 197.28 | +0.148% | $345K | $885K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 197.04 | +0.024% | $118K | $694K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 197.09 | +0.051% | $14.8M | $79.3M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 197.10 | +0.056% | $4.8M | $5.9M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 197.09 | +0.051% | $3.0M | $4.6M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 196.98 | −0.006% | $680K | $935K | — | as long as short |
Bitget COINUSDT
Injective COIN/USDC PERP
Gate COIN_USDT
Vest COIN-USD-PERP
Aster COINUSDT
Extended COIN_24_5-USD
Binance COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
Variational Omni COINShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 197.22 | +0.118% | $16K | $2.2M | 10x | as long as short |
| QFEX COIN-USD | +0.0013% | 1h | 197.05 | +0.030% | $1.3M | $3.3M | 10x | as long as short |
| Lighter COIN | +0.0032% | 1h | 197.03 | +0.022% | $347K | $2.0M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 197.06 | +0.036% | $446K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 197.19 | +0.102% | $15K | $55K | 5x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 197.01 | +0.010% | $15.4M | $13.5M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 196.94 | −0.025% | $135K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 197.03 | +0.020% | $60 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 197.02 | +0.015% | $349K | $2.7M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 197.02 | +0.015% | $992K | $143K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 196.97 | −0.010% | $89K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 197.05 | +0.030% | $570 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 197.03 | +0.023% | $116 | — | 10x | as long as short |
| BloFin COIN-USDTlong | +0.0120% | 8h | 196.99 | long leg | $187K | $392K | 20x | |
| Phoenix COINshort | +0.0121% | 1h | 197.19 | +0.102% | $5K | $281K | 10x | |
| edgeX COINUSDC | +0.0473% | 4h | 197.12 | +0.066% | $51K | $295K | 10x | as long as short |
GRVT COIN_USDT_Perp
QFEX COIN-USD
Lighter COIN
Lighter RH COIN
Arcus COIN-USD
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
SoDEX COIN-USD
Ondo Perps COIN-USD.P
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
edgeX COINUSDC