Funding you earn now, next payment 01:00 UTC−0.0505%/8h= −55.3% APRpaid last 24h −0.159%
Price spread now: Phoenix against edgeX−0.070%7-day average +0.013% · you buy dearer than you sell
Net, funding: paid 7d − costs−$85as in the Funding arb table
Net, price: spread back to 7d avg − costs−$51as in the Price arb table
costs, in and out, $10k−$430.429% of the position
Funding, last 7 days−0.417%−$42 on $10k
+Price spread, last 4 days (all we have)−0.351%−$35 · spread now −0.070%, 7d avg +0.013%
=Together, before fees−0.768%+ Points / potential airdropedgeX: Active · farm board−$77 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Phoenix is 0.082% cheaper against edgeX than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.013%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | edgeX COINUSDC | 198.00 | 0.0665 | pay 0.0333% / 4h | 2h 00m | $51K | $295K | 10x |
| Short | Phoenix COIN | 197.86 | 0.0160 | get 0.0020% / 1h | 0m 25s | $5K | $251K | 10x |
edgeX COINUSDC
Phoenix COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against edgeX. 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
- −$106.13
- Price spread: −0.070% → +0.013%
- −$8.21
- Slippage, 4 orders
- −$26.86
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$157.19
- Costs to cover
- 0.429%
- Break-even
- never at this rate
Slippage from edgeX: live order book, 2 min ago; Phoenix: live order book, 62 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 edgeX live order book, 3 min ago | 5.56 bp | 10.6 bp −$11 | 16.5 bp −$165 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 62 min ago | 2.99 bp | 10.9 bp −$11 | 22.9 bp −$229 | doesn't fit | doesn't fit |
COIN on 25 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 | −0.0654% | 8h | 197.60 | −0.201% | $6.3M | $10.2M | 20x | as long as short |
| Injective COIN/USDC PERP | −0.0440% | 1h | 197.75 | −0.125% | $44K | $48K | 30x | as long as short |
| Gate COIN_USDT | −0.0132% | 8h | 197.54 | −0.231% | $1.2M | $7.1M | 50x | as long as short |
| Vest COIN-USD-PERP | −0.0080% | 1h | 197.14 | −0.433% | — | $290K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 197.74 | −0.128% | $349K | $877K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 197.53 | −0.234% | $119K | $697K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 197.53 | −0.237% | $15.2M | $78.3M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 197.59 | −0.206% | $4.9M | $5.9M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 197.55 | −0.226% | $3.1M | $4.6M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 197.64 | −0.180% | $818K | $906K | — | 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 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 197.96 | −0.021% | $20K | $2.1M | 10x | as long as short |
| QFEX COIN-USD | +0.0028% | 1h | 197.59 | −0.206% | $1.3M | $3.6M | 10x | as long as short |
| Lighter COIN | +0.0032% | 1h | 197.54 | −0.232% | $367K | $2.0M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 197.58 | −0.211% | $449K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 197.92 | −0.039% | $16K | $53K | 5x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 197.48 | −0.261% | $15.8M | $13.3M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 197.52 | −0.241% | $125K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 197.64 | −0.181% | $90 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 197.59 | −0.206% | $354K | $3.0M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 197.55 | −0.226% | $995K | $143K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 197.84 | −0.080% | $89K | $286K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 197.54 | −0.231% | $571 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 197.49 | −0.257% | $117 | — | 10x | as long as short |
| Phoenix COINshort | +0.0160% | 1h | 197.86 | −0.070% | $5K | $251K | 10x | |
| edgeX COINUSDClong | +0.0665% | 4h | 198.00 | long leg | $51K | $295K | 10x |
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