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Funding arb · Price arb /

COIN

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0238%/8h= +26.0% APRpaid last 24h −0.023%
Price spread now: Phoenix against Gate+0.049%7-day average −0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs−$45as in the Funding arb table
Net, price: spread back to 7d avg − costs−$49as in the Price arb table
costs, in and out, $10k−$540.542% of the position
Long on GateShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days+0.088%+$9 on $10k
Price spread, last 3 days (all we have)−0.143%−$14 · spread now +0.049%, 7d avg −0.004%
Together, before fees−0.055%−$6 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phoenix is 0.054% dearer against Gate than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.004%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.088% in total (about 4.6% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGate COIN_USDT202.260get 0.0000% / 8h7h 57m$1.3M$6.8M50x
ShortPhoenix COIN202.360.0238get 0.0030% / 1h57m 22s$5K$279K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against Gate. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$49.92
Price spread: +0.049% → −0.004%
$5.36
Slippage, 4 orders
−$32.19
Fee Gate: 7.5 bp × 2 orders
−$15
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
$1.08
Costs to cover
0.542%
Break-even
6.8 days
Slippage from Gate: live order book, 1 min ago; Phoenix: live order book, 11 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Gate live order book, 1 min ago6.18 bp14.9 bp −$1557.4 bp −$574doesn't fitdoesn't fit
Sell Phoenix live order book, 11 min ago3.46 bp12.0 bp −$1225.7 bp −$257doesn't fitdoesn't fit

COIN on 26 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective COIN/USDC PERP−0.0440%1h202.21−0.025%$45K$48K30xas long as short
Aster COINUSDT0.0000%8h202.41+0.074%$371K$839K20xas long as short
Extended COIN_24_5-USD0.0000%1h202.21−0.023%$119K$445K10xas long as short
Binance COINUSDT0.0000%8h202.38+0.059%$15.8M$76.4M20xas long as short
Bybit COINUSDT0.0000%8h202.39+0.064%$5.1M$5.9M50xas long as short
OKX COIN-USDT-SWAP0.0000%8h202.31+0.025%$3.3M$4.7M20xas long as short
Gate COIN_USDTlong0.0000%8h202.26long leg$1.3M$6.8M50x
Bitget COINUSDT0.0000%8h202.33+0.035%$6.9M$9.7M20xas long as short
Variational Omni COIN0.0000%8h202.04−0.107%$840K$1.1M—as long as short
GRVT COIN_USDT_Perp0.0000%8h202.07−0.094%$22K$2.0M10xas long as short
Show all 26 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
QFEX COIN-USD+0.0021%1h202.20−0.030%$1.4M$4.0M10xas long as short
Arcus COIN-USD+0.0040%1h202.28+0.010%$16K$54K5xas long as short
Vest COIN-USD-PERP+0.0046%1h202.13−0.064%—$513K25xas long as short
Polymarket Perps COIN-USD+0.0050%1h202.11−0.074%$129K$1.2M10xas long as short
SoDEX COIN-USD+0.0050%1h202.24−0.010%$91$3K10xas long as short
Ondo Perps COIN-USD.P+0.0050%1h202.06−0.099%$360K$3.3M10xas long as short
KuCoin COINUSDTM+0.0100%8h202.260.000%$1.0M$138K20xas long as short
ApeX Omni COINUSDT+0.0100%1h202.00−0.129%$91K$287K50xas long as short
Orderly PERP_COIN_USDC_mythos+0.0100%8h202.31+0.025%$585$4K10xas long as short
Aevo COIN-PERP+0.0104%1h202.29+0.014%$119—10xas long as short
BloFin COIN-USDT+0.0120%8h202.36+0.049%$200K$343K20xas long as short
Phoenix COINshort+0.0238%1h202.36+0.049%$5K$279K10x
edgeX COINUSDC+0.0348%4h202.25−0.004%$52K$292K10xas long as short
tradeXYZ xyz:COIN+0.0419%1h202.23−0.015%$16.6M$13.1M10xas long as short
Lighter RH COIN+0.0640%1h202.20−0.030%$435K$1.5M10xas long as short
Lighter COIN+0.0648%1h202.22−0.022%$377K$1.8M10xas long as short