Funding you earn now, next payment 08:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h +0.059%
Price spread now: Phoenix against GRVT−0.128%7-day average −0.034% · you buy dearer than you sell
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$53as in the Price arb table
costs, in and out, $10k−$440.439% of the position
Funding, last 7 days+0.276%+$28 on $10k
+Price spread, last 4 days (all we have)−0.093%−$9 · spread now −0.128%, 7d avg −0.034%
=Together, before fees+0.182%+ Points / potential airdropGRVT: Active · farm board+$18 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phoenix is 0.093% cheaper against GRVT than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.034%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.276%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GRVT COIN_USDT_Perp | 195.90 | 0.0184 | pay 0.0184% / 8h | 7h 45m | $18K | $2.9M | 10x |
| Short | Phoenix COIN | 195.65 | 0.0164 | get 0.0020% / 1h | 45m 20s | $4K | $283K | 10x |
GRVT COIN_USDT_Perp
Phoenix COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against GRVT. 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
- −$4.27
- Price spread: −0.128% → −0.034%
- −$9.34
- Slippage, 4 orders
- −$27.9
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$57.51
- Costs to cover
- 0.439%
- Break-even
- never at this rate
Slippage from GRVT: live order book, 3 min ago; Phoenix: live order book, 47 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 GRVT live order book, 3 min ago | 1.53 bp | 9.8 bp −$10 | 28.5 bp −$285 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 47 min ago | 3.58 bp | 11.6 bp −$12 | 24.5 bp −$245 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective COIN/USDC PERP | −0.0440% | 1h | 195.19 | −0.362% | $43K | $40K | 30x | as long as short |
| Bitget COINUSDT | −0.0199% | 8h | 195.79 | −0.056% | $6.3M | $10.4M | 20x | as long as short |
| Vest COIN-USD-PERP | −0.0054% | 1h | 195.25 | −0.332% | — | $326K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 195.75 | −0.076% | $342K | $890K | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 195.67 | −0.117% | $4.7M | $6.1M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 195.73 | −0.087% | $3.0M | $4.7M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 195.70 | −0.102% | $1.2M | $6.8M | 50x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 195.75 | −0.075% | $660K | $1.0M | — | as long as short |
| Lighter COIN | +0.0032% | 1h | 195.63 | −0.138% | $360K | $2.0M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 195.64 | −0.133% | $467K | $1.3M | 10x | as long as short |
Injective COIN/USDC PERP
Bitget COINUSDT
Vest COIN-USD-PERP
Aster COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
Gate COIN_USDT
Variational Omni COIN
Lighter COIN
Lighter RH COINShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Arcus COIN-USD | +0.0040% | 1h | 195.84 | −0.031% | $17K | $57K | 5x | as long as short |
| Binance COINUSDT | +0.0046% | 8h | 195.68 | −0.112% | $14.9M | $81.7M | 20x | as long as short |
| QFEX COIN-USD | +0.0047% | 1h | 195.67 | −0.117% | $1.3M | $2.8M | 10x | as long as short |
| Extended COIN_24_5-USD | +0.0048% | 1h | 195.63 | −0.139% | $106K | $860K | 10x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 195.58 | −0.163% | $15.1M | $12.8M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 195.53 | −0.189% | $135K | $1.4M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 195.63 | −0.138% | $75 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 195.53 | −0.189% | $437K | $2.6M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 195.59 | −0.158% | $984K | $170K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 195.69 | −0.107% | $88K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 195.65 | −0.128% | $566 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 195.64 | −0.135% | $115 | — | 10x | as long as short |
| Phoenix COINshort | +0.0164% | 1h | 195.65 | −0.128% | $4K | $283K | 10x | |
| BloFin COIN-USDT | +0.0166% | 8h | 195.68 | −0.112% | $187K | $474K | 20x | as long as short |
| GRVT COIN_USDT_Perplong | +0.0184% | 8h | 195.90 | long leg | $18K | $2.9M | 10x | |
| edgeX COINUSDC | +0.0873% | 4h | 195.82 | −0.041% | $50K | $295K | 10x | as long as short |
Arcus COIN-USD
Binance COINUSDT
QFEX COIN-USD
Extended COIN_24_5-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
BloFin COIN-USDT
edgeX COINUSDC