Funding you earn now, next payment 05:00 UTC−0.0018%/8h= −2.0% APRpaid last 24h +0.023%
Price spread now: Phoenix against KuCoin+0.138%108s7-day average +0.018% · you sell dearer than you buy
Net, funding: paid 7d − costs−$157as 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−$1661.656% of the position
Funding, last 7 days+0.087%+$9 on $10k
+Price spread, last 4 days (all we have)−0.181%−$18 · spread now +0.138%, 7d avg +0.018%
=The price spread pays, funding is against you. Phoenix is 0.120% dearer against KuCoin than usual: you sell high and buy low (spread +0.138% now, against its 7-day average of +0.018%): +$12 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 22 days. Mind the row above: over the last 7 days funding on this pair paid +0.087%, so the current rate has only just turned against you. The two prices were read 108 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 | KuCoin COINUSDTM | 196.11 | 0.0100 | pay 0.0100% / 8h | 2h 01m | $988K | $143K | 20x |
| Short | Phoenix COIN | 196.38 | 0.0082 | get 0.0010% / 1h | 1m 41s | $4K | $283K | 10x |
KuCoin COINUSDTM
Phoenix COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against KuCoin. 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
- −$3.87
- Price spread: +0.138% → +0.018%
- $11.97
- Slippage, 4 orders
- −$146.63
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$157.53
- Costs to cover
- 1.656%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 18 min ago; Phoenix: live order book, 41 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 KuCoin live order book, 18 min ago | 18.42 bp | 104.0 bp −$104 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 41 min ago | 3.57 bp | 12.0 bp −$12 | 26.0 bp −$260 | 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 | −0.0705% | 8h | 196.54 | +0.219% | $6.4M | $10.7M | 20x | as long as short |
| Injective COIN/USDC PERP | −0.0440% | 1h | 196.37 | +0.133% | $43K | $48K | 30x | as long as short |
| Vest COIN-USD-PERP | −0.0106% | 1h | 195.90 | −0.107% | — | $289K | 25x | as long as short |
| Gate COIN_USDT | −0.0084% | 8h | 196.40 | +0.148% | $1.2M | $7.4M | 50x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 196.27 | +0.082% | $342K | $890K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 196.33 | +0.113% | $112K | $849K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 196.39 | +0.142% | $15.1M | $82.6M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 196.38 | +0.138% | $4.7M | $6.3M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 196.33 | +0.112% | $3.0M | $4.7M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 196.58 | +0.240% | $712K | $962K | — | as long as short |
Bitget COINUSDT
Injective COIN/USDC PERP
Vest COIN-USD-PERP
Gate COIN_USDT
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 | 196.59 | +0.245% | $13K | $2.6M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 196.36 | +0.127% | $458K | $1.5M | 10x | as long as short |
| QFEX COIN-USD | +0.0038% | 1h | 196.42 | +0.158% | $1.3M | $3.0M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 196.51 | +0.204% | $15K | $54K | 5x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 196.32 | +0.107% | $15.3M | $13.9M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 196.29 | +0.092% | $128K | $1.4M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 196.36 | +0.127% | $97 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 196.28 | +0.087% | $451K | $2.9M | 10x | as long as short |
| Phoenix COINshort | +0.0082% | 1h | 196.38 | +0.138% | $4K | $283K | 10x | |
| KuCoin COINUSDTMlong | +0.0100% | 8h | 196.11 | long leg | $988K | $143K | 20x | |
| ApeX Omni COINUSDT | +0.0100% | 1h | 196.29 | +0.092% | $88K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 196.38 | +0.138% | $568 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 196.39 | +0.141% | $116 | — | 10x | as long as short |
| Lighter COIN | +0.0120% | 1h | 196.36 | +0.126% | $380K | $2.3M | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 196.43 | +0.163% | $185K | $422K | 20x | as long as short |
| edgeX COINUSDC | +0.0458% | 4h | 196.53 | +0.213% | $51K | $295K | 10x | as long as short |
GRVT COIN_USDT_Perp
Lighter RH COIN
QFEX COIN-USD
Arcus COIN-USD
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
SoDEX COIN-USD
Ondo Perps COIN-USD.P
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
Lighter COIN
BloFin COIN-USDT
edgeX COINUSDC