Funding you earn now, next payment 22:00 UTC+0.0198%/8h= +21.7% APRpaid last 24h +0.030%
Price spread now: Phoenix against OKX+0.064%7-day average +0.006% · you sell dearer than you buy
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$36as in the Price arb table
costs, in and out, $10k−$420.420% of the position
Funding, last 7 days+0.199%+$20 on $10k
+Price spread, last 3 days (all we have)−0.176%−$18 · spread now +0.064%, 7d avg +0.006%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.058% dearer against OKX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.006%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX COIN-USDT-SWAP | 201.58 | 0 | get 0.0000% / 8h | 1h 13m | $3.3M | $4.7M | 20x |
| Short | Phoenix COIN | 201.71 | 0.0198 | get 0.0025% / 1h | 13m 18s | $5K | $281K | 10x |
OKX COIN-USDT-SWAP
Phoenix COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against OKX. 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
- $41.59
- Price spread: +0.064% → +0.006%
- $5.81
- Slippage, 4 orders
- −$24.96
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $5.44
- Costs to cover
- 0.420%
- Break-even
- 6.1 days
Slippage from OKX: live order book, 4 min ago; Phoenix: live order book, 65 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 OKX live order book, 4 min ago | 1.98 bp | 9.8 bp −$10 | 19.8 bp −$198 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 65 min ago | 2.96 bp | 10.6 bp −$11 | 22.2 bp −$222 | 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 | 201.27 | −0.154% | $44K | $49K | 30x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 201.69 | +0.054% | $370K | $839K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 201.54 | −0.020% | $119K | $446K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 201.58 | 0.000% | $15.6M | $76.8M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 201.56 | −0.010% | $5.0M | $5.9M | 50x | as long as short |
| OKX COIN-USDT-SWAPlong | 0.0000% | 8h | 201.58 | long leg | $3.3M | $4.7M | 20x | |
| Gate COIN_USDT | 0.0000% | 8h | 201.56 | −0.010% | $1.3M | $7.0M | 50x | as long as short |
| Bitget COINUSDT | 0.0000% | 8h | 201.58 | 0.000% | $6.9M | $9.9M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 201.66 | +0.040% | $798K | $1.0M | — | as long as short |
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 201.69 | +0.057% | $19K | $2.0M | 10x | as long as short |
Injective COIN/USDC PERP
Aster COINUSDT
Extended COIN_24_5-USD
Binance COINUSDT
Bybit COINUSDT
Gate COIN_USDT
Bitget COINUSDT
Variational Omni COIN
GRVT COIN_USDT_PerpShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| QFEX COIN-USD | +0.0016% | 1h | 201.59 | +0.005% | $1.4M | $3.9M | 10x | as long as short |
| Lighter COIN | +0.0032% | 1h | 201.52 | −0.028% | $371K | $2.1M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 201.56 | −0.010% | $433K | $1.8M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 201.71 | +0.064% | $16K | $55K | 5x | as long as short |
| Vest COIN-USD-PERP | +0.0046% | 1h | 201.44 | −0.069% | — | $513K | 25x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 201.49 | −0.045% | $146K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 201.51 | −0.035% | $90 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 201.36 | −0.109% | $361K | $3.3M | 10x | as long as short |
| tradeXYZ xyz:COIN | +0.0093% | 1h | 201.54 | −0.020% | $16.5M | $13.3M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 201.68 | +0.050% | $1.0M | $144K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 201.58 | 0.000% | $91K | $346K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 201.62 | +0.020% | $583 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 201.55 | −0.015% | $119 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 201.55 | −0.015% | $199K | $341K | 20x | as long as short |
| Phoenix COINshort | +0.0198% | 1h | 201.71 | +0.064% | $5K | $281K | 10x | |
| edgeX COINUSDC | +0.0394% | 4h | 201.73 | +0.075% | $52K | $294K | 10x | as long as short |
QFEX COIN-USD
Lighter COIN
Lighter RH COIN
Arcus COIN-USD
Vest COIN-USD-PERP
Polymarket Perps COIN-USD
SoDEX COIN-USD
Ondo Perps COIN-USD.P
tradeXYZ xyz:COIN
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
BloFin COIN-USDT
edgeX COINUSDC