Funding you earn now, next payment 00:00 UTC+0.0187%/8h= +20.5% APRnext payment +$0.23 per $10,000 · paid last 24h +0.054%
Price spread now: Phoenix against Ondo Perps+0.442%7-day average +0.080% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.188%+$19 on $10k
+Price spread, last 3 days (all we have)−0.427%−$43 · spread now +0.442%, 7d avg +0.080%
=Together, before fees−0.239%+ Points / potential airdropOndo Perps: Active · farm board−$24 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.362% dearer against Ondo Perps than usual: you sell high and buy low: +$36 more if the spread goes back to its 7-day average of +0.080%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps COIN-USD.P | 201.47 | 0.0050 | pay 0.0006% / 1h | 53m 07s | $361K | $3.3M | 10x |
| Short | Phoenix COIN | 202.36 | 0.0237 | get 0.0030% / 1h | 53m 07s | $5K | $279K | 10x |
Ondo Perps COIN-USD.P
Phoenix COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Ondo Perps. 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
- $39.26
- Price spread: +0.442% → +0.080%
- $36.16
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $63.42
- Costs to cover
- 0.120%
- Break-even
- from the start
Slippage unknown: Ondo Perps: no order-book sample; Phoenix: live order book, 15 min ago. Net counts fees only.
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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 15 min ago | 3.46 bp | 12.0 bp −$12 | 25.7 bp −$257 | doesn't fit | doesn't fit |
Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 201.62 | +0.074% | $44K | $48K | 30x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 201.88 | +0.204% | $370K | $839K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 201.72 | +0.122% | $119K | $445K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 201.69 | +0.109% | $15.8M | $76.2M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 201.70 | +0.114% | $5.0M | $5.9M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 201.79 | +0.159% | $3.3M | $4.6M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 201.73 | +0.129% | $1.3M | $6.8M | 50x | as long as short |
| Bitget COINUSDT | 0.0000% | 8h | 201.78 | +0.154% | $6.9M | $9.7M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 202.35 | +0.436% | $842K | $1.1M | — | as long as short |
| QFEX COIN-USD | +0.0021% | 1h | 201.75 | +0.139% | $1.4M | $3.9M | 10x | as long as short |
Injective COIN/USDC PERP
Aster COINUSDT
Extended COIN_24_5-USD
Binance COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
Gate COIN_USDT
Bitget COINUSDT
Variational Omni COIN
QFEX COIN-USDShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH COIN | +0.0040% | 1h | 201.63 | +0.079% | $434K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 202.06 | +0.293% | $16K | $53K | 5x | as long as short |
| Vest COIN-USD-PERP | +0.0046% | 1h | 201.67 | +0.099% | — | $513K | 25x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 201.62 | +0.074% | $129K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 201.69 | +0.109% | $96 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.Plong | +0.0050% | 1h | 201.47 | long leg | $361K | $3.3M | 10x | |
| tradeXYZ xyz:COIN | +0.0060% | 1h | 201.68 | +0.104% | $16.6M | $12.4M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 201.76 | +0.144% | $1.0M | $137K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 202.26 | +0.392% | $91K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 201.70 | +0.114% | $583 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 201.87 | +0.197% | $119 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 201.67 | +0.099% | $199K | $341K | 20x | as long as short |
| Phoenix COINshort | +0.0237% | 1h | 202.36 | +0.442% | $5K | $279K | 10x | |
| Lighter COIN | +0.0240% | 1h | 201.65 | +0.089% | $376K | $1.8M | 10x | as long as short |
| edgeX COINUSDC | +0.0296% | 4h | 202.22 | +0.374% | $52K | $293K | 10x | as long as short |
| GRVT COIN_USDT_Perp | +0.0439% | 8h | 202.28 | +0.401% | $12K | $2.0M | 10x | as long as short |
Lighter RH COIN
Arcus COIN-USD
Vest COIN-USD-PERP
Polymarket Perps COIN-USD
SoDEX COIN-USD
tradeXYZ xyz:COIN
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
BloFin COIN-USDT
Lighter COIN
edgeX COINUSDC
GRVT COIN_USDT_Perp