Funding you earn now, next payment 05:00 UTC−0.0018%/8h= −2.0% APRpaid last 24h +0.037%
Price spread now: Phoenix against Orderly−0.107%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phoenix is 0.107% cheaper against Orderly than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_COIN_USDC_mythos | 196.51 | 0.0100 | pay 0.0100% / 8h | 2h 51m | $568 | $4K | 10x |
| Short | Phoenix COIN | 196.30 | 0.0082 | get 0.0010% / 1h | 51m 05s | $4K | $283K | 10x |
Orderly PERP_COIN_USDC_mythos
Phoenix COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Orderly. 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: −0.107% → 0.000%
- −$10.69
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$27.56
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Phoenix: live order book, 57 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 57 min ago | 3.05 bp | 10.8 bp −$11 | 22.3 bp −$223 | doesn't fit | doesn't fit |
Orderly: 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget COINUSDT | −0.0737% | 8h | 196.64 | +0.066% | $6.3M | $10.5M | 20x | as long as short |
| Injective COIN/USDC PERP | −0.0440% | 1h | 196.41 | −0.051% | $43K | $48K | 30x | as long as short |
| Gate COIN_USDT | −0.0218% | 8h | 196.60 | +0.046% | $1.2M | $7.3M | 50x | as long as short |
| Vest COIN-USD-PERP | −0.0113% | 1h | 195.82 | −0.351% | — | $281K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 196.45 | −0.029% | $343K | $890K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 196.48 | −0.016% | $117K | $854K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 196.53 | +0.011% | $14.7M | $80.6M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 196.53 | +0.010% | $4.7M | $6.1M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 196.49 | −0.010% | $3.0M | $4.7M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 196.44 | −0.035% | $690K | $943K | — | as long as short |
Bitget COINUSDT
Injective COIN/USDC PERP
Gate COIN_USDT
Vest COIN-USD-PERP
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 | 196.39 | −0.061% | $23K | $2.5M | 10x | as long as short |
| Lighter COIN | +0.0032% | 1h | 196.54 | +0.015% | $383K | $2.1M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 196.50 | −0.005% | $453K | $1.5M | 10x | as long as short |
| QFEX COIN-USD | +0.0038% | 1h | 196.44 | −0.036% | $1.3M | $3.1M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 196.48 | −0.015% | $15K | $55K | 5x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 196.37 | −0.071% | $15.3M | $13.6M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 196.36 | −0.076% | $132K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 196.53 | +0.010% | $70 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 196.26 | −0.127% | $351K | $2.7M | 10x | as long as short |
| Phoenix COINshort | +0.0082% | 1h | 196.30 | −0.107% | $4K | $283K | 10x | |
| KuCoin COINUSDTM | +0.0100% | 8h | 196.31 | −0.102% | $989K | $143K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 196.26 | −0.127% | $88K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythoslong | +0.0100% | 8h | 196.51 | long leg | $568 | $4K | 10x | |
| Aevo COIN-PERP | +0.0104% | 1h | 196.52 | +0.007% | $116 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 196.60 | +0.046% | $188K | $394K | 20x | as long as short |
| edgeX COINUSDC | +0.0194% | 4h | 196.32 | −0.097% | $51K | $295K | 10x | as long as short |
GRVT COIN_USDT_Perp
Lighter COIN
Lighter RH COIN
QFEX COIN-USD
Arcus COIN-USD
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
SoDEX COIN-USD
Ondo Perps COIN-USD.P
KuCoin COINUSDTM
ApeX Omni COINUSDT
Aevo COIN-PERP
BloFin COIN-USDT
edgeX COINUSDC