Funding you earn now, next payment 08:00 UTC−0.0034%/8h= −3.8% APRpaid last 24h −0.023%
Price spread now: BloFin against Phoenix+0.036%7-day average −0.018% · you sell dearer than you buy
Net, funding: paid 7d − costs−$42as in the Funding arb table
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$400.400% of the position
Funding, last 7 days−0.017%−$2 on $10k
+Price spread, last 4 days (all we have)−0.350%−$35 · spread now +0.036%, 7d avg −0.018%
=The price spread pays, funding is against you. BloFin is 0.053% dearer against Phoenix than usual: you sell high and buy low (spread +0.036% now, against its 7-day average of −0.018%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.2 days. At the pace of the last 7 days (−0.017% in total) that is about 22 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix COIN | 195.00 | 0.0164 | pay 0.0020% / 1h | 33m 07s | $4K | $283K | 10x |
| Short | BloFin COIN-USDT | 195.07 | 0.0129 | get 0.0129% / 8h | 7h 33m | $187K | $473K | 20x |
Phoenix COIN
BloFin COIN-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Phoenix. 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
- −$7.22
- Price spread: +0.036% → −0.018%
- $5.34
- Slippage, 4 orders
- −$20.98
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$41.86
- Costs to cover
- 0.400%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 60 min ago; BloFin: live order book, 43 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 Phoenix live order book, 60 min ago | 3.58 bp | 11.6 bp −$12 | 24.5 bp −$245 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 43 min ago | 0.51 bp | 8.0 bp −$8 | 11.6 bp −$116 | 23.6 bp −$2,360 | 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 | 194.87 | −0.067% | $43K | $40K | 30x | as long as short |
| Bitget COINUSDT | −0.0105% | 8h | 195.06 | +0.031% | $6.3M | $10.3M | 20x | as long as short |
| Vest COIN-USD-PERP | −0.0062% | 1h | 194.63 | −0.190% | — | $324K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 195.07 | +0.036% | $340K | $879K | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 194.94 | −0.031% | $4.6M | $6.1M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 194.92 | −0.041% | $3.0M | $4.6M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 195.05 | +0.026% | $1.2M | $6.8M | 50x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 195.35 | +0.181% | $658K | $1.0M | — | as long as short |
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 195.39 | +0.200% | $19K | $3.0M | 10x | as long as short |
| Lighter COIN | +0.0032% | 1h | 194.89 | −0.056% | $359K | $2.0M | 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
GRVT COIN_USDT_Perp
Lighter COINShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH COIN | +0.0032% | 1h | 194.90 | −0.051% | $467K | $1.3M | 10x | as long as short |
| Extended COIN_24_5-USD | +0.0032% | 1h | 194.94 | −0.031% | $104K | $860K | 10x | as long as short |
| Binance COINUSDT | +0.0032% | 8h | 194.99 | −0.004% | $14.8M | $81.6M | 20x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 195.28 | +0.144% | $17K | $57K | 5x | as long as short |
| QFEX COIN-USD | +0.0047% | 1h | 195.02 | +0.010% | $1.3M | $2.8M | 10x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 194.83 | −0.087% | $15.0M | $12.7M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 194.90 | −0.051% | $134K | $1.4M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 195.06 | +0.031% | $76 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 194.92 | −0.041% | $430K | $2.5M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 194.95 | −0.026% | $982K | $186K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 195.35 | +0.179% | $88K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 194.98 | −0.010% | $564 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 195.01 | +0.005% | $115 | — | 10x | as long as short |
| BloFin COIN-USDTshort | +0.0129% | 8h | 195.07 | +0.036% | $187K | $473K | 20x | |
| Phoenix COINlong | +0.0164% | 1h | 195.00 | long leg | $4K | $283K | 10x | |
| edgeX COINUSDC | +0.0711% | 4h | 195.34 | +0.172% | $50K | $295K | 10x | as long as short |
Lighter RH COIN
Extended COIN_24_5-USD
Binance COINUSDT
Arcus COIN-USD
QFEX COIN-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
edgeX COINUSDC