Funding you earn now, next payment 06:00 UTC+0.0553%/8h= +60.5% APRpaid last 24h +0.110%
Price spread now: edgeX against Phoenix+0.125%7-day average −0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs−$7as in the Funding arb table
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$430.427% of the position
Funding, last 7 days+0.358%+$36 on $10k
+Price spread, last 4 days (all we have)−0.049%−$5 · spread now +0.125%, 7d avg −0.012%
=Together, before fees+0.309%+ Points / potential airdropedgeX: Active · farm board+$31 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and edgeX is 0.138% dearer against Phoenix than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.012%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.358% in total (about 18.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix COIN | 195.85 | 0.0163 | pay 0.0020% / 1h | 3m 24s | $4K | $283K | 10x |
| Short | edgeX COINUSDC | 196.10 | 0.0716 | get 0.0358% / 4h | 1h 03m | $50K | $295K | 10x |
Phoenix COIN
edgeX COINUSDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
edgeX 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
- $116.11
- Price spread: +0.125% → −0.012%
- $13.76
- Slippage, 4 orders
- −$26.74
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Net
- $87.13
- Costs to cover
- 0.427%
- Break-even
- 1.7 days
Slippage from Phoenix: live order book, 34 min ago; edgeX: live order book, 39 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, 34 min ago | 3.07 bp | 10.8 bp −$11 | 22.3 bp −$223 | doesn't fit | doesn't fit |
| Sell edgeX live order book, 39 min ago | 5.63 bp | 10.4 bp −$10 | 16.2 bp −$162 | 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 | −0.0535% | 8h | 196.05 | +0.102% | $6.4M | $10.6M | 20x | as long as short |
| Injective COIN/USDC PERP | −0.0440% | 1h | 196.04 | +0.097% | $43K | $48K | 30x | as long as short |
| Vest COIN-USD-PERP | −0.0078% | 1h | 195.40 | −0.230% | — | $326K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 195.78 | −0.037% | $342K | $890K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 195.84 | −0.003% | $109K | $793K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 195.89 | +0.020% | $15.1M | $82.2M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 195.87 | +0.010% | $4.7M | $6.2M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 195.91 | +0.031% | $3.0M | $4.7M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 195.92 | +0.036% | $1.2M | $7.4M | 50x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 196.20 | +0.179% | $713K | $975K | — | as long as short |
Bitget COINUSDT
Injective COIN/USDC PERP
Vest COIN-USD-PERP
Aster COINUSDT
Extended COIN_24_5-USD
Binance COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
Gate COIN_USDT
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 | 196.12 | +0.135% | $12K | $2.8M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 195.84 | −0.005% | $462K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 196.23 | +0.194% | $15K | $54K | 5x | as long as short |
| QFEX COIN-USD | +0.0045% | 1h | 195.83 | −0.010% | $1.3M | $2.9M | 10x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 195.80 | −0.026% | $15.2M | $13.2M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 195.78 | −0.036% | $130K | $1.4M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 195.84 | −0.005% | $92 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 195.68 | −0.087% | $444K | $2.8M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 195.74 | −0.056% | $986K | $136K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 195.93 | +0.041% | $88K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 195.83 | −0.010% | $566 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 195.85 | +0.002% | $116 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 196.04 | +0.097% | $187K | $428K | 20x | as long as short |
| Lighter COIN | +0.0136% | 1h | 195.83 | −0.011% | $364K | $2.3M | 10x | as long as short |
| Phoenix COINlong | +0.0163% | 1h | 195.85 | long leg | $4K | $283K | 10x | |
| edgeX COINUSDCshort | +0.0716% | 4h | 196.10 | +0.125% | $50K | $295K | 10x |
GRVT COIN_USDT_Perp
Lighter RH COIN
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
BloFin COIN-USDT
Lighter COIN