Funding you earn now, next payment 21:00 UTC−0.0197%/8h= −21.6% APRnext payment −$0.25 per $10,000 · paid last 24h −0.028%
Price spread now: Extended against Phoenix+0.038%48s7-day average −0.040% · you sell dearer than you buy
Net, funding: paid 7d − costs−$61as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$380.383% of the position
Funding, last 7 days−0.226%−$23 on $10k
+Price spread, last 3 days (all we have)+0.089%+$9 · spread now +0.038%, 7d avg −0.040%
=Together, before fees−0.137%+ Points / potential airdropExtended: Active · farm board−$14 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Extended is 0.078% dearer against Phoenix than usual: you sell high and buy low (spread +0.038% now, against its 7-day average of −0.040%): +$8 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 32 hours. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix COIN | 201.98 | 0.0197 | pay 0.0025% / 1h | 12m 30s | $5K | $281K | 10x |
| Short | Extended COIN_24_5-USD | 202.06 | 0 | get 0.0000% / 1h | 12m 30s | $120K | $446K | 10x |
Phoenix COIN
Extended COIN_24_5-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- −$41.45
- Price spread: +0.038% → −0.040%
- $7.83
- Slippage, 4 orders
- −$26.33
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$71.96
- Costs to cover
- 0.383%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 6 min ago; Extended: live order book, 10 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, 6 min ago | 2.96 bp | 10.6 bp −$11 | 22.2 bp −$222 | doesn't fit | doesn't fit |
| Sell Extended live order book, 10 min ago | 0.99 bp | 8.6 bp −$9 | 56.7 bp −$567 | 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 | 202.10 | +0.059% | $40K | $48K | 30x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 202.22 | +0.118% | $371K | $839K | 20x | as long as short |
| Extended COIN_24_5-USDshort | 0.0000% | 1h | 202.06 | +0.038% | $120K | $446K | 10x | |
| Binance COINUSDT | 0.0000% | 8h | 202.07 | +0.044% | $15.6M | $77.2M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 202.14 | +0.079% | $5.0M | $5.9M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 202.14 | +0.079% | $3.3M | $4.8M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 202.08 | +0.050% | $1.3M | $6.9M | 50x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 202.16 | +0.090% | $760K | $983K | — | as long as short |
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 202.27 | +0.143% | $18K | $2.0M | 10x | as long as short |
| Bitget COINUSDT | +0.0023% | 8h | 202.10 | +0.059% | $6.9M | $10.0M | 20x | as long as short |
Injective COIN/USDC PERP
Aster COINUSDT
Binance COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
Gate COIN_USDT
Variational Omni COIN
GRVT COIN_USDT_Perp
Bitget COINUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| QFEX COIN-USD | +0.0027% | 1h | 202.02 | +0.020% | $1.4M | $3.8M | 10x | as long as short |
| Lighter COIN | +0.0032% | 1h | 202.07 | +0.045% | $369K | $2.1M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 202.04 | +0.030% | $431K | $2.0M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 202.20 | +0.109% | $16K | $56K | 5x | as long as short |
| Vest COIN-USD-PERP | +0.0046% | 1h | 202.01 | +0.015% | — | $513K | 25x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 202.04 | +0.030% | $16.4M | $13.4M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 202.02 | +0.020% | $159K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 202.03 | +0.025% | $75 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 202.00 | +0.010% | $358K | $3.3M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 202.05 | +0.035% | $1.0M | $146K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 202.02 | +0.020% | $91K | $534K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 202.10 | +0.059% | $584 | $5K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 202.06 | +0.038% | $119 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 202.08 | +0.050% | $200K | $339K | 20x | as long as short |
| Phoenix COINlong | +0.0197% | 1h | 201.98 | long leg | $5K | $281K | 10x | |
| edgeX COINUSDC | +0.0316% | 4h | 202.04 | +0.029% | $52K | $294K | 10x | as long as short |
QFEX COIN-USD
Lighter COIN
Lighter RH COIN
Arcus COIN-USD
Vest COIN-USD-PERP
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
edgeX COINUSDC