Funding you earn now, next payment 23:00 UTC−0.0138%/8h= −15.1% APRpaid last 24h −0.023%
Price spread now: KuCoin against Phoenix+0.054%7-day average −0.017% · you sell dearer than you buy
Net, funding: paid 7d − costs−$230as in the Funding arb table
Net, price: spread back to 7d avg − costs−$215as in the Price arb table
costs, in and out, $10k−$2222.221% of the position
Funding, last 7 days−0.078%−$8 on $10k
+Price spread, last 3 days (all we have)−0.011%−$1 · spread now +0.054%, 7d avg −0.017%
=The price spread pays, funding is against you. KuCoin is 0.071% dearer against Phoenix than usual: you sell high and buy low (spread +0.054% now, against its 7-day average of −0.017%): +$7 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 41 hours. At the pace of the last 7 days (−0.078% in total) that is about 6.4 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix COIN | 201.85 | 0.0238 | pay 0.0030% / 1h | 16m 55s | $5K | $279K | 10x |
| Short | KuCoin COINUSDTM | 201.96 | 0.0100 | get 0.0100% / 8h | 16m 55s | $1.0M | $138K | 20x |
Phoenix COIN
KuCoin COINUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$28.92
- Price spread: +0.054% → −0.017%
- $7.14
- Slippage, 4 orders
- −$203.11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$243.89
- Costs to cover
- 2.221%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 56 min ago; KuCoin: live order book, 3 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, 56 min ago | 2.97 bp | 10.6 bp −$11 | 22.1 bp −$221 | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 3 min ago | 8.91 bp | 128.3 bp −$128 | doesn't fit | 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 | 201.40 | −0.223% | $44K | $49K | 30x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 201.92 | +0.036% | $370K | $839K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 201.86 | +0.007% | $119K | $446K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 201.90 | +0.024% | $15.6M | $76.6M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 201.93 | +0.040% | $5.0M | $5.9M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 201.89 | +0.020% | $3.3M | $4.7M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 201.90 | +0.025% | $1.3M | $7.0M | 50x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 201.89 | +0.021% | $840K | $1.1M | — | as long as short |
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 202.03 | +0.089% | $12K | $2.0M | 10x | as long as short |
| Bitget COINUSDT | +0.0001% | 8h | 201.99 | +0.069% | $6.9M | $10.1M | 20x | 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
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 | +0.0032% | 1h | 201.84 | −0.005% | $1.4M | $4.0M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 201.90 | +0.025% | $435K | $1.8M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 202.07 | +0.109% | $16K | $55K | 5x | as long as short |
| Vest COIN-USD-PERP | +0.0046% | 1h | 201.83 | −0.010% | — | $513K | 25x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 201.83 | −0.010% | $129K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 201.91 | +0.030% | $85 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 201.81 | −0.020% | $361K | $3.3M | 10x | as long as short |
| Lighter COIN | +0.0080% | 1h | 201.93 | +0.039% | $377K | $2.0M | 10x | as long as short |
| KuCoin COINUSDTMshort | +0.0100% | 8h | 201.96 | +0.054% | $1.0M | $138K | 20x | |
| ApeX Omni COINUSDT | +0.0100% | 1h | 201.89 | +0.020% | $91K | $310K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 201.86 | +0.005% | $584 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 201.88 | +0.014% | $119 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 201.87 | +0.010% | $200K | $342K | 20x | as long as short |
| tradeXYZ xyz:COIN | +0.0140% | 1h | 201.87 | +0.010% | $16.6M | $13.2M | 10x | as long as short |
| Phoenix COINlong | +0.0238% | 1h | 201.85 | long leg | $5K | $279K | 10x | |
| edgeX COINUSDC | +0.0427% | 4h | 201.94 | +0.043% | $52K | $294K | 10x | as long as short |
QFEX COIN-USD
Lighter RH COIN
Arcus COIN-USD
Vest COIN-USD-PERP
Polymarket Perps COIN-USD
SoDEX COIN-USD
Ondo Perps COIN-USD.P
Lighter COIN
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
BloFin COIN-USDT
tradeXYZ xyz:COIN
edgeX COINUSDC