Funding you earn now, next payment 08:00 UTC−0.0113%/8h= −12.4% APRnext payment −$0.14 per $10,000 · paid last 24h −0.044%
Price spread now: Ondo Perps against Phoenix−0.236%7-day average −0.085% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.195%−$20 on $10k
+Price spread, last 4 days (all we have)+0.262%+$26 · spread now −0.236%, 7d avg −0.085%
=Together, before fees+0.067%+ Points / potential airdropOndo Perps: Active · farm board+$7 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Ondo Perps is 0.151% cheaper against Phoenix than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.085%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix COIN | 194.74 | 0.0164 | pay 0.0020% / 1h | 27m 15s | $4K | $283K | 10x |
| Short | Ondo Perps COIN-USD.P | 194.28 | 0.0050 | get 0.0006% / 1h | 27m 15s | $423K | $2.5M | 10x |
Phoenix COIN
Ondo Perps COIN-USD.PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Ondo Perps 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
- −$23.79
- Price spread: −0.236% → −0.085%
- −$15.12
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Net
- −$50.91
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 65 min ago; Ondo Perps: no order-book sample. 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 Phoenix live order book, 65 min ago | 3.58 bp | 11.6 bp −$12 | 24.5 bp −$245 | doesn't fit | doesn't fit |
| Sell Ondo Perps no order-book sample | — | — | — | — | — |
Ondo Perps: 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective COIN/USDC PERP | −0.0440% | 1h | 194.86 | +0.062% | $17K | $53K | 30x | as long as short |
| Vest COIN-USD-PERP | −0.0067% | 1h | 193.97 | −0.395% | — | $319K | 25x | as long as short |
| Bitget COINUSDT | −0.0063% | 8h | 194.54 | −0.103% | $6.3M | $10.2M | 20x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 194.50 | −0.122% | $339K | $879K | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 194.50 | −0.123% | $4.6M | $6.0M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 194.52 | −0.113% | $3.0M | $4.6M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 194.51 | −0.118% | $1.2M | $6.8M | 50x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 194.80 | +0.032% | $657K | $981K | — | as long as short |
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 194.84 | +0.051% | $17K | $3.0M | 10x | as long as short |
| Extended COIN_24_5-USD | +0.0016% | 1h | 194.46 | −0.142% | $103K | $860K | 10x | as long as short |
Injective COIN/USDC PERP
Vest COIN-USD-PERP
Bitget COINUSDT
Aster COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
Gate COIN_USDT
Variational Omni COIN
GRVT COIN_USDT_Perp
Extended COIN_24_5-USDShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance COINUSDT | +0.0020% | 8h | 194.53 | −0.109% | $14.7M | $81.6M | 20x | as long as short |
| Lighter COIN | +0.0032% | 1h | 194.42 | −0.166% | $358K | $2.0M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 194.42 | −0.164% | $468K | $1.3M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 194.68 | −0.031% | $17K | $52K | 5x | as long as short |
| edgeX COINUSDC | +0.0045% | 4h | 194.82 | +0.041% | $50K | $296K | 10x | as long as short |
| QFEX COIN-USD | +0.0047% | 1h | 194.50 | −0.123% | $1.3M | $2.8M | 10x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 194.26 | −0.246% | $15.0M | $12.7M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 194.32 | −0.216% | $134K | $1.4M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 194.46 | −0.144% | $81 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.Pshort | +0.0050% | 1h | 194.28 | −0.236% | $423K | $2.5M | 10x | |
| BloFin COIN-USDT | +0.0079% | 8h | 194.45 | −0.149% | $187K | $481K | 20x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 194.43 | −0.159% | $979K | $193K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 194.72 | −0.010% | $88K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 194.50 | −0.123% | $562 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 194.48 | −0.131% | $115 | — | 10x | as long as short |
| Phoenix COINlong | +0.0164% | 1h | 194.74 | long leg | $4K | $283K | 10x |
Binance COINUSDT
Lighter COIN
Lighter RH COIN
Arcus COIN-USD
edgeX COINUSDC
QFEX COIN-USD
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
SoDEX COIN-USD
BloFin COIN-USDT
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP