Funding you earn now, next payment 05:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h −0.044%
Price spread now: Polymarket Perps against Phoenix−0.046%59s7-day average −0.029% · you buy dearer than you sell
Net, funding: paid 7d − costs−$53as 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−$370.372% of the position
Funding, last 7 days−0.155%−$16 on $10k
+Price spread, last 4 days (all we have)+0.071%+$7 · spread now −0.046%, 7d avg −0.029%
=The price spread sits at its 7-day average of −0.029%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 59 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 | 195.82 | 0.0082 | pay 0.0010% / 1h | 34m 13s | $4K | $283K | 10x |
| Short | Polymarket Perps COIN-USD | 195.73 | 0.0050 | get 0.0006% / 1h | 34m 13s | $133K | $1.3M | 10x |
Phoenix COIN
Polymarket Perps COIN-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket 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
- −$6.63
- Price spread: −0.046% → −0.029%
- −$1.71
- Slippage, 4 orders
- −$22.18
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$45.53
- Costs to cover
- 0.372%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 8 min ago; Polymarket Perps: live order book, 4 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, 8 min ago | 3.57 bp | 12.0 bp −$12 | 26.0 bp −$260 | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 4 min ago | 1.79 bp | 7.2 bp −$7 | 7.5 bp −$75 | 9.4 bp −$942 | 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 | −0.0764% | 8h | 195.95 | +0.066% | $6.3M | $10.6M | 20x | as long as short |
| Injective COIN/USDC PERP | −0.0440% | 1h | 195.87 | +0.026% | $43K | $48K | 30x | as long as short |
| Gate COIN_USDT | −0.0166% | 8h | 195.71 | −0.056% | $1.2M | $7.3M | 50x | as long as short |
| Vest COIN-USD-PERP | −0.0114% | 1h | 195.32 | −0.255% | — | $289K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 195.73 | −0.049% | $341K | $890K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 195.63 | −0.098% | $114K | $852K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 195.63 | −0.095% | $14.6M | $81.1M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 195.67 | −0.077% | $4.7M | $6.2M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 195.75 | −0.036% | $3.0M | $4.7M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 195.92 | +0.053% | $711K | $962K | — | as long as short |
Bitget COINUSDT
Injective COIN/USDC PERP
Gate COIN_USDT
Vest COIN-USD-PERP
Aster COINUSDT
Extended COIN_24_5-USD
Binance COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
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 | 195.96 | +0.071% | $23K | $2.5M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 195.63 | −0.097% | $456K | $1.5M | 10x | as long as short |
| QFEX COIN-USD | +0.0038% | 1h | 195.85 | +0.015% | $1.3M | $3.1M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 195.97 | +0.077% | $15K | $55K | 5x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 195.64 | −0.092% | $15.1M | $13.7M | 10x | as long as short |
| Polymarket Perps COIN-USDshort | +0.0050% | 1h | 195.73 | −0.046% | $133K | $1.3M | 10x | |
| SoDEX COIN-USD | +0.0050% | 1h | 195.74 | −0.041% | $73 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 195.88 | +0.031% | $386K | $2.8M | 10x | as long as short |
| Phoenix COINlong | +0.0082% | 1h | 195.82 | long leg | $4K | $283K | 10x | |
| KuCoin COINUSDTM | +0.0100% | 8h | 195.65 | −0.087% | $986K | $143K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 195.87 | +0.026% | $88K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 195.69 | −0.066% | $566 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 195.72 | −0.051% | $115 | — | 10x | as long as short |
| Lighter COIN | +0.0120% | 1h | 195.68 | −0.073% | $377K | $2.1M | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 196.02 | +0.102% | $188K | $409K | 20x | as long as short |
| edgeX COINUSDC | +0.0717% | 4h | 195.84 | +0.010% | $51K | $295K | 10x | as long as short |
GRVT COIN_USDT_Perp
Lighter RH COIN
QFEX COIN-USD
Arcus COIN-USD
tradeXYZ xyz:COIN
SoDEX COIN-USD
Ondo Perps COIN-USD.P
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
Lighter COIN
BloFin COIN-USDT
edgeX COINUSDC