Funding you earn now, next payment 02:00 UTC−0.0146%/8h= −16.0% APRnext payment −$0.18 per $10,000 · paid last 24h −0.058%
Price spread now: QFEX against Phoenix+0.096%52s7-day average −0.024% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$430.429% of the position
Funding, last 4 days (all we have)−0.064%−$6 on $10k
+Price spread, last 4 days (all we have)+0.035%+$4 · spread now +0.096%, 7d avg −0.024%
=The price spread pays, funding is against you. QFEX is 0.120% dearer against Phoenix than usual: you sell high and buy low (spread +0.096% now, against its 7-day average of −0.024%): +$12 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.7 days. At the pace of the last 4 days (−0.064% in total) that is about 6.6 days. The two prices were read 52 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 | 197.99 | 0.0162 | pay 0.0020% / 1h | 10m 09s | $5K | $281K | 10x |
| Short | QFEX COIN-USD | 198.18 | 0.0016 | get 0.0002% / 1h | 10m 09s | $1.3M | $3.4M | 10x |
Phoenix COIN
QFEX COIN-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- −$30.76
- Price spread: +0.096% → −0.024%
- $11.96
- Slippage, 4 orders
- −$25.89
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$61.68
- Costs to cover
- 0.429%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 48 min ago; QFEX: 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, 48 min ago | 4.56 bp | 13.9 bp −$14 | 30.5 bp −$305 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 3 min ago | 2.53 bp | 7.5 bp −$8 | 8.9 bp −$89 | 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 | −0.0646% | 8h | 198.29 | +0.152% | $6.3M | $10.2M | 20x | as long as short |
| Injective COIN/USDC PERP | −0.0440% | 1h | 197.89 | −0.051% | $44K | $48K | 30x | as long as short |
| Gate COIN_USDT | −0.0181% | 8h | 198.28 | +0.146% | $1.2M | $7.1M | 50x | as long as short |
| Vest COIN-USD-PERP | −0.0086% | 1h | 197.66 | −0.167% | — | $284K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 198.31 | +0.160% | $350K | $876K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 198.19 | +0.100% | $117K | $696K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 198.21 | +0.111% | $15.1M | $78.7M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 198.15 | +0.081% | $4.9M | $5.9M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 198.28 | +0.146% | $3.1M | $4.7M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 198.17 | +0.089% | $686K | $1.0M | — | 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 | 198.00 | +0.005% | $16K | $2.1M | 10x | as long as short |
| QFEX COIN-USDshort | +0.0016% | 1h | 198.18 | +0.096% | $1.3M | $3.4M | 10x | |
| Lighter COIN | +0.0032% | 1h | 198.16 | +0.086% | $358K | $2.0M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 198.16 | +0.086% | $456K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 198.15 | +0.081% | $15K | $55K | 5x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 198.10 | +0.056% | $15.6M | $13.5M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 198.11 | +0.061% | $126K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 198.18 | +0.096% | $77 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 197.79 | −0.101% | $352K | $2.9M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 198.11 | +0.061% | $997K | $143K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 197.94 | −0.025% | $89K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 198.19 | +0.101% | $573 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 198.12 | +0.068% | $117 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 198.22 | +0.116% | $189K | $393K | 20x | as long as short |
| Phoenix COINlong | +0.0162% | 1h | 197.99 | long leg | $5K | $281K | 10x | |
| edgeX COINUSDC | +0.0420% | 4h | 197.93 | −0.029% | $51K | $293K | 10x | as long as short |
GRVT COIN_USDT_Perp
Lighter COIN
Lighter RH COIN
Arcus 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
edgeX COINUSDC