Funding you earn now, next payment 23:00 UTC−0.0188%/8h= −20.6% APRnext payment −$0.23 per $10,000 · paid last 24h −0.042%
Price spread now: SoDEX against Phoenix−0.050%70s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and SoDEX is 0.050% cheaper against Phoenix than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 70 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 | 201.95 | 0.0238 | pay 0.0030% / 1h | 18m 09s | $5K | $279K | 10x |
| Short | SoDEX COIN-USD | 201.85 | 0.0050 | get 0.0006% / 1h | 18m 09s | $86 | $3K | 10x |
Phoenix COIN
SoDEX COIN-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX 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
- −$39.42
- Price spread: −0.050% → 0.000%
- −$4.95
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$59.37
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 55 min ago; SoDEX: 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, 55 min ago | 2.97 bp | 10.6 bp −$11 | 22.1 bp −$221 | doesn't fit | doesn't fit |
| Sell SoDEX no order-book sample | — | — | — | — | — |
SoDEX: 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 | 201.40 | −0.272% | $44K | $49K | 30x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 201.94 | −0.003% | $370K | $839K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 201.87 | −0.038% | $119K | $446K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 201.91 | −0.019% | $15.6M | $76.6M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 201.93 | −0.010% | $5.0M | $5.9M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 202.00 | +0.025% | $3.3M | $4.7M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 201.93 | −0.010% | $1.3M | $7.0M | 50x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 201.89 | −0.028% | $840K | $1.1M | — | as long as short |
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 201.94 | −0.007% | $12K | $2.0M | 10x | as long as short |
| Bitget COINUSDT | +0.0002% | 8h | 202.00 | +0.025% | $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 | 201.90 | −0.025% | $1.4M | $4.0M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 201.86 | −0.045% | $435K | $1.8M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 202.08 | +0.064% | $16K | $55K | 5x | as long as short |
| Vest COIN-USD-PERP | +0.0046% | 1h | 201.85 | −0.050% | — | $513K | 25x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 201.77 | −0.089% | $129K | $1.2M | 10x | as long as short |
| SoDEX COIN-USDshort | +0.0050% | 1h | 201.85 | −0.050% | $86 | $3K | 10x | |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 201.81 | −0.069% | $361K | $3.3M | 10x | as long as short |
| Lighter COIN | +0.0080% | 1h | 201.88 | −0.035% | $377K | $2.0M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 201.99 | +0.020% | $1.0M | $138K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 201.91 | −0.020% | $91K | $310K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 201.89 | −0.030% | $584 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 201.89 | −0.028% | $119 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 202.01 | +0.030% | $200K | $342K | 20x | as long as short |
| tradeXYZ xyz:COIN | +0.0146% | 1h | 201.85 | −0.050% | $16.6M | $13.2M | 10x | as long as short |
| Phoenix COINlong | +0.0238% | 1h | 201.95 | long leg | $5K | $279K | 10x | |
| edgeX COINUSDC | +0.0379% | 4h | 201.87 | −0.040% | $52K | $293K | 10x | as long as short |
QFEX COIN-USD
Lighter RH COIN
Arcus COIN-USD
Vest COIN-USD-PERP
Polymarket Perps COIN-USD
Ondo Perps COIN-USD.P
Lighter COIN
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
BloFin COIN-USDT
tradeXYZ xyz:COIN
edgeX COINUSDC