Funding you earn now, next payment 23:00 UTC+0.0009%/8h= +0.9% APRnext payment +$0.01 per $10,000 · paid last 24h −0.013%
Price spread now: tradeXYZ against Phoenix−0.188%7-day average −0.034% · you buy dearer than you sell
Net, funding: paid 7d − costs−$54as in the Funding arb table
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
costs, in and out, $10k−$450.445% of the position
Funding, last 7 days−0.099%−$10 on $10k
+Price spread, last 3 days (all we have)+0.248%+$25 · spread now −0.188%, 7d avg −0.034%
=Together, before fees+0.149%+ Points / potential airdroptradeXYZ: Active · farm board+$15 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: tradeXYZ is 0.154% cheaper against Phoenix than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of −0.034%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix COIN | 202.32 | 0.0238 | pay 0.0030% / 1h | 36m 33s | $5K | $279K | 10x |
| Short | tradeXYZ xyz:COIN | 201.94 | 0.0246 | get 0.0031% / 1h | 36m 33s | $16.5M | $13.1M | 10x |
Phoenix COIN
tradeXYZ xyz:COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- $1.8
- Price spread: −0.188% → −0.034%
- −$15.42
- Slippage, 4 orders
- −$19.51
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$58.14
- Costs to cover
- 0.445%
- Break-even
- 232.8 days
Slippage from Phoenix: live order book, 36 min ago; tradeXYZ: live order book, 2 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, 36 min ago | 2.97 bp | 10.6 bp −$11 | 22.1 bp −$221 | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 2 min ago | 0.49 bp | 11.9 bp −$12 | 16.8 bp −$168 | 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 | 202.22 | −0.049% | $45K | $49K | 30x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 202.06 | −0.129% | $371K | $839K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 202.07 | −0.126% | $119K | $446K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 202.11 | −0.104% | $15.7M | $76.6M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 202.16 | −0.079% | $5.0M | $5.9M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 202.12 | −0.099% | $3.3M | $4.7M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 202.09 | −0.114% | $1.3M | $7.0M | 50x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 202.32 | +0.002% | $841K | $1.1M | — | as long as short |
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 202.35 | +0.015% | $12K | $2.0M | 10x | as long as short |
| Bitget COINUSDT | +0.0010% | 8h | 202.18 | −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 | 202.03 | −0.143% | $1.4M | $3.9M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 201.98 | −0.168% | $434K | $1.8M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 202.20 | −0.059% | $16K | $55K | 5x | as long as short |
| Vest COIN-USD-PERP | +0.0046% | 1h | 201.93 | −0.193% | — | $513K | 25x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 201.98 | −0.168% | $132K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 202.12 | −0.099% | $79 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 201.98 | −0.168% | $367K | $3.3M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 202.11 | −0.104% | $1.0M | $138K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 202.12 | −0.099% | $91K | $328K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 202.11 | −0.104% | $585 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 202.11 | −0.104% | $119 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 202.14 | −0.089% | $200K | $342K | 20x | as long as short |
| edgeX COINUSDC | +0.0125% | 4h | 202.19 | −0.063% | $52K | $293K | 10x | as long as short |
| Lighter COIN | +0.0168% | 1h | 201.99 | −0.161% | $377K | $2.0M | 10x | as long as short |
| Phoenix COINlong | +0.0238% | 1h | 202.32 | long leg | $5K | $279K | 10x | |
| tradeXYZ xyz:COINshort | +0.0246% | 1h | 201.94 | −0.188% | $16.5M | $13.1M | 10x |
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
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
BloFin COIN-USDT
edgeX COINUSDC
Lighter COIN