Funding you earn now, next payment 03:00 UTC−0.0121%/8h= −13.3% APRpaid last 24h −0.062%
Price spread now: Variational Omni against Phoenix−0.092%69s7-day average −0.011% · 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)−0.073%−$7 on $10k
+Price spread, last 4 days (all we have)+0.079%+$8 · spread now −0.092%, 7d avg −0.011%
=Together, before fees+0.005%+ Points / potential airdropVariational Omni: Active · farm board+$1 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Variational Omni is 0.081% cheaper against Phoenix than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.011%). Swap the legs. The two prices were read 69 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 | 197.32 | 0.0121 | pay 0.0015% / 1h | 44m 21s | $5K | $281K | 10x |
| Short | Variational Omni COIN | 197.14 | 0 | get 0.0000% / 8h | 4h 44m | $683K | $938K | — |
Phoenix COIN
Variational Omni COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$25.5
- Price spread: −0.092% → −0.011%
- −$8.07
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$40.57
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 8 min ago; Variational Omni: RFQ quote, 5 min ago. 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, 8 min ago | 3.55 bp | 11.7 bp −$12 | 24.8 bp −$248 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 5 min ago | 2.87 bp | doesn't fit | 22.8 bp −$228 | 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 | −0.0711% | 8h | 197.38 | +0.030% | $6.2M | $10.3M | 20x | as long as short |
| Injective COIN/USDC PERP | −0.0440% | 1h | 197.23 | −0.046% | $43K | $48K | 30x | as long as short |
| Gate COIN_USDT | −0.0203% | 8h | 197.24 | −0.041% | $1.2M | $7.1M | 50x | as long as short |
| Vest COIN-USD-PERP | −0.0084% | 1h | 196.58 | −0.375% | — | $277K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 197.36 | +0.023% | $345K | $885K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 197.16 | −0.083% | $119K | $694K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 197.22 | −0.050% | $15.1M | $78.9M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 197.18 | −0.071% | $4.9M | $5.9M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 197.16 | −0.081% | $3.0M | $4.6M | 20x | as long as short |
| Variational Omni COINshort | 0.0000% | 8h | 197.14 | −0.092% | $683K | $938K | — |
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-SWAPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 197.15 | −0.086% | $10K | $2.2M | 10x | as long as short |
| QFEX COIN-USD | +0.0013% | 1h | 197.14 | −0.091% | $1.3M | $3.3M | 10x | as long as short |
| Lighter COIN | +0.0032% | 1h | 197.12 | −0.102% | $356K | $2.0M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 197.11 | −0.106% | $454K | $1.4M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 197.26 | −0.030% | $15K | $55K | 5x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 197.15 | −0.086% | $15.4M | $13.6M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 197.12 | −0.101% | $127K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 197.06 | −0.132% | $67 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 196.91 | −0.208% | $348K | $2.8M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 197.17 | −0.076% | $993K | $143K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 197.04 | −0.142% | $89K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 197.18 | −0.071% | $570 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 197.21 | −0.055% | $116 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 197.16 | −0.081% | $189K | $390K | 20x | as long as short |
| Phoenix COINlong | +0.0121% | 1h | 197.32 | long leg | $5K | $281K | 10x | |
| edgeX COINUSDC | +0.0720% | 4h | 197.12 | −0.102% | $51K | $296K | 10x | as long as short |
GRVT COIN_USDT_Perp
QFEX COIN-USD
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