Funding you earn now, next payment 07:00 UTC−0.0210%/8h= −23.0% APRnext payment −$0.26 per $10,000 · paid last 24h −0.057%
Price spread now: Vest against Phoenix−0.189%58s7-day average +0.091% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.047%−$5 on $10k
+Price spread, last 4 days (all we have)+0.472%+$47 · spread now −0.189%, 7d avg +0.091%
=Together, before fees+0.425%+ Points / potential airdropVest: Active · farm board+$43 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Vest is 0.280% cheaper against Phoenix than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of +0.091%). Swap the legs. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.047% in total (about -4.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.26 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix COIN | 195.44 | 0.0163 | pay 0.0020% / 1h | 8m 08s | $4K | $283K | 10x |
| Short | Vest COIN-USD-PERP | 195.07 | −0.0047 | pay 0.0006% / 1h | 8m 08s | — | $326K | 25x |
Phoenix COIN
Vest COIN-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Vest 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
- −$44.16
- Price spread: −0.189% → +0.091%
- −$28.01
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Vest: 1 bp × 2 orders
- −$2
- Net
- −$81.17
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 25 min ago; Vest: 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, 25 min ago | 3.58 bp | 11.6 bp −$12 | 24.5 bp −$245 | doesn't fit | doesn't fit |
| Sell Vest no order-book sample | — | — | — | — | — |
Vest: 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 | 195.45 | +0.005% | $43K | $48K | 30x | as long as short |
| Bitget COINUSDT | −0.0339% | 8h | 195.67 | +0.118% | $6.3M | $10.5M | 20x | as long as short |
| Vest COIN-USD-PERPshort | −0.0047% | 1h | 195.07 | −0.189% | — | $326K | 25x | |
| Aster COINUSDT | 0.0000% | 8h | 195.36 | −0.042% | $341K | $890K | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 195.50 | +0.031% | $4.7M | $6.2M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 195.36 | −0.041% | $3.0M | $4.7M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 195.53 | +0.046% | $1.2M | $7.4M | 50x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 195.51 | +0.036% | $692K | $991K | — | as long as short |
| GRVT COIN_USDT_Perp | +0.0001% | 8h | 195.57 | +0.067% | $15K | $2.9M | 10x | as long as short |
| Binance COINUSDT | +0.0022% | 8h | 195.49 | +0.026% | $15.0M | $82.1M | 20x | as long as short |
Injective COIN/USDC PERP
Bitget COINUSDT
Aster COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
Gate COIN_USDT
Variational Omni COIN
GRVT COIN_USDT_Perp
Binance COINUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended COIN_24_5-USD | +0.0024% | 1h | 195.43 | −0.003% | $104K | $860K | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 195.41 | −0.015% | $464K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 195.74 | +0.153% | $17K | $58K | 5x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 195.38 | −0.031% | $15.1M | $12.9M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 195.42 | −0.010% | $135K | $1.4M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 195.41 | −0.015% | $88 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 195.36 | −0.041% | $450K | $2.8M | 10x | as long as short |
| QFEX COIN-USD | +0.0065% | 1h | 195.55 | +0.056% | $1.3M | $2.9M | 10x | as long as short |
| BloFin COIN-USDT | +0.0081% | 8h | 195.58 | +0.072% | $187K | $434K | 20x | as long as short |
| Lighter COIN | +0.0096% | 1h | 195.43 | −0.004% | $362K | $2.3M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 195.37 | −0.036% | $984K | $144K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 195.44 | 0.000% | $88K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 195.46 | +0.010% | $565 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 195.43 | −0.003% | $115 | — | 10x | as long as short |
| Phoenix COINlong | +0.0163% | 1h | 195.44 | long leg | $4K | $283K | 10x | |
| edgeX COINUSDC | +0.0681% | 4h | 195.50 | +0.029% | $50K | $294K | 10x | as long as short |
Extended COIN_24_5-USD
Lighter RH COIN
Arcus COIN-USD
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
SoDEX COIN-USD
Ondo Perps COIN-USD.P
QFEX COIN-USD
BloFin COIN-USDT
Lighter COIN
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
edgeX COINUSDC