Funding you earn now, next payment 07:00 UTC+0.0113%/8h= +12.4% APRnext payment +$0.14 per $10,000 · paid last 24h +0.021%
Price spread now: Phoenix against tradeXYZ−0.036%7-day average +0.037% · you buy dearer than you sell
Net, funding: paid 7d − costs−$34as in the Funding arb table
Net, price: spread back to 7d avg − costs−$52as in the Price arb table
costs, in and out, $10k−$450.449% of the position
Funding, last 7 days+0.109%+$11 on $10k
+Price spread, last 4 days (all we have)−0.252%−$25 · spread now −0.036%, 7d avg +0.037%
=Together, before fees−0.144%+ Points / potential airdroptradeXYZ: Active · farm board−$14 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.072% cheaper against tradeXYZ than usual: you would sell low and buy high (spread −0.036% now, against its 7-day average of +0.037%). If the spread goes back, that is −$7 on $10k: about 2.1 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.109% in total) that is about 4.7 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | tradeXYZ xyz:COIN | 196.24 | 0.0050 | pay 0.0006% / 1h | 47m 28s | $15.2M | $13.1M | 10x |
| Short | Phoenix COIN | 196.17 | 0.0163 | get 0.0020% / 1h | 47m 28s | $4K | $283K | 10x |
tradeXYZ xyz:COIN
Phoenix COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against tradeXYZ. 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
- $23.83
- Price spread: −0.036% → +0.037%
- −$7.24
- Slippage, 4 orders
- −$19.85
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$28.26
- Costs to cover
- 0.449%
- Break-even
- 15.3 days
Slippage from tradeXYZ: live order book, 11 min ago; Phoenix: live order book, 50 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 tradeXYZ live order book, 11 min ago | 0.77 bp | 11.9 bp −$12 | 16.3 bp −$163 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 50 min ago | 3.07 bp | 10.8 bp −$11 | 22.3 bp −$223 | 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 | −0.0459% | 8h | 196.50 | +0.132% | $6.4M | $10.6M | 20x | as long as short |
| Injective COIN/USDC PERP | −0.0440% | 1h | 196.06 | −0.092% | $43K | $48K | 30x | as long as short |
| Vest COIN-USD-PERP | −0.0064% | 1h | 195.90 | −0.173% | — | $326K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 196.29 | +0.024% | $342K | $890K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 196.34 | +0.049% | $106K | $861K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 196.47 | +0.117% | $15.0M | $82.2M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 196.44 | +0.102% | $4.7M | $6.2M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 196.40 | +0.082% | $3.0M | $4.7M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 196.58 | +0.173% | $1.2M | $7.3M | 50x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 196.03 | −0.109% | $713K | $975K | — | as long as short |
Bitget COINUSDT
Injective COIN/USDC PERP
Vest COIN-USD-PERP
Aster COINUSDT
Extended COIN_24_5-USD
Binance COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
Gate COIN_USDT
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 | 196.10 | −0.072% | $22K | $2.8M | 10x | as long as short |
| Lighter COIN | +0.0032% | 1h | 196.23 | −0.004% | $363K | $2.3M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 196.22 | −0.010% | $462K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 196.31 | +0.036% | $17K | $58K | 5x | as long as short |
| tradeXYZ xyz:COINlong | +0.0050% | 1h | 196.24 | long leg | $15.2M | $13.1M | 10x | |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 196.26 | +0.010% | $130K | $1.4M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 196.27 | +0.015% | $100 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 195.69 | −0.280% | $448K | $2.8M | 10x | as long as short |
| QFEX COIN-USD | +0.0065% | 1h | 196.35 | +0.056% | $1.3M | $2.9M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 196.18 | −0.031% | $989K | $136K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 196.07 | −0.087% | $88K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 196.40 | +0.082% | $568 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 196.30 | +0.033% | $116 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 196.31 | +0.036% | $188K | $437K | 20x | as long as short |
| Phoenix COINshort | +0.0163% | 1h | 196.17 | −0.036% | $4K | $283K | 10x | |
| edgeX COINUSDC | +0.0756% | 4h | 196.06 | −0.090% | $50K | $295K | 10x | as long as short |
GRVT COIN_USDT_Perp
Lighter COIN
Lighter RH COIN
Arcus COIN-USD
Polymarket Perps COIN-USD
SoDEX COIN-USD
Ondo Perps COIN-USD.P
QFEX COIN-USD
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
BloFin COIN-USDT
edgeX COINUSDC