Funding you earn now, next payment 00:00 UTC+0.0237%/8h= +26.0% APRpaid last 24h +0.061%
Price spread now: Phoenix against Variational Omni−0.031%7-day average +0.010% · 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)+0.066%+$7 on $10k
+Price spread, last 3 days (all we have)+0.059%+$6 · spread now −0.031%, 7d avg +0.010%
=Together, before fees+0.125%+ Points / potential airdropVariational Omni: Active · farm board+$13 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.041% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.031% now, against its 7-day average of +0.010%). If the spread goes back, that is −$4 on $10k: about 14 hours of funding at the current rate (+$7 a day). At the pace of the last 3 days (+0.066% in total) that is about 2.1 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.066% in total (about 7.2% a year). A funding rate is set anew for every payment. 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 | Variational Omni COIN | 201.11 | 0 | get 0.0000% / 8h | 7h 08m | $834K | $1.0M | — |
| Short | Phoenix COIN | 201.05 | 0.0237 | get 0.0030% / 1h | 8m 53s | $5K | $279K | 10x |
Variational Omni COIN
Phoenix COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Variational Omni. 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
- $49.84
- Price spread: −0.031% → +0.010%
- −$4.05
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $38.78
- Costs to cover
- 0.070%
- Break-even
- 1.6 days
Slippage unknown: Variational Omni: RFQ quote, just now; Phoenix: live order book, 59 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 Variational Omni RFQ quote, just now | 2.86 bp | doesn't fit | 28.6 bp −$286 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 59 min ago | 3.46 bp | 12.0 bp −$12 | 25.7 bp −$257 | 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 | 201.06 | −0.026% | $44K | $48K | 30x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 201.01 | −0.049% | $368K | $840K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 200.95 | −0.078% | $120K | $705K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 200.98 | −0.065% | $15.7M | $74.7M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 201.02 | −0.046% | $5.0M | $5.9M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 201.07 | −0.021% | $3.3M | $4.5M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 201.16 | +0.024% | $1.3M | $6.9M | 50x | as long as short |
| Bitget COINUSDT | 0.0000% | 8h | 201.11 | −0.001% | $6.8M | $9.1M | 20x | as long as short |
| Variational Omni COINlong | 0.0000% | 8h | 201.11 | long leg | $834K | $1.0M | — | |
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 201.33 | +0.108% | $13K | $2.0M | 10x | 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
Bitget COINUSDT
GRVT COIN_USDT_PerpShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| QFEX COIN-USD | +0.0021% | 1h | 201.12 | +0.004% | $1.4M | $3.7M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 200.99 | −0.061% | $431K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 201.28 | +0.084% | $16K | $53K | 5x | as long as short |
| Vest COIN-USD-PERP | +0.0046% | 1h | 200.92 | −0.095% | — | $286K | 25x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 200.89 | −0.110% | $16.5M | $12.3M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 201.02 | −0.046% | $129K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 201.03 | −0.041% | $98 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 201.04 | −0.036% | $356K | $3.3M | 10x | as long as short |
| Lighter COIN | +0.0072% | 1h | 201.02 | −0.047% | $373K | $1.8M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 201.14 | +0.014% | $1.0M | $120K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 201.11 | −0.001% | $90K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 201.08 | −0.016% | $582 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 201.02 | −0.045% | $119 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 201.16 | +0.024% | $199K | $341K | 20x | as long as short |
| Phoenix COINshort | +0.0237% | 1h | 201.05 | −0.031% | $5K | $279K | 10x | |
| edgeX COINUSDC | +0.0705% | 4h | 201.11 | −0.003% | $52K | $293K | 10x | as long as short |
QFEX COIN-USD
Lighter RH COIN
Arcus COIN-USD
Vest COIN-USD-PERP
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
SoDEX 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
edgeX COINUSDC