Funding you earn now, next payment 04:00 UTC−0.0990%/8h= −108.4% APRnext payment −$1.24 per $10,000 · paid last 24h −0.141%
Price spread now: tradeXYZ against Phoenix+0.017%7-day average −0.078% · you sell dearer than you buy
Net, funding: paid 7d − costs−$105as in the Funding arb table
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$440.445% of the position
Funding, last 7 days−0.609%−$61 on $10k
+Price spread, last 4 days (all we have)−0.071%−$7 · spread now +0.017%, 7d avg −0.078%
=Together, before fees−0.680%+ Points / potential airdroptradeXYZ: Active · farm board−$68 on $10k · with fees, hour by hour
The price spread pays, funding is against you. tradeXYZ is 0.096% dearer against Phoenix than usual: you sell high and buy low (spread +0.017% now, against its 7-day average of −0.078%): +$10 on $10k if it goes back. Holding the pair costs −$30 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−0.609% in total) that is about 26 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.609% in total (about -31.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.24 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 DELL | 572.46 | 0.1040 | pay 0.0130% / 1h | 7m 05s | $3K | $260K | 10x |
| Short | tradeXYZ xyz:DELL | 572.56 | 0.0050 | get 0.0006% / 1h | 7m 05s | $7.5M | $7.0M | 10x |
Phoenix DELL
tradeXYZ xyz:DELLFunding 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
- −$207.9
- Price spread: +0.017% → −0.078%
- $9.57
- Slippage, 4 orders
- −$19.47
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$242.81
- Costs to cover
- 0.445%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 43 min ago; tradeXYZ: live order book, 11 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, 43 min ago | 2.78 bp | 9.6 bp −$10 | 19.3 bp −$193 | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 11 min ago | 0.79 bp | 13.2 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
DELL on 20 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster DELLUSDT | 0.0000% | 8h | 572.71 | +0.044% | $20K | $50K | 20x | as long as short |
| Gate DELL_USDT | 0.0000% | 8h | 573.02 | +0.098% | $4.1M | $7.3M | 50x | as long as short |
| Bitget DELLUSDT | 0.0000% | 8h | 573.14 | +0.119% | $3.6M | $4.7M | 20x | as long as short |
| Lighter DELL | +0.0032% | 1h | 573.27 | +0.141% | $33K | $13K | 10x | as long as short |
| Injective DELL/USDC PERP | +0.0033% | 1h | 571.67 | −0.138% | $8K | $83K | 12x | as long as short |
| tradeXYZ xyz:DELLshort | +0.0050% | 1h | 572.56 | +0.017% | $7.5M | $7.0M | 10x | |
| Polymarket Perps DELL-USD | +0.0050% | 1h | 572.88 | +0.073% | $7K | $54K | 10x | as long as short |
| KuCoin DELLUSDTM | +0.0100% | 8h | 572.69 | +0.040% | $938K | $29K | 20x | as long as short |
| Orderly PERP_DELL_USDC_mythos | +0.0100% | 8h | 573.58 | +0.196% | $3K | $336 | 10x | as long as short |
| HTX DELL-USDT | +0.0100% | 8h | 572.88 | +0.073% | $17K | $59K | 10x | as long as short |
Aster DELLUSDT
Gate DELL_USDT
Bitget DELLUSDT
Lighter DELL
Injective DELL/USDC PERP
Polymarket Perps DELL-USD
KuCoin DELLUSDTM
Orderly PERP_DELL_USDC_mythos
HTX DELL-USDTShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit DELLUSDT | +0.0140% | 8h | 572.85 | +0.068% | $6.1M | $3.9M | 50x | as long as short |
| edgeX DELLUSDC | +0.0178% | 4h | 572.65 | +0.033% | $5K | $333K | 10x | as long as short |
| OKX DELL-USDT-SWAP | +0.0338% | 8h | 573.27 | +0.141% | $5.8M | $6.6M | 20x | as long as short |
| GRVT DELL_USDT_Perp | +0.0550% | 8h | 572.74 | +0.049% | $802 | $151K | 10x | as long as short |
| Variational Omni DELL | +0.0565% | 8h | 572.85 | +0.069% | $262K | $62K | — | as long as short |
| Binance DELLUSDT | +0.0655% | 8h | 573.10 | +0.112% | $18.5M | $66.2M | 20x | as long as short |
| Extended DELL-USD | +0.0656% | 1h | 572.95 | +0.086% | $333K | $1.1M | 10x | as long as short |
| BloFin DELL-USDT | +0.0656% | 8h | 572.75 | +0.051% | $321K | $219K | 20x | as long as short |
| Nado DELL-PERP | +0.0773% | 1h | 572.15 | −0.054% | $69K | $20K | 10x | as long as short |
| Phoenix DELLlong | +0.1040% | 1h | 572.46 | long leg | $3K | $260K | 10x |
Bybit DELLUSDT
edgeX DELLUSDC
OKX DELL-USDT-SWAP
GRVT DELL_USDT_Perp
Variational Omni DELL
Binance DELLUSDT
Extended DELL-USD
BloFin DELL-USDT
Nado DELL-PERP