Funding you earn now, next payment 00:00 UTC+0.0217%/8h= +23.7% APRpaid last 24h +0.002%
Price spread now: Phemex against Orderly−0.252%53s7-day average +0.060% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.120%−$12 on $10k
+Price spread, last 3 days (all we have)+0.364%+$36 · spread now −0.252%, 7d avg +0.060%
=Funding pays, the price is against you. Phemex is 0.313% cheaper against Orderly than usual: you would sell low and buy high (spread −0.252% now, against its 7-day average of +0.060%). If the spread goes back, that is −$31 on $10k: about 4.8 days of funding at the current rate (+$7 a day). Mind the row above: over the last 7 days funding on this pair cost −0.120%, so the current rate has only just turned in your favour. The two prices were read 53 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 7 days it paid -0.120% in total (about -6.3% 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 | Orderly PERP_NAS100_USDC | 30,540 | −0.0217 | get 0.0217% / 8h | 17m 24s | $102K | $38K | 20x |
| Short | Phemex NAS100USDT | 30,462.9 | 0 | get 0.0000% / 4h | 17m 24s | $1.4M | $177K | 10x |
Orderly PERP_NAS100_USDC
Phemex NAS100USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Orderly. 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
- $45.52
- Price spread: −0.252% → +0.060%
- −$31.26
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$3.74
- Costs to cover
- 0.180%
- Break-even
- 7.6 days
Slippage unknown: Orderly: no order-book sample; Phemex: live order book, just now. 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, just now | 1.54 bp | 16.9 bp −$17 | doesn't fit | doesn't fit | doesn't fit |
Orderly: 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.
NAS100 on 15 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 | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_NAS100_USDClong | −0.0217% | 8h | 30,540 | long leg | $102K | $38K | 20x | |
| MEXC NAS100_USDT | −0.0111% | 8h | 30,550 | +0.033% | $22.9M | $19.6M | 200x | as long as short |
| Gate NAS100_USDT | −0.0061% | 8h | 30,498 | −0.138% | $1.8M | $3.6M | 100x | as long as short |
| OKX US100-USDT-SWAP | 0.0000% | 8h | 30,509 | −0.102% | $260K | $357K | 20x | as long as short |
| Bitget NDX100USDT | 0.0000% | 8h | 30,534 | −0.020% | $3.5M | $669K | 50x | as long as short |
| Bullet US100-USD | 0.0000% | 1h | 30,550 | +0.033% | $3K | $90K | 10x | as long as short |
| Phemex NAS100USDTshort | 0.0000% | 4h | 30,462.9 | −0.252% | $1.4M | $177K | 10x | |
| QFEX US100-USD | +0.0001% | 1h | 30,549 | +0.029% | $1.4M | $1.0M | 30x | as long as short |
| Lighter US100 | +0.0032% | 1h | 30,546 | +0.020% | $3.8M | $93.8M | 30x | as long as short |
| Extended TECH100m-USD | +0.0032% | 1h | 30,552.1 | +0.040% | $2.1M | $5.5M | 20x | as long as short |
MEXC NAS100_USDT
Gate NAS100_USDT
OKX US100-USDT-SWAP
Bitget NDX100USDT
Bullet US100-USD
QFEX US100-USD
Lighter US100
Extended TECH100m-USDShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest NDX-USD-PERP | +0.0046% | 1h | 30,835.8 | +0.968% | — | $194.1M | 50x | as long as short |
| Paradex US100-USD-PERP | +0.0050% | 8h | 30,544.9 | +0.016% | — | — | 5x | as long as short |
| Polymarket Perps NAS100-USD | +0.0050% | 1h | 30,552 | +0.039% | $7.2M | $1.8M | 50x | as long as short |
| Ondo Perps US100-USD.P | +0.0213% | 1h | 30,562.7 | +0.074% | $6.0M | $8.8M | 25x | as long as short |
| Kraken Futures PF_US100USD | +0.1978% | 1h | 30,612.5 | +0.237% | $124K | $122K | 20x | as long as short |
Vest NDX-USD-PERP
Paradex US100-USD-PERP
Polymarket Perps NAS100-USD
Ondo Perps US100-USD.P
Kraken Futures PF_US100USD