Funding you earn now, next payment 03:00 UTC−0.0226%/8h= −24.8% APRpaid last 24h −0.096%
Price spread now: Binance against Phoenix−0.093%85s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.488%−$49 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Binance is 0.093% cheaper against Phoenix than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix NET | 353.58 | 0.0226 | pay 0.0028% / 1h | 58m 04s | $165 | $85K | 10x |
| Short | Binance NETUSDT | 353.25 | 0 | get 0.0000% / 8h | 3h 58m | $366K | $773K | 20x |
Phoenix NET
Binance NETUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$47.51
- Price spread: −0.093% → 0.000%
- −$9.27
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$73.78
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Binance: live order book, 64 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 64 min ago | 4.67 bp | 33.7 bp −$34 | 112.6 bp −$1,126 | doesn't fit | doesn't fit |
Phoenix: 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.
NET on 10 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX NETUSDC | −0.0495% | 4h | 353.07 | −0.143% | $37K | $329K | 10x | as long as short |
| tradeXYZ xyz:NET | −0.0053% | 1h | 353.28 | −0.085% | $385K | $194K | 10x | as long as short |
| Binance NETUSDTshort | 0.0000% | 8h | 353.25 | −0.093% | $366K | $773K | 20x | |
| Bybit NETUSDT | 0.0000% | 8h | 352.67 | −0.257% | $383K | $108K | 25x | as long as short |
| OKX NET-USDT-SWAP | 0.0000% | 8h | 353.23 | −0.099% | $177K | $104K | 20x | as long as short |
| Gate NET_USDT | 0.0000% | 8h | 352.50 | −0.305% | $40K | $6K | 20x | as long as short |
| Bitget NETUSDT | 0.0000% | 8h | 353.30 | −0.079% | $181K | $553K | 20x | as long as short |
| HTX NET-USDT | 0.0000% | 8h | 353.29 | −0.082% | $9K | $343K | 20x | as long as short |
| Phoenix NETlong | +0.0226% | 1h | 353.58 | long leg | $165 | $85K | 10x | |
| Paragon para:NET | +0.1681% | 1h | 352.57 | −0.286% | $175K | $38K | 10x | as long as short |
edgeX NETUSDC
tradeXYZ xyz:NET
Bybit NETUSDT
OKX NET-USDT-SWAP
Gate NET_USDT
Bitget NETUSDT
HTX NET-USDT
Paragon para:NET