Funding you earn now, next payment 01:00 UTC−0.0317%/8h= −34.7% APRpaid last 24h −0.098%
Price spread now: Bybit against Phoenix+0.045%65s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.522%−$52 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Bybit is 0.045% dearer against Phoenix than usual: you sell high and buy low (spread +0.045% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 11 hours. The two prices were read 65 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 | 353.26 | 0.0317 | pay 0.0040% / 1h | 20m 16s | $167 | $85K | 10x |
| Short | Bybit NETUSDT | 353.42 | 0 | get 0.0000% / 8h | 6h 20m | $384K | $108K | 25x |
Phoenix NET
Bybit NETUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$66.53
- Price spread: +0.045% → 0.000%
- $4.53
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$80
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Bybit: live order book, 39 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 Bybit live order book, 39 min ago | 2.41 bp | 45.8 bp −$46 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Paragon para:NET | −0.0049% | 1h | 352.23 | −0.292% | $175K | $38K | 10x | as long as short |
| Binance NETUSDT | 0.0000% | 8h | 353.35 | +0.025% | $368K | $765K | 20x | as long as short |
| Bybit NETUSDTshort | 0.0000% | 8h | 353.42 | +0.045% | $384K | $108K | 25x | |
| OKX NET-USDT-SWAP | 0.0000% | 8h | 353.10 | −0.045% | $177K | $101K | 20x | as long as short |
| Gate NET_USDT | 0.0000% | 8h | 352.90 | −0.102% | $40K | $6K | 20x | as long as short |
| Bitget NETUSDT | 0.0000% | 8h | 353.30 | +0.011% | $185K | $567K | 20x | as long as short |
| HTX NET-USDT | 0.0000% | 8h | 353.38 | +0.034% | $9K | $345K | 20x | as long as short |
| tradeXYZ xyz:NET | +0.0050% | 1h | 353.53 | +0.076% | $372K | $185K | 10x | as long as short |
| Phoenix NETlong | +0.0317% | 1h | 353.26 | long leg | $167 | $85K | 10x | |
| edgeX NETUSDC | +0.0674% | 4h | 353.45 | +0.055% | $37K | $325K | 10x | as long as short |
Paragon para:NET
Binance NETUSDT
OKX NET-USDT-SWAP
Gate NET_USDT
Bitget NETUSDT
HTX NET-USDT
tradeXYZ xyz:NET
edgeX NETUSDC