Funding you earn now, next payment 06:00 UTC−0.0246%/8h= −27.0% APRnext payment −$0.31 per $10,000 · paid last 24h −0.074%
Price spread now: tradeXYZ against Phoenix−0.156%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.072%−$7 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and tradeXYZ is 0.156% cheaper against Phoenix than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.072% in total (about -3.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.31 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 NET | 351.89 | 0.0296 | pay 0.0037% / 1h | 18m 31s | $170 | $84K | 10x |
| Short | tradeXYZ xyz:NET | 351.34 | 0.0050 | get 0.0006% / 1h | 18m 31s | $384K | $180K | 10x |
Phoenix NET
tradeXYZ xyz:NETFunding 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
- −$51.71
- Price spread: −0.156% → 0.000%
- −$15.63
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$92.34
- Costs to cover
- 0.250%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; tradeXYZ: live order book, 48 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 tradeXYZ live order book, 48 min ago | 9.26 bp | 52.6 bp −$53 | 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 | −0.3267% | 1h | 351.26 | −0.179% | $175K | $41K | 10x | as long as short |
| Binance NETUSDT | 0.0000% | 8h | 351.65 | −0.068% | $366K | $796K | 20x | as long as short |
| Bybit NETUSDT | 0.0000% | 8h | 351.89 | 0.000% | $382K | $111K | 25x | as long as short |
| OKX NET-USDT-SWAP | 0.0000% | 8h | 351.94 | +0.014% | $176K | $111K | 20x | as long as short |
| Gate NET_USDT | 0.0000% | 8h | 351.90 | +0.003% | $39K | $6K | 20x | as long as short |
| Bitget NETUSDT | 0.0000% | 8h | 350.62 | −0.361% | $226K | $604K | 20x | as long as short |
| HTX NET-USDT | 0.0000% | 8h | 350.83 | −0.301% | $9K | $351K | 20x | as long as short |
| tradeXYZ xyz:NETshort | +0.0050% | 1h | 351.34 | −0.156% | $384K | $180K | 10x | |
| Phoenix NETlong | +0.0296% | 1h | 351.89 | long leg | $170 | $84K | 10x | |
| edgeX NETUSDC | +0.0521% | 4h | 351.83 | −0.018% | $37K | $331K | 10x | as long as short |
Paragon para:NET
Binance NETUSDT
Bybit NETUSDT
OKX NET-USDT-SWAP
Gate NET_USDT
Bitget NETUSDT
HTX NET-USDT
edgeX NETUSDC