Funding arb · Price arb /

ORCL

RWAall ORCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0290%/8h= −31.8% APRpaid last 24h −0.090%

Price spread now: Binance against Phoenix+0.138%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$370.372% of the position

Long on Phoenix Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.772%−$77 on $10k

Price spread, last 4 days (all we have)−0.387%−$39 · spread now +0.138%, 7d avg +0.039%

Together, before fees−1.159%−$116 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.100% dearer against Phoenix than usual: you sell high and buy low (spread +0.138% now, against its 7-day average of +0.039%): +$10 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ORCL	149.31	0.0536	pay 0.0067% / 1h	31m 21s	$153K	$75K	10x
Short	Binance ORCLUSDT	149.52	0.0246	get 0.0246% / 8h	5h 31m	$24.9M	$35.4M	20x

Funding 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee BinancebpOrdersPrice spread, now +0.138%Rate

Funding earned: −$60.9
Price spread: +0.138% → +0.039%: $9.97
Slippage, 4 orders: −$20.16
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$88.09
Costs to cover: 0.372%
Break-even: never at this rate

Slippage from Phoenix: live order book, 25 min ago; Binance: live order book, 10 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, 25 min ago	2.68 bp	10.2 bp −$10	21.3 bp −$213	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	0.34 bp	8.9 bp −$9	17.7 bp −$177	75.5 bp −$7,548	doesn't fit

ORCL on 28 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 ORCLUSDC	−0.0764%	4h	149.42	+0.075%	$28K	$214K	10x	as long as short
Aster ORCLUSDT	0.0000%	8h	149.34	+0.022%	$94K	$16K	20x	as long as short
SunX ORCL-USDT	0.0000%	8h	149.72	+0.275%	$2K	$2.7M	10x	as long as short
HTX ORCL-USDT	0.0000%	8h	149.56	+0.167%	$52K	$23K	20x	as long as short
Lighter ORCL	+0.0032%	1h	149.48	+0.114%	$474K	$51K	10x	as long as short
Lighter RH ORCL	+0.0032%	1h	149.47	+0.107%	$622K	$318K	10x	as long as short
Injective ORCL/USDC PERP	+0.0033%	1h	149.06	−0.167%	$20K	$12K	12x	as long as short
Arcus ORCL-USD	+0.0040%	1h	149.34	+0.020%	$87K	$79K	10x	as long as short
Bitget ORCLUSDT	+0.0043%	8h	149.57	+0.174%	$7.7M	$4.0M	20x	as long as short
Vest ORCL-USD-PERP	+0.0046%	1h	149.45	+0.094%	—	$67K	25x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ORCL_USDT	+0.0047%	8h	149.53	+0.147%	$2.3M	$2.9M	25x	as long as short
tradeXYZ xyz:ORCL	+0.0050%	1h	149.36	+0.033%	$21.5M	$6.8M	10x	as long as short
Polymarket Perps ORCL-USD	+0.0050%	1h	149.40	+0.060%	$131K	$90K	10x	as long as short
SoDEX ORCL-USD	+0.0050%	1h	149.47	+0.107%	$30K	$3K	10x	as long as short
Ondo Perps ORCL-USD.P	+0.0050%	1h	149.26	−0.033%	$699K	$728K	10x	as long as short
QFEX ORCL-USD	+0.0059%	1h	149.45	+0.094%	$1.1M	$2.7M	10x	as long as short
Nado ORCL-PERP	+0.0062%	1h	149.33	+0.015%	$92K	$18K	10x	as long as short
ApeX Omni ORACLEUSDT	+0.0100%	1h	149.28	−0.020%	$22K	$267K	50x	as long as short
Orderly PERP_ORCL_USDC_mythos	+0.0100%	8h	149.44	+0.087%	$190	—	10x	as long as short
GRVT ORCL_USDT_Perp	+0.0139%	8h	149.49	+0.121%	$2K	$179K	10x	as long as short
Variational Omni ORCL	+0.0177%	8h	149.31	−0.003%	$1.3M	$363K	—	as long as short
Binance ORCLUSDTshort	+0.0246%	8h	149.52	+0.138%	$24.9M	$35.4M	20x
Extended ORCL_24_5-USD	+0.0248%	1h	149.48	+0.114%	$387K	$1.3M	10x	as long as short
OKX ORCL-USDT-SWAP	+0.0327%	8h	149.51	+0.134%	$4.9M	$5.5M	20x	as long as short
KuCoin ORCLUSDTM	+0.0330%	8h	149.49	+0.121%	$261K	$267K	20x	as long as short
Bybit ORCLUSDT	+0.0520%	8h	149.61	+0.201%	$3.7M	$1.5M	50x	as long as short
Phoenix ORCLlong	+0.0536%	1h	149.31	long leg	$153K	$75K	10x
BloFin ORCL-USDT	+0.0541%	8h	149.54	+0.154%	$47K	$43K	20x	as long as short