Funding you earn now, next payment 02:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h −0.039%
Price spread now: Bybit against Phoenix+0.194%105s7-day average +0.065% · you sell dearer than you buy
Net, funding: paid 7d − costs−$112as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$450.445% of the position
Funding, last 7 days−0.678%−$68 on $10k
+Price spread, last 4 days (all we have)−0.472%−$47 · spread now +0.194%, 7d avg +0.065%
=The price spread pays, funding is against you. Bybit is 0.129% dearer against Phoenix than usual: you sell high and buy low (spread +0.194% now, against its 7-day average of +0.065%): +$13 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 15 days. At the pace of the last 7 days (−0.678% in total) that is about 32 hours. The two prices were read 105 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 ORCL | 149.19 | 0.0536 | pay 0.0067% / 1h | 37m 44s | $153K | $75K | 10x |
| Short | Bybit ORCLUSDT | 149.48 | 0.0508 | get 0.0508% / 8h | 5h 37m | $3.6M | $1.5M | 50x |
Phoenix ORCL
Bybit ORCLUSDTFunding 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
- −$5.89
- Price spread: +0.194% → +0.065%
- $12.93
- Slippage, 4 orders
- −$26.54
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$37.5
- Costs to cover
- 0.445%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 18 min ago; Bybit: live order book, 5 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, 18 min ago | 2.68 bp | 10.2 bp −$10 | 21.3 bp −$213 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 1.67 bp | 11.8 bp −$12 | 23.6 bp −$236 | doesn't fit | 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 | −0.0316% | 4h | 149.26 | +0.044% | $28K | $213K | 10x | as long as short |
| Aster ORCLUSDT | 0.0000% | 8h | 149.25 | +0.041% | $94K | $16K | 20x | as long as short |
| SunX ORCL-USDT | 0.0000% | 8h | 149.60 | +0.275% | $3K | $2.7M | 10x | as long as short |
| HTX ORCL-USDT | 0.0000% | 8h | 149.36 | +0.114% | $52K | $23K | 20x | as long as short |
| Lighter ORCL | +0.0032% | 1h | 149.42 | +0.154% | $474K | $51K | 10x | as long as short |
| Lighter RH ORCL | +0.0032% | 1h | 149.36 | +0.114% | $621K | $318K | 10x | as long as short |
| Injective ORCL/USDC PERP | +0.0033% | 1h | 149.06 | −0.087% | $20K | $12K | 12x | as long as short |
| Gate ORCL_USDT | +0.0040% | 8h | 149.41 | +0.147% | $2.3M | $2.9M | 25x | as long as short |
| Arcus ORCL-USD | +0.0040% | 1h | 149.24 | +0.034% | $86K | $79K | 10x | as long as short |
| Vest ORCL-USD-PERP | +0.0046% | 1h | 149.31 | +0.080% | — | $67K | 25x | as long as short |
edgeX ORCLUSDC
Aster ORCLUSDT
SunX ORCL-USDT
HTX ORCL-USDT
Lighter ORCL
Lighter RH ORCL
Injective ORCL/USDC PERP
Gate ORCL_USDT
Arcus ORCL-USD
Vest ORCL-USD-PERPShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget ORCLUSDT | +0.0049% | 8h | 149.43 | +0.161% | $7.7M | $4.0M | 20x | as long as short |
| tradeXYZ xyz:ORCL | +0.0050% | 1h | 149.24 | +0.034% | $21.5M | $6.8M | 10x | as long as short |
| Polymarket Perps ORCL-USD | +0.0050% | 1h | 149.25 | +0.040% | $131K | $90K | 10x | as long as short |
| SoDEX ORCL-USD | +0.0050% | 1h | 149.34 | +0.101% | $30K | $3K | 10x | as long as short |
| Ondo Perps ORCL-USD.P | +0.0050% | 1h | 149.20 | +0.007% | $696K | $720K | 10x | as long as short |
| QFEX ORCL-USD | +0.0059% | 1h | 149.29 | +0.067% | $1.1M | $2.7M | 10x | as long as short |
| Nado ORCL-PERP | +0.0075% | 1h | 149.21 | +0.014% | $92K | $18K | 10x | as long as short |
| ApeX Omni ORACLEUSDT | +0.0100% | 1h | 149.30 | +0.074% | $22K | $267K | 50x | as long as short |
| Orderly PERP_ORCL_USDC_mythos | +0.0100% | 8h | 149.34 | +0.101% | $190 | — | 10x | as long as short |
| GRVT ORCL_USDT_Perp | +0.0144% | 8h | 149.27 | +0.055% | $2K | $179K | 10x | as long as short |
| Variational Omni ORCL | +0.0175% | 8h | 149.27 | +0.051% | $1.3M | $363K | — | as long as short |
| Extended ORCL_24_5-USD | +0.0240% | 1h | 149.34 | +0.100% | $387K | $1.3M | 10x | as long as short |
| Binance ORCLUSDT | +0.0244% | 8h | 149.38 | +0.127% | $24.9M | $35.4M | 20x | as long as short |
| KuCoin ORCLUSDTM | +0.0328% | 8h | 149.47 | +0.188% | $261K | $267K | 20x | as long as short |
| OKX ORCL-USDT-SWAP | +0.0330% | 8h | 149.38 | +0.127% | $4.9M | $5.5M | 20x | as long as short |
| BloFin ORCL-USDT | +0.0478% | 8h | 149.39 | +0.134% | $47K | $43K | 20x | as long as short |
| Bybit ORCLUSDTshort | +0.0508% | 8h | 149.48 | +0.194% | $3.6M | $1.5M | 50x | |
| Phoenix ORCLlong | +0.0536% | 1h | 149.19 | long leg | $153K | $75K | 10x |
Bitget ORCLUSDT
tradeXYZ xyz:ORCL
Polymarket Perps ORCL-USD
SoDEX ORCL-USD
Ondo Perps ORCL-USD.P
QFEX ORCL-USD
Nado ORCL-PERP
ApeX Omni ORACLEUSDT
Orderly PERP_ORCL_USDC_mythos
GRVT ORCL_USDT_Perp
Variational Omni ORCL
Extended ORCL_24_5-USD
Binance ORCLUSDT
KuCoin ORCLUSDTM
OKX ORCL-USDT-SWAP
BloFin ORCL-USDT