Funding you earn now, next payment 08:00 UTC+0.1958%/8h= +214.4% APRnext payment +$2.45 per $10,000 · paid last 24h +0.622%
Price spread now: Coinbase International against Deribit+0.197%7-day average +0.322% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$144as in the Price arb table
costs, in and out, $10k−$1311.311% of the position
Funding, last 6 days (all we have)+0.961%+$96 on $10k
+Price spread, last 4 days (all we have)−0.088%−$9 · spread now +0.197%, 7d avg +0.322%
=Funding pays, the price is against you. Coinbase International is 0.125% cheaper against Deribit than usual: you would sell low and buy high (spread +0.197% now, against its 7-day average of +0.322%). If the spread goes back, that is −$13 on $10k: about 5 hours of funding at the current rate (+$59 a day). At the pace of the last 6 days (+0.961% in total) that is about 19 hours.
The current funding rate is far above what this pair has been paying: over the last 6 days it paid 0.961% in total (about 58.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.45 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 | Deribit FET_USDC-PERPETUAL | 0.2032 | −0.2694 | get 0.0337% / 1h | 31m 20s | $42K | $313K | 10x |
| Short | Coinbase International FET-PERP-INTX | 0.2036 | −0.0736 | pay 0.0092% / 1h | 31m 20s | $143K | $275K | 50x |
Deribit FET_USDC-PERPETUAL
Coinbase International FET-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Deribit. 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
- $411.19
- Price spread: +0.197% → +0.322%
- −$12.54
- Slippage, 4 orders
- −$114.13
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $267.52
- Costs to cover
- 1.311%
- Break-even
- 2.4 days
Slippage from Deribit: live order book, 2 min ago; Coinbase International: live order book, 2 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 Deribit live order book, 2 min ago | 7.37 bp | 10.9 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 2 min ago | 7.38 bp | 54.7 bp −$55 | doesn't fit | doesn't fit | doesn't fit |
FET on 20 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit FET_USDC-PERPETUALlong | −0.2694% | 1h | 0.2032 | long leg | $42K | $313K | 10x | |
| Coinbase International FET-PERP-INTXshort | −0.0736% | 1h | 0.2036 | +0.197% | $143K | $275K | 50x | |
| Kraken Futures PF_FETUSD | −0.0303% | 1h | 0.2035 | +0.157% | $1.0M | $2.1M | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0004% | 1h | 0.2031 | −0.025% | $20K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | −1.083% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2033 | +0.036% | $189K | $753K | 10x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.2031 | −0.049% | $2.8M | $12.1M | 50x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2034 | +0.098% | $10.5M | $17.7M | 50x | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.2046 | +0.697% | $289K | $555K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2032 | 0.000% | $36K | $11K | 10x | as long as short |
Kraken Futures PF_FETUSD
gTrade (Gains Network) FET/USD
Injective FET/USDC PERP
Aster FETUSDT
Gate FET_USDT
KuCoin FETUSDTM
Variational Omni FET
Orderly PERP_FET_USDCShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget FETUSDT | +0.0109% | 8h | 0.2035 | +0.148% | $16.7M | $11.7M | 75x | as long as short |
| Extended FET-USD | +0.0128% | 1h | 0.2032 | +0.004% | $30K | $202K | 10x | as long as short |
| Binance FETUSDT | +0.0130% | 8h | 0.2033 | +0.034% | $31.0M | $112.1M | 75x | as long as short |
| MEXC FET_USDT | +0.0131% | 8h | 0.2032 | 0.000% | $30.2M | $25.1M | 200x | as long as short |
| BingX FET-USDT | +0.0135% | 8h | 0.2032 | 0.000% | — | $5.9M | — | as long as short |
| OKX FET-USDT-SWAP | +0.0179% | 4h | 0.2033 | +0.049% | $1.0M | $8.0M | 20x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0202% / S −0.0301% | 1h | 0.2025 | −0.337% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0254% | 8h | 0.2037 | +0.246% | $1.7M | $3.3M | 100x | as long as short |
| Phoenix FET | +0.0594% | 1h | 0.2037 | +0.226% | $35K | $35K | 5x | as long as short |
| Hyperliquid FET | +0.0785% | 1h | 0.2034 | +0.123% | $8.6M | $8.5M | 5x | as long as short |
Bitget FETUSDT
Extended FET-USD
Binance FETUSDT
MEXC FET_USDT
BingX FET-USDT
OKX FET-USDT-SWAP
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
Phoenix FET
Hyperliquid FET