Funding you earn now, next payment 08:00 UTC−0.0143%/8h= −15.6% APRnext payment −$0.18 per $10,000 · paid last 24h −0.001%
Price spread now: Phoenix against Hyperliquid−0.492%101s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.098%+$10 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Phoenix is 0.492% cheaper against Hyperliquid than usual: you would sell low and buy high (−$49 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.098%, so the current rate has only just turned against you. The two prices were read 101 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 | Hyperliquid FET | 0.2094 | 0.0736 | pay 0.0092% / 1h | 15m 50s | $8.9M | $8.4M | 5x |
| Short | Phoenix FET | 0.2083 | 0.0594 | get 0.0074% / 1h | 15m 50s | $36K | $35K | 5x |
Hyperliquid FET
Phoenix FETFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Hyperliquid. 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
- −$29.99
- Price spread: −0.492% → 0.000%
- −$49.2
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$95.18
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 6 min ago; Phoenix: no order-book sample. 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 Hyperliquid live order book, 6 min ago | 1.44 bp | 12.5 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
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.
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-PERPETUAL | −0.1663% | 1h | 0.2087 | −0.315% | $43K | $323K | 10x | as long as short |
| Coinbase International FET-PERP-INTX | −0.0736% | 1h | 0.2089 | −0.220% | $144K | $283K | 50x | as long as short |
| Kraken Futures PF_FETUSD | −0.0295% | 1h | 0.2090 | −0.151% | $1.1M | $2.1M | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0004% | 1h | 0.2079 | −0.720% | $21K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2100 | +0.306% | $2K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2090 | −0.172% | $190K | $758K | 10x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.2089 | −0.220% | $2.9M | $12.3M | 50x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2090 | −0.172% | $10.8M | $17.7M | 50x | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.2087 | −0.306% | $301K | $580K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2085 | −0.411% | $37K | $12K | 10x | as long as short |
Deribit FET_USDC-PERPETUAL
Coinbase International FET-PERP-INTX
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 | +0.0104% | 8h | 0.2092 | −0.076% | $17.2M | $11.6M | 75x | as long as short |
| Binance FETUSDT | +0.0123% | 8h | 0.2088 | −0.267% | $31.9M | $111.9M | 75x | as long as short |
| MEXC FET_USDT | +0.0124% | 8h | 0.2090 | −0.172% | $29.8M | $25.5M | 200x | as long as short |
| BingX FET-USDT | +0.0126% | 8h | 0.2090 | −0.172% | — | $5.9M | — | as long as short |
| Extended FET-USD | +0.0128% | 1h | 0.2087 | −0.294% | $32K | $204K | 10x | as long as short |
| OKX FET-USDT-SWAP | +0.0150% | 4h | 0.2088 | −0.267% | $1.1M | $8.1M | 20x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0203% / S −0.0301% | 1h | 0.2079 | −0.718% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0244% | 8h | 0.2079 | −0.697% | $1.5M | $3.4M | 100x | as long as short |
| Phoenix FETshort | +0.0594% | 1h | 0.2083 | −0.492% | $36K | $35K | 5x | |
| Hyperliquid FETlong | +0.0736% | 1h | 0.2094 | long leg | $8.9M | $8.4M | 5x |
Bitget FETUSDT
Binance FETUSDT
MEXC FET_USDT
BingX FET-USDT
Extended FET-USD
OKX FET-USDT-SWAP
GMX FET/USD [ETH-USDC]
BloFin FET-USDT