Funding you earn now, next payment 22:00 UTC−0.0289%/8h= −31.7% APRpaid last 24h −0.083%
Price spread now: BingX against Phoenix−0.352%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−0.180%−$18 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and BingX is 0.352% cheaper against Phoenix than usual: you would sell low and buy high (−$35 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 -0.180% in total (about -9.4% a year). A funding rate is set anew for every payment. 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 FET | 0.2019 | 0.0599 | pay 0.0075% / 1h | 18m 51s | $27K | $36K | 5x |
| Short | BingX FET-USDT | 0.2012 | 0.0310 | get 0.0310% / 8h | 1h 18m | — | $5.6M | — |
Phoenix FET
BingX FET-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX 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
- −$60.72
- Price spread: −0.352% → 0.000%
- −$35.16
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$112.88
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; BingX: live order book, 6 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 BingX live order book, 6 min ago | 4.97 bp | 12.8 bp −$13 | 16.3 bp −$163 | 47.5 bp −$4,749 | 343.2 bp −$171.6K |
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 | −0.3215% | 1h | 0.2013 | −0.302% | $27K | $200K | 10x | as long as short |
| Coinbase International FET-PERP-INTX | −0.0744% | 1h | 0.2017 | −0.104% | $151K | $201K | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0012% | 1h | 0.2013 | −0.297% | $32K | — | 150x | as long as short |
| Gate FET_USDT | +0.0062% | 8h | 0.2011 | −0.401% | $2.7M | $11.9M | 50x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2015 | −0.217% | $342K | $535K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2013 | −0.302% | $31.5M | $107.6M | 75x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2013 | −0.302% | $34.5M | $25.1M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2012 | −0.352% | $10.5M | $19.1M | 50x | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.2015 | −0.191% | $274K | $317K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2012 | −0.352% | $37K | $5K | 10x | as long as short |
Deribit FET_USDC-PERPETUAL
Coinbase International FET-PERP-INTX
gTrade (Gains Network) FET/USD
Gate FET_USDT
Aster FETUSDT
Binance FETUSDT
MEXC 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 | |
|---|---|---|---|---|---|---|---|---|
| Extended FET-USD | +0.0104% | 1h | 0.2013 | −0.323% | $34K | $190K | 10x | as long as short |
| Hyperliquid FET | +0.0171% | 1h | 0.2015 | −0.183% | $8.9M | $7.9M | 5x | as long as short |
| OKX FET-USDT-SWAP | +0.0173% | 4h | 0.2014 | −0.253% | $853K | $7.5M | 20x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2012 | −0.328% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2015 | −0.203% | $1.7M | $2.6M | 100x | as long as short |
| BingX FET-USDTshort | +0.0310% | 8h | 0.2012 | −0.352% | — | $5.6M | — | |
| Bitget FETUSDT | +0.0333% | 8h | 0.2015 | −0.203% | $16.3M | $11.5M | 75x | as long as short |
| Kraken Futures PF_FETUSD | +0.0360% | 1h | 0.2015 | −0.224% | $1.0M | $2.2M | 50x | as long as short |
| Injective FET/USDC PERP | +0.0553% | 1h | 0.2010 | −0.451% | $3K | $166K | 12x | as long as short |
| Phoenix FETlong | +0.0599% | 1h | 0.2019 | long leg | $27K | $36K | 5x |
Extended FET-USD
Hyperliquid FET
OKX FET-USDT-SWAP
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
Bitget FETUSDT
Kraken Futures PF_FETUSD
Injective FET/USDC PERP