Funding you earn now, next payment 09:00 UTC−0.1101%/8h= −120.5% APRnext payment −$1.38 per $10,000 · paid last 24h −0.250%
Price spread now: Coinbase International against Phoenix+0.114%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.529%−$53 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Coinbase International is 0.114% dearer against Phoenix than usual: you sell high and buy low (spread +0.114% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$33 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−0.529% in total) that is about 36 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.529% in total (about -27.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.38 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix FET | 0.2105 | 0.0453 | pay 0.0057% / 1h | 0m 47s | $36K | $35K | 5x |
| Short | Coinbase International FET-PERP-INTX | 0.2107 | −0.0648 | pay 0.0081% / 1h | 0m 47s | $149K | $272K | 50x |
Phoenix FET
Coinbase International FET-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$231.17
- Price spread: +0.114% → 0.000%
- $11.4
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$236.76
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Coinbase International: live order book, 50 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 Coinbase International live order book, 50 min ago | 4.78 bp | 68.4 bp −$68 | doesn't fit | doesn't fit | doesn't fit |
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 exchanges
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 | −0.4961% | 1h | 0.2100 | −0.219% | $33K | $324K | 10x | as long as short |
| Coinbase International FET-PERP-INTXshort | −0.0648% | 1h | 0.2107 | +0.114% | $149K | $272K | 50x | |
| Kraken Futures PF_FETUSD | −0.0017% | 1h | 0.2101 | −0.165% | $1.1M | $2.0M | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0003% | 1h | 0.2098 | −0.298% | $10K | — | 150x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2102 | −0.119% | $163K | $749K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2103 | −0.076% | $32.5M | $111.1M | 75x | as long as short |
| OKX FET-USDT-SWAP | +0.0100% | 4h | 0.2103 | −0.076% | $1.1M | $7.8M | 20x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.2102 | −0.124% | $3.0M | $12.8M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2103 | −0.076% | $30.9M | $26.2M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2100 | −0.219% | $11.3M | $17.2M | 50x | as long as short |
Deribit FET_USDC-PERPETUAL
Kraken Futures PF_FETUSD
gTrade (Gains Network) FET/USD
Aster FETUSDT
Binance FETUSDT
OKX FET-USDT-SWAP
Gate FET_USDT
MEXC FET_USDT
KuCoin FETUSDTMShow all 20 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget FETUSDT | +0.0100% | 8h | 0.2103 | −0.076% | $16.8M | $12.2M | 75x | as long as short |
| BingX FET-USDT | +0.0100% | 8h | 0.2102 | −0.124% | — | $5.8M | — | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.2105 | +0.019% | $315K | $561K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2099 | −0.266% | $37K | $11K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2100 | −0.207% | $35K | $210K | 10x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0199% / S −0.0277% | 1h | 0.2099 | −0.277% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2098 | −0.314% | $1.8M | $3.3M | 100x | as long as short |
| Phoenix FETlong | +0.0453% | 1h | 0.2105 | long leg | $36K | $35K | 5x | |
| Hyperliquid FET | +0.0480% | 1h | 0.2107 | +0.090% | $9.4M | $7.8M | 5x | as long as short |
| Injective FET/USDC PERP | +0.2505% | 1h | 0.2100 | −0.219% | $2K | $166K | 12x | as long as short |
Bitget FETUSDT
BingX FET-USDT
Variational Omni FET
Orderly PERP_FET_USDC
Extended FET-USD
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
Hyperliquid FET
Injective FET/USDC PERP