Funding you earn now, next payment 05:00 UTC+0.0165%/8h= +18.1% APRnext payment +$0.21 per $10,000 · paid last 24h −0.006%
Price spread now: Hyperliquid against Phoenix+0.588%81s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.093%−$9 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 for this trade now. Funding pays +$5 a day on $10k at the current rate, and Hyperliquid is 0.588% dearer against Phoenix than usual: you sell high and buy low: +$59 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.093%, so the current rate has only just turned in your favour. The two prices were read 81 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 FET | 0.1991 | 0.0649 | pay 0.0081% / 1h | 17m 56s | $34K | $37K | 5x |
| Short | Hyperliquid FET | 0.2003 | 0.0814 | get 0.0102% / 1h | 17m 56s | $8.5M | $8.4M | 5x |
Phoenix FET
Hyperliquid FETFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- $34.62
- Price spread: +0.588% → 0.000%
- $58.76
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $77.38
- Costs to cover
- 0.160%
- Break-even
- from the start
Slippage unknown: Phoenix: no order-book sample; Hyperliquid: live order book, 4 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 Hyperliquid live order book, 4 min ago | 0.25 bp | 10.2 bp −$10 | 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 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 | −0.1246% | 1h | 0.2003 | +0.588% | $41K | $311K | 10x | as long as short |
| Coinbase International FET-PERP-INTX | −0.1152% | 1h | 0.2005 | +0.688% | $150K | $261K | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0004% | 1h | 0.2001 | +0.466% | $20K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | +0.939% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2003 | +0.598% | $191K | $816K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2003 | +0.595% | $30.6M | $114.6M | 75x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.1999 | +0.387% | $2.6M | $12.8M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2001 | +0.487% | $29.6M | $25.1M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2002 | +0.537% | $10.4M | $18.4M | 50x | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.1991 | −0.007% | $273K | $480K | — | as long as short |
Deribit FET_USDC-PERPETUAL
Coinbase International FET-PERP-INTX
gTrade (Gains Network) FET/USD
Injective FET/USDC PERP
Aster FETUSDT
Binance FETUSDT
Gate FET_USDT
MEXC FET_USDT
KuCoin FETUSDTM
Variational Omni FETShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2002 | +0.537% | $38K | $7K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2002 | +0.523% | $33K | $198K | 10x | as long as short |
| BingX FET-USDT | +0.0191% | 8h | 0.2003 | +0.588% | — | $6.0M | — | as long as short |
| Bitget FETUSDT | +0.0193% | 8h | 0.2003 | +0.588% | $16.2M | $11.9M | 75x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0301% | 1h | 0.2000 | +0.435% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.1999 | +0.387% | $1.7M | $3.2M | 100x | as long as short |
| OKX FET-USDT-SWAP | +0.0408% | 4h | 0.2005 | +0.688% | $993K | $8.2M | 20x | as long as short |
| Kraken Futures PF_FETUSD | +0.0458% | 1h | 0.2006 | +0.721% | $1.0M | $2.2M | 50x | as long as short |
| Phoenix FETlong | +0.0649% | 1h | 0.1991 | long leg | $34K | $37K | 5x | |
| Hyperliquid FETshort | +0.0814% | 1h | 0.2003 | +0.588% | $8.5M | $8.4M | 5x |
Orderly PERP_FET_USDC
Extended FET-USD
BingX FET-USDT
Bitget FETUSDT
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
OKX FET-USDT-SWAP
Kraken Futures PF_FETUSD