Funding you earn now, next payment 00:00 UTC−0.0434%/8h= −47.5% APRnext payment −$0.54 per $10,000 · paid last 24h −0.048%
Price spread now: Injective against Phoenix−2.729%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−0.042%−$4 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 −$13 a day on $10k at the current rate, and Injective is 2.729% cheaper against Phoenix than usual: you would sell low and buy high (−$273 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 -0.042% in total (about -2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.54 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 | Phoenix FET | 0.2066 | 0.0467 | pay 0.0058% / 1h | 34m 47s | $36K | $45K | 5x |
| Short | Injective FET/USDC PERP | 0.2010 | 0.0033 | get 0.0004% / 1h | 34m 47s | $3K | $166K | 12x |
Phoenix FET
Injective FET/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$91.15
- Price spread: −2.729% → 0.000%
- −$272.94
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$371.11
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Injective: 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Injective no order-book sample | — | — | — | — | — |
Phoenix and Injective: 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 | −0.2164% | 1h | 0.2066 | −0.019% | $40K | $213K | 10x | as long as short |
| Kraken Futures PF_FETUSD | −0.1252% | 1h | 0.2066 | −0.002% | $1.0M | $2.2M | 50x | as long as short |
| Coinbase International FET-PERP-INTX | −0.0704% | 1h | 0.2068 | +0.077% | $154K | $209K | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0013% | 1h | 0.2065 | −0.087% | $32K | — | 150x | as long as short |
| Injective FET/USDC PERPshort | +0.0033% | 1h | 0.2010 | −2.729% | $3K | $166K | 12x | |
| Aster FETUSDT | +0.0100% | 8h | 0.2064 | −0.102% | $343K | $542K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2070 | +0.174% | $32.4M | $110.1M | 75x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.2068 | +0.077% | $2.8M | $12.1M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2067 | +0.029% | $35.0M | $24.9M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2070 | +0.174% | $10.9M | $19.2M | 50x | as long as short |
Deribit FET_USDC-PERPETUAL
Kraken Futures PF_FETUSD
Coinbase International FET-PERP-INTX
gTrade (Gains Network) FET/USD
Aster FETUSDT
Binance FETUSDT
Gate FET_USDT
MEXC FET_USDT
KuCoin FETUSDTMShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni FET | +0.0100% | 8h | 0.2065 | −0.059% | $363K | $399K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2064 | −0.116% | $38K | $6K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2066 | +0.005% | $34K | $246K | 10x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0202% / S −0.0278% | 1h | 0.2064 | −0.109% | $14K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2065 | −0.068% | $1.7M | $2.7M | 100x | as long as short |
| BingX FET-USDT | +0.0287% | 8h | 0.2070 | +0.174% | — | $5.7M | — | as long as short |
| Bitget FETUSDT | +0.0301% | 8h | 0.2072 | +0.271% | $16.7M | $11.5M | 75x | as long as short |
| OKX FET-USDT-SWAP | +0.0304% | 4h | 0.2073 | +0.319% | $1.1M | $8.1M | 20x | as long as short |
| Hyperliquid FET | +0.0389% | 1h | 0.2072 | +0.271% | $9.3M | $8.1M | 5x | as long as short |
| Phoenix FETlong | +0.0467% | 1h | 0.2066 | long leg | $36K | $45K | 5x |
Variational Omni FET
Orderly PERP_FET_USDC
Extended FET-USD
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
BingX FET-USDT
Bitget FETUSDT
OKX FET-USDT-SWAP
Hyperliquid FET