Funding you earn now, next payment 05:00 UTC−0.0186%/8h= −20.4% APRnext payment −$0.23 per $10,000 · paid last 24h −0.056%
Price spread now: Kraken Futures against Phoenix−0.169%71s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.140%−$14 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 −$6 a day on $10k at the current rate, and Kraken Futures is 0.169% cheaper against Phoenix than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 71 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 | 0.1990 | 0.0649 | pay 0.0081% / 1h | 49m 56s | $34K | $37K | 5x |
| Short | Kraken Futures PF_FETUSD | 0.1987 | 0.0462 | get 0.0058% / 1h | 49m 56s | $969K | $2.2M | 50x |
Phoenix FET
Kraken Futures PF_FETUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- −$39.12
- Price spread: −0.169% → 0.000%
- −$16.91
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$73.04
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Kraken Futures: 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 Kraken Futures live order book, 4 min ago | 10.30 bp | 30.9 bp −$31 | 66.6 bp −$666 | 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 | −0.3762% | 1h | 0.1986 | −0.201% | $38K | $298K | 10x | as long as short |
| Coinbase International FET-PERP-INTX | −0.1152% | 1h | 0.1990 | 0.000% | $148K | $258K | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0004% | 1h | 0.1985 | −0.251% | $20K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | +1.005% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.1984 | −0.282% | $190K | $809K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.1986 | −0.211% | $30.2M | $114.8M | 75x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.1985 | −0.251% | $2.6M | $12.7M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.1985 | −0.251% | $29.7M | $24.9M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.1987 | −0.151% | $10.4M | $18.6M | 50x | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.1987 | −0.143% | $273K | $479K | — | 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 | 0.1985 | −0.251% | $37K | $7K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.1985 | −0.233% | $33K | $201K | 10x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0301% | 1h | 0.1985 | −0.227% | $13K | — | 100x | as long as short |
| BingX FET-USDT | +0.0203% | 8h | 0.1986 | −0.201% | — | $6.0M | — | as long as short |
| Bitget FETUSDT | +0.0214% | 8h | 0.1987 | −0.151% | $16.0M | $11.8M | 75x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.1991 | +0.050% | $1.7M | $3.2M | 100x | as long as short |
| OKX FET-USDT-SWAP | +0.0369% | 4h | 0.1987 | −0.151% | $985K | $8.1M | 20x | as long as short |
| Kraken Futures PF_FETUSDshort | +0.0462% | 1h | 0.1987 | −0.169% | $969K | $2.2M | 50x | |
| Phoenix FETlong | +0.0649% | 1h | 0.1990 | long leg | $34K | $37K | 5x | |
| Hyperliquid FET | +0.0871% | 1h | 0.1987 | −0.155% | $8.5M | $8.4M | 5x | as long as short |
Orderly PERP_FET_USDC
Extended FET-USD
GMX FET/USD [ETH-USDC]
BingX FET-USDT
Bitget FETUSDT
BloFin FET-USDT
OKX FET-USDT-SWAP
Hyperliquid FET