Funding you earn now, next payment 07:00 UTC−0.0497%/8h= −54.5% APRpaid last 24h −0.100%
Price spread now: Orderly against Phoenix−0.334%54s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+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 −$15 a day on $10k at the current rate, and Orderly is 0.334% cheaper against Phoenix than usual: you would sell low and buy high (−$33 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 54 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 | 0.2009 | 0.0597 | pay 0.0075% / 1h | 19m 29s | $35K | $37K | 5x |
| Short | Orderly PERP_FET_USDC | 0.2002 | 0.0100 | get 0.0100% / 8h | 19m 29s | $36K | $11K | 10x |
Phoenix FET
Orderly PERP_FET_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$104.46
- Price spread: −0.334% → 0.000%
- −$33.35
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$150.82
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Orderly: 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 Orderly no order-book sample | — | — | — | — | — |
Phoenix and Orderly: 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 | −0.4223% | 1h | 0.2003 | −0.284% | $41K | $313K | 10x | as long as short |
| Coinbase International FET-PERP-INTX | −0.0792% | 1h | 0.2011 | +0.115% | $151K | $261K | 50x | as long as short |
| Kraken Futures PF_FETUSD | −0.0011% | 1h | 0.2007 | −0.106% | $990K | $2.1M | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0004% | 1h | 0.2007 | −0.072% | $20K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | +0.065% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2008 | −0.035% | $186K | $752K | 10x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.2005 | −0.184% | $2.7M | $12.8M | 50x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2008 | −0.035% | $10.4M | $17.9M | 50x | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.2004 | −0.227% | $274K | $524K | — | as long as short |
| Orderly PERP_FET_USDCshort | +0.0100% | 8h | 0.2002 | −0.334% | $36K | $11K | 10x |
Deribit FET_USDC-PERPETUAL
Coinbase International FET-PERP-INTX
Kraken Futures PF_FETUSD
gTrade (Gains Network) FET/USD
Injective FET/USDC PERP
Aster FETUSDT
Gate FET_USDT
KuCoin FETUSDTM
Variational Omni FETShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended FET-USD | +0.0120% | 1h | 0.2006 | −0.112% | $37K | $201K | 10x | as long as short |
| MEXC FET_USDT | +0.0123% | 8h | 0.2009 | +0.015% | $29.7M | $25.1M | 200x | as long as short |
| Binance FETUSDT | +0.0124% | 8h | 0.2011 | +0.101% | $30.7M | $111.9M | 75x | as long as short |
| Bitget FETUSDT | +0.0138% | 8h | 0.2010 | +0.065% | $16.4M | $11.7M | 75x | as long as short |
| BingX FET-USDT | +0.0141% | 8h | 0.2008 | −0.035% | — | $5.9M | — | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0301% | 1h | 0.2003 | −0.269% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0243% | 8h | 0.2005 | −0.184% | $1.7M | $3.2M | 100x | as long as short |
| OKX FET-USDT-SWAP | +0.0283% | 4h | 0.2010 | +0.065% | $1.0M | $8.0M | 20x | as long as short |
| Phoenix FETlong | +0.0597% | 1h | 0.2009 | long leg | $35K | $37K | 5x | |
| Hyperliquid FET | +0.0622% | 1h | 0.2010 | +0.075% | $8.4M | $8.5M | 5x | as long as short |
Extended FET-USD
MEXC FET_USDT
Binance FETUSDT
Bitget FETUSDT
BingX FET-USDT
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
OKX FET-USDT-SWAP
Hyperliquid FET