Funding you earn now, next payment 19:00 UTC−0.0297%/8hpaid last 24h −0.089%
Price spread now: Variational Omni against Phoenix−0.075%99s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Variational Omni is 0.075% cheaper against Phoenix than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 99 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 | 0.2011 | 0.0397 | pay 0.0050% / 1h | 5m 39s | $27K | $54K | 5x |
| Short | Variational Omni FET | 0.2009 | 0.0100 | get 0.0100% / 8h | 4h 05m | $270K | $299K | — |
Phoenix FET
Variational Omni FETFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$62.46
- Price spread: −0.075% → 0.000%
- −$7.51
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$76.97
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Variational Omni: RFQ quote, 27 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 Variational Omni RFQ quote, 27 min ago | 7.53 bp | doesn't fit | 37.7 bp −$377 | 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 | −0.1742% | 1h | 0.2004 | −0.348% | $16K | $219K | 10x | as long as short |
| Gate FET_USDT | −0.0122% | 8h | 0.2000 | −0.547% | $2.7M | $11.7M | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0012% | 1h | 0.2002 | −0.455% | $31K | — | 150x | as long as short |
| Coinbase International FET-PERP-INTX | +0.0064% | 1h | 0.2009 | −0.099% | $180K | $137K | 50x | as long as short |
| Orderly PERP_FET_USDC | +0.0080% | 8h | 0.2002 | −0.448% | $37K | $4K | 10x | as long as short |
| Hyperliquid FET | +0.0100% | 1h | 0.2004 | −0.373% | $9.0M | $6.9M | 5x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2003 | −0.384% | $341K | $519K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2002 | −0.448% | $31.2M | $106.2M | 75x | as long as short |
| OKX FET-USDT-SWAP | +0.0100% | 4h | 0.2004 | −0.348% | $845K | $7.4M | 20x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2002 | −0.448% | $36.6M | $24.4M | 200x | as long as short |
Deribit FET_USDC-PERPETUAL
Gate FET_USDT
gTrade (Gains Network) FET/USD
Coinbase International FET-PERP-INTX
Orderly PERP_FET_USDC
Hyperliquid FET
Aster FETUSDT
Binance FETUSDT
OKX FET-USDT-SWAP
MEXC FET_USDTShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2003 | −0.398% | $10.2M | $18.2M | 50x | as long as short |
| Bitget FETUSDT | +0.0100% | 8h | 0.2005 | −0.298% | $16.3M | $11.3M | 75x | as long as short |
| BingX FET-USDT | +0.0100% | 8h | 0.2002 | −0.448% | — | $5.5M | — | as long as short |
| Variational Omni FETshort | +0.0100% | 8h | 0.2009 | −0.075% | $270K | $299K | — | |
| Extended FET-USD | +0.0104% | 1h | 0.2003 | −0.413% | $32K | $144K | 10x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2002 | −0.443% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2003 | −0.398% | $1.7M | $2.5M | 100x | as long as short |
| Phoenix FETlong | +0.0397% | 1h | 0.2011 | long leg | $27K | $54K | 5x | |
| Kraken Futures PF_FETUSD | +0.0421% | 1h | 0.2004 | −0.367% | $1.1M | $2.1M | 50x | as long as short |
| Injective FET/USDC PERP | +0.1604% | 1h | 0.2000 | −0.547% | $3K | $94K | 12x | as long as short |
KuCoin FETUSDTM
Bitget FETUSDT
BingX FET-USDT
Extended FET-USD
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
Kraken Futures PF_FETUSD
Injective FET/USDC PERP