Funding you earn now, next payment 01:00 UTC−0.1457%/8h= −159.5% APRpaid last 24h +0.718%
Price spread now: BingX against Phoenix+0.183%49s7-day average +0.231% · you sell dearer than you buy
Net, funding: paid 7d − costs−$267as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$3333.331% of the position
Funding, last 7 days+0.664%+$66 on $10k
+Price spread, last 4 days (all we have)+1.426%+$143 · spread now +0.183%, 7d avg +0.231%
=Both sides work against this trade now: funding costs −$44 a day on $10k at the current rate, and BingX is 0.048% cheaper against Phoenix than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.231%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.664%, so the current rate has only just turned against you. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.664% in total (about 34.6% a year). A funding rate is set anew for every payment. 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 STONK | 0.3714 | 0.1557 | pay 0.0195% / 1h | 56m 32s | $211K | $256K | 3x |
| Short | BingX STONK-USDT | 0.3721 | 0.0100 | get 0.0050% / 4h | 1h 56m | — | $920K | — |
Phoenix STONK
BingX STONK-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX 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
- −$305.89
- Price spread: +0.183% → +0.231%
- −$4.78
- Slippage, 4 orders
- −$316.1
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$643.77
- Costs to cover
- 3.331%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 66 min ago; BingX: live order book, 3 min ago.
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 live order book, 66 min ago | 47.61 bp | 132.4 bp −$132 | 352.2 bp −$3,522 | doesn't fit | doesn't fit |
| Sell BingX live order book, 3 min ago | 6.71 bp | 43.3 bp −$43 | 225.4 bp −$2,254 | 989.4 bp −$98.9K | 1255.6 bp −$627.8K |
STONK on 8 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 | |
|---|---|---|---|---|---|---|---|---|
| MEXC STONK_USDT | −0.0406% | 4h | 0.3722 | +0.202% | $874K | $1.0M | 20x | as long as short |
| Bybit STONKUSDT | +0.0100% | 4h | 0.3725 | +0.291% | $1.7M | $6.7M | 5x | as long as short |
| Gate STONK_USDT | +0.0100% | 4h | 0.3742 | +0.759% | $924K | $1.7M | 10x | as long as short |
| Bitget STONKUSDT | +0.0100% | 4h | 0.3724 | +0.253% | $374K | $2.5M | 10x | as long as short |
| BingX STONK-USDTshort | +0.0100% | 4h | 0.3721 | +0.183% | — | $920K | — | |
| Aster STONKUSDT | +0.0733% | 1h | 0.3720 | +0.166% | $509K | $1.1M | 10x | as long as short |
| Phoenix STONKlong | +0.1557% | 1h | 0.3714 | long leg | $211K | $256K | 3x | |
| Lighter STONK | +0.5024% | 1h | 0.3736 | +0.590% | $447K | $532K | 5x | as long as short |
MEXC STONK_USDT
Bybit STONKUSDT
Gate STONK_USDT
Bitget STONKUSDT
Aster STONKUSDT
Lighter STONK