Funding you earn now, next payment 02:00 UTC+0.0162%/8h= +17.7% APRnext payment +$0.20 per $10,000 · paid last 24h +0.038%
Price spread now: Phoenix against Extended−0.126%68s7-day average +0.041% · you buy dearer than you sell
Net, funding: paid 7d − costs−$22as 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−$450.455% of the position
Funding, last 7 days+0.237%+$24 on $10k
+Price spread, last 4 days (all we have)−0.185%−$19 · spread now −0.126%, 7d avg +0.041%
=Together, before fees+0.051%+ Points / potential airdropExtended: Active · farm board+$5 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.167% cheaper against Extended than usual: you would sell low and buy high (spread −0.126% now, against its 7-day average of +0.041%). If the spread goes back, that is −$17 on $10k: about 3.4 days of funding at the current rate (+$5 a day). The two prices were read 68 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 | Extended COIN_24_5-USD | 197.57 | 0 | get 0.0000% / 1h | 52m 00s | $119K | $697K | 10x |
| Short | Phoenix COIN | 197.32 | 0.0162 | get 0.0020% / 1h | 52m 00s | $5K | $281K | 10x |
Extended COIN_24_5-USD
Phoenix COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Extended. 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
- $34.01
- Price spread: −0.126% → +0.041%
- −$16.67
- Slippage, 4 orders
- −$33.5
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$28.15
- Costs to cover
- 0.455%
- Break-even
- 12.8 days
Slippage from Extended: live order book, 11 min ago; Phoenix: live order book, 6 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 Extended live order book, 11 min ago | 1.01 bp | 8.9 bp −$9 | 56.4 bp −$564 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 6 min ago | 4.56 bp | 13.9 bp −$14 | 30.6 bp −$306 | doesn't fit | doesn't fit |
COIN on 25 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget COINUSDT | −0.0722% | 8h | 197.70 | +0.066% | $6.3M | $10.1M | 20x | as long as short |
| Injective COIN/USDC PERP | −0.0440% | 1h | 196.69 | −0.445% | $43K | $48K | 30x | as long as short |
| Gate COIN_USDT | −0.0138% | 8h | 197.64 | +0.036% | $1.2M | $7.0M | 50x | as long as short |
| Vest COIN-USD-PERP | −0.0088% | 1h | 197.13 | −0.222% | — | $284K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 197.77 | +0.100% | $349K | $877K | 20x | as long as short |
| Extended COIN_24_5-USDlong | 0.0000% | 1h | 197.57 | long leg | $119K | $697K | 10x | |
| Binance COINUSDT | 0.0000% | 8h | 197.60 | +0.016% | $15.1M | $78.2M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 197.62 | +0.026% | $4.9M | $5.9M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 197.63 | +0.031% | $3.1M | $4.6M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 197.59 | +0.010% | $817K | $905K | — | as long as short |
Bitget COINUSDT
Injective COIN/USDC PERP
Gate COIN_USDT
Vest COIN-USD-PERP
Aster COINUSDT
Binance COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
Variational Omni COINShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 197.39 | −0.089% | $14K | $2.1M | 10x | as long as short |
| QFEX COIN-USD | +0.0016% | 1h | 197.62 | +0.026% | $1.3M | $3.5M | 10x | as long as short |
| Lighter COIN | +0.0032% | 1h | 197.58 | +0.004% | $368K | $2.0M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 197.57 | +0.001% | $450K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 197.47 | −0.050% | $15K | $54K | 5x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 197.54 | −0.014% | $15.7M | $13.3M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 197.44 | −0.065% | $125K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 197.53 | −0.020% | $91 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 197.22 | −0.176% | $350K | $3.0M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 197.56 | −0.004% | $995K | $143K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 197.36 | −0.106% | $89K | $286K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 197.56 | −0.004% | $571 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 197.57 | 0.000% | $117 | — | 10x | as long as short |
| Phoenix COINshort | +0.0162% | 1h | 197.32 | −0.126% | $5K | $281K | 10x | |
| edgeX COINUSDC | +0.0312% | 4h | 197.38 | −0.094% | $51K | $294K | 10x | as long as short |
GRVT COIN_USDT_Perp
QFEX COIN-USD
Lighter COIN
Lighter RH COIN
Arcus COIN-USD
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
SoDEX COIN-USD
Ondo Perps COIN-USD.P
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
edgeX COINUSDC