Funding you earn now, next payment 07:00 UTC+0.0163%/8h= +17.9% APRpaid last 24h −0.003%
Price spread now: Phoenix against Gate−0.066%62s7-day average −0.003% · you buy dearer than you sell
Net, funding: paid 7d − costs−$44as 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−$530.533% of the position
Funding, last 7 days+0.098%+$10 on $10k
+Price spread, last 4 days (all we have)−0.278%−$28 · spread now −0.066%, 7d avg −0.003%
=Funding pays, the price is against you. Phoenix is 0.064% cheaper against Gate than usual: you would sell low and buy high (spread −0.066% now, against its 7-day average of −0.003%). If the spread goes back, that is −$6 on $10k: about 31 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.098% in total) that is about 4.5 days. The two prices were read 62 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 | Gate COIN_USDT | 195.66 | 0 | get 0.0000% / 8h | 10m 23s | $1.2M | $7.4M | 50x |
| Short | Phoenix COIN | 195.53 | 0.0163 | get 0.0020% / 1h | 10m 23s | $4K | $283K | 10x |
Gate COIN_USDT
Phoenix COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Gate. 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
- $34.33
- Price spread: −0.066% → −0.003%
- −$6.35
- Slippage, 4 orders
- −$31.31
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$25.33
- Costs to cover
- 0.533%
- Break-even
- 12.2 days
Slippage from Gate: live order book, 3 min ago; Phoenix: live order book, 22 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 Gate live order book, 3 min ago | 5.37 bp | 14.5 bp −$15 | 133.0 bp −$1,330 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 22 min ago | 3.58 bp | 11.6 bp −$12 | 24.5 bp −$245 | doesn't fit | doesn't fit |
COIN on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective COIN/USDC PERP | −0.0440% | 1h | 195.56 | −0.051% | $43K | $48K | 30x | as long as short |
| Bitget COINUSDT | −0.0343% | 8h | 195.78 | +0.061% | $6.3M | $10.5M | 20x | as long as short |
| Vest COIN-USD-PERP | −0.0046% | 1h | 195.07 | −0.302% | — | $326K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 195.51 | −0.076% | $341K | $890K | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 195.62 | −0.020% | $4.7M | $6.2M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 195.60 | −0.031% | $3.0M | $4.7M | 20x | as long as short |
| Gate COIN_USDTlong | 0.0000% | 8h | 195.66 | long leg | $1.2M | $7.4M | 50x | |
| Variational Omni COIN | 0.0000% | 8h | 195.51 | −0.076% | $692K | $991K | — | as long as short |
| GRVT COIN_USDT_Perp | +0.0001% | 8h | 195.64 | −0.010% | $15K | $2.9M | 10x | as long as short |
| Extended COIN_24_5-USD | +0.0016% | 1h | 195.56 | −0.050% | $104K | $860K | 10x | as long as short |
Injective COIN/USDC PERP
Bitget COINUSDT
Vest COIN-USD-PERP
Aster COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
Variational Omni COIN
GRVT COIN_USDT_Perp
Extended COIN_24_5-USDShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance COINUSDT | +0.0019% | 8h | 195.65 | −0.005% | $15.0M | $82.1M | 20x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 195.52 | −0.072% | $465K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 195.72 | +0.031% | $17K | $58K | 5x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 195.51 | −0.077% | $15.1M | $13.0M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 195.51 | −0.077% | $135K | $1.4M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 195.58 | −0.041% | $82 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 195.38 | −0.143% | $450K | $2.8M | 10x | as long as short |
| QFEX COIN-USD | +0.0065% | 1h | 195.64 | −0.010% | $1.3M | $2.9M | 10x | as long as short |
| BloFin COIN-USDT | +0.0077% | 8h | 195.57 | −0.046% | $187K | $434K | 20x | as long as short |
| Lighter COIN | +0.0096% | 1h | 195.54 | −0.060% | $364K | $2.3M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 195.45 | −0.107% | $985K | $143K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 195.41 | −0.128% | $88K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 195.60 | −0.031% | $566 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 195.61 | −0.025% | $115 | — | 10x | as long as short |
| Phoenix COINshort | +0.0163% | 1h | 195.53 | −0.066% | $4K | $283K | 10x | |
| edgeX COINUSDC | +0.0443% | 4h | 195.50 | −0.083% | $50K | $296K | 10x | as long as short |
Binance COINUSDT
Lighter RH COIN
Arcus COIN-USD
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
SoDEX COIN-USD
Ondo Perps COIN-USD.P
QFEX COIN-USD
BloFin COIN-USDT
Lighter COIN
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
edgeX COINUSDC