Funding you earn now, next payment 02:00 UTC+0.0602%/8h= +65.9% APRnext payment +$0.75 per $10,000 · paid last 24h +0.203%
Price spread now: Phoenix against Injective+0.051%112s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+1.073%+$107 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Phoenix is 0.051% dearer against Injective than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 112 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 | Injective COIN/USDC PERP | 197.53 | −0.0440 | get 0.0055% / 1h | 1m 25s | $44K | $48K | 30x |
| Short | Phoenix COIN | 197.63 | 0.0162 | get 0.0020% / 1h | 1m 25s | $5K | $281K | 10x |
Injective COIN/USDC PERP
Phoenix COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Injective. 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
- $126.41
- Price spread: +0.051% → 0.000%
- $5.06
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $124.46
- Costs to cover
- 0.070%
- Break-even
- 0.1 days
Slippage unknown: Injective: no order-book sample; Phoenix: live order book, 56 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 Injective no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 56 min ago | 4.56 bp | 13.9 bp −$14 | 30.6 bp −$306 | doesn't fit | doesn't fit |
Injective: 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.
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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget COINUSDT | −0.0638% | 8h | 197.80 | +0.137% | $6.3M | $10.2M | 20x | as long as short |
| Injective COIN/USDC PERPlong | −0.0440% | 1h | 197.53 | long leg | $44K | $48K | 30x | |
| Gate COIN_USDT | −0.0195% | 8h | 197.80 | +0.137% | $1.2M | $7.1M | 50x | as long as short |
| Vest COIN-USD-PERP | −0.0084% | 1h | 197.22 | −0.157% | — | $284K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 197.72 | +0.098% | $349K | $876K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 197.64 | +0.057% | $117K | $691K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 197.69 | +0.080% | $15.1M | $78.7M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 197.56 | +0.015% | $4.9M | $5.9M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 197.58 | +0.025% | $3.1M | $4.6M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 197.65 | +0.059% | $685K | $1.0M | — | as long as short |
Bitget COINUSDT
Gate COIN_USDT
Vest COIN-USD-PERP
Aster COINUSDT
Extended COIN_24_5-USD
Binance COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
Variational Omni COINShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 197.62 | +0.046% | $16K | $2.2M | 10x | as long as short |
| QFEX COIN-USD | +0.0016% | 1h | 197.66 | +0.066% | $1.3M | $3.3M | 10x | as long as short |
| Lighter COIN | +0.0032% | 1h | 197.53 | +0.001% | $357K | $2.0M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 197.53 | 0.000% | $454K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 197.78 | +0.127% | $15K | $55K | 5x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 197.58 | +0.025% | $15.5M | $13.5M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 197.60 | +0.035% | $127K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 197.62 | +0.046% | $70 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 197.44 | −0.046% | $351K | $2.9M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 197.57 | +0.020% | $995K | $143K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 197.61 | +0.041% | $89K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 197.51 | −0.010% | $571 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 197.59 | +0.028% | $117 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 197.62 | +0.046% | $189K | $391K | 20x | as long as short |
| edgeX COINUSDC | +0.0149% | 4h | 197.54 | +0.007% | $51K | $295K | 10x | as long as short |
| Phoenix COINshort | +0.0162% | 1h | 197.63 | +0.051% | $5K | $281K | 10x |
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
BloFin COIN-USDT
edgeX COINUSDC