Funding you earn now, next payment 04:00 UTC+0.0022%/8h= +2.4% APRpaid last 24h +0.026%
Price spread now: Phoenix against KuCoin+0.097%7-day average +0.018% · you sell dearer than you buy
Net, funding: paid 7d − costs−$182as in the Funding arb table
Net, price: spread back to 7d avg − costs−$182as in the Price arb table
costs, in and out, $10k−$1901.902% of the position
Funding, last 7 days+0.086%+$9 on $10k
+Price spread, last 4 days (all we have)−0.160%−$16 · spread now +0.097%, 7d avg +0.018%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Phoenix is 0.079% dearer against KuCoin than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.018%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin COINUSDTM | 196.65 | 0.0100 | pay 0.0100% / 8h | 3h 38m | $992K | $143K | 20x |
| Short | Phoenix COIN | 196.84 | 0.0122 | get 0.0015% / 1h | 38m 47s | $4K | $283K | 10x |
KuCoin COINUSDTM
Phoenix COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against KuCoin. 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
- $4.54
- Price spread: +0.097% → +0.018%
- $7.86
- Slippage, 4 orders
- −$171.16
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$177.75
- Costs to cover
- 1.902%
- Break-even
- 281.2 days
Slippage from KuCoin: live order book, 51 min ago; Phoenix: live order book, 9 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 KuCoin live order book, 51 min ago | 16.48 bp | 108.9 bp −$109 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 9 min ago | 3.05 bp | 10.8 bp −$11 | 22.3 bp −$223 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget COINUSDT | −0.0690% | 8h | 196.80 | +0.076% | $6.3M | $10.4M | 20x | as long as short |
| Injective COIN/USDC PERP | −0.0440% | 1h | 196.76 | +0.056% | $43K | $48K | 30x | as long as short |
| Gate COIN_USDT | −0.0226% | 8h | 196.71 | +0.031% | $1.2M | $7.3M | 50x | as long as short |
| Vest COIN-USD-PERP | −0.0110% | 1h | 196.15 | −0.254% | — | $266K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 196.75 | +0.050% | $343K | $890K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 196.64 | −0.003% | $117K | $689K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 196.69 | +0.020% | $14.7M | $79.9M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 196.73 | +0.041% | $4.8M | $6.0M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 196.71 | +0.031% | $3.0M | $4.6M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 196.74 | +0.046% | $684K | $939K | — | as long as short |
Bitget COINUSDT
Injective COIN/USDC PERP
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 | 196.77 | +0.059% | $10K | $2.4M | 10x | as long as short |
| QFEX COIN-USD | +0.0020% | 1h | 196.72 | +0.036% | $1.3M | $3.2M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 196.62 | −0.015% | $451K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 196.94 | +0.147% | $15K | $55K | 5x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 196.50 | −0.076% | $15.4M | $13.6M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 196.68 | +0.015% | $134K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 196.66 | +0.005% | $81 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 196.62 | −0.015% | $350K | $2.7M | 10x | as long as short |
| edgeX COINUSDC | +0.0061% | 4h | 196.73 | +0.040% | $51K | $294K | 10x | as long as short |
| KuCoin COINUSDTMlong | +0.0100% | 8h | 196.65 | long leg | $992K | $143K | 20x | |
| ApeX Omni COINUSDT | +0.0100% | 1h | 196.98 | +0.168% | $89K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 196.64 | −0.005% | $569 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 196.66 | +0.003% | $116 | — | 10x | as long as short |
| Lighter COIN | +0.0112% | 1h | 196.63 | −0.008% | $339K | $2.0M | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 196.73 | +0.041% | $188K | $392K | 20x | as long as short |
| Phoenix COINshort | +0.0122% | 1h | 196.84 | +0.097% | $4K | $283K | 10x |
GRVT COIN_USDT_Perp
QFEX COIN-USD
Lighter RH COIN
Arcus COIN-USD
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
SoDEX COIN-USD
Ondo Perps COIN-USD.P
edgeX COINUSDC
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
Lighter COIN
BloFin COIN-USDT