Funding you earn now, next payment 04:00 UTC−0.0071%/8h= −7.8% APRnext payment −$0.09 per $10,000 · paid last 24h −0.054%
Price spread now: Ondo Perps against Phoenix−0.112%108s7-day average −0.083% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.193%−$19 on $10k
+Price spread, last 4 days (all we have)+0.108%+$11 · spread now −0.112%, 7d avg −0.083%
=Together, before fees−0.086%+ Points / potential airdropOndo Perps: Active · farm board−$9 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Ondo Perps is 0.029% cheaper against Phoenix than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.083%). Swap the legs. The two prices were read 108 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 | Phoenix COIN | 196.84 | 0.0122 | pay 0.0015% / 1h | 39m 40s | $4K | $283K | 10x |
| Short | Ondo Perps COIN-USD.P | 196.62 | 0.0050 | get 0.0006% / 1h | 39m 40s | $350K | $2.7M | 10x |
Phoenix COIN
Ondo Perps COIN-USD.PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Ondo Perps 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
- −$14.95
- Price spread: −0.112% → −0.083%
- −$2.93
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Net
- −$29.88
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 8 min ago; Ondo Perps: no order-book sample. 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 Phoenix live order book, 8 min ago | 3.05 bp | 10.8 bp −$11 | 22.2 bp −$222 | doesn't fit | doesn't fit |
| Sell Ondo Perps no order-book sample | — | — | — | — | — |
Ondo Perps: 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 | −0.0690% | 8h | 196.86 | +0.010% | $6.3M | $10.4M | 20x | as long as short |
| Injective COIN/USDC PERP | −0.0440% | 1h | 196.82 | −0.010% | $43K | $48K | 30x | as long as short |
| Gate COIN_USDT | −0.0226% | 8h | 196.84 | 0.000% | $1.2M | $7.3M | 50x | as long as short |
| Vest COIN-USD-PERP | −0.0110% | 1h | 196.22 | −0.315% | — | $266K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 196.83 | −0.006% | $343K | $890K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 196.75 | −0.046% | $117K | $689K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 196.78 | −0.029% | $14.7M | $79.9M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 196.82 | −0.010% | $4.8M | $6.0M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 196.78 | −0.030% | $3.0M | $4.6M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 196.74 | −0.051% | $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 | −0.037% | $10K | $2.4M | 10x | as long as short |
| QFEX COIN-USD | +0.0020% | 1h | 196.72 | −0.061% | $1.3M | $3.2M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 196.68 | −0.081% | $451K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 196.94 | +0.051% | $15K | $55K | 5x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 196.61 | −0.117% | $15.4M | $13.6M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 196.60 | −0.122% | $134K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 196.73 | −0.056% | $79 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.Pshort | +0.0050% | 1h | 196.62 | −0.112% | $350K | $2.7M | 10x | |
| edgeX COINUSDC | +0.0061% | 4h | 196.73 | −0.057% | $51K | $294K | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 196.74 | −0.051% | $992K | $143K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 196.98 | +0.071% | $89K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 196.73 | −0.056% | $569 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 196.76 | −0.040% | $116 | — | 10x | as long as short |
| Lighter COIN | +0.0112% | 1h | 196.71 | −0.069% | $340K | $2.0M | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 196.79 | −0.025% | $188K | $393K | 20x | as long as short |
| Phoenix COINlong | +0.0122% | 1h | 196.84 | long leg | $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
edgeX COINUSDC
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
Lighter COIN
BloFin COIN-USDT