Funding you earn now, next payment 07:00 UTC−0.0063%/8h= −6.9% APRpaid last 24h −0.032%
Price spread now: Orderly against Phoenix+0.117%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Orderly is 0.117% dearer against Phoenix than usual: you sell high and buy low (spread +0.117% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6.2 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix COIN | 196.17 | 0.0163 | pay 0.0020% / 1h | 47m 27s | $4K | $283K | 10x |
| Short | Orderly PERP_COIN_USDC_mythos | 196.40 | 0.0100 | get 0.0100% / 8h | 47m 27s | $568 | $4K | 10x |
Phoenix COIN
Orderly PERP_COIN_USDC_mythosFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$13.33
- Price spread: +0.117% → 0.000%
- $11.72
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$14.6
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 50 min ago; Orderly: 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, 50 min ago | 3.07 bp | 10.8 bp −$11 | 22.3 bp −$223 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | −0.0459% | 8h | 196.50 | +0.168% | $6.4M | $10.6M | 20x | as long as short |
| Injective COIN/USDC PERP | −0.0440% | 1h | 196.06 | −0.056% | $43K | $48K | 30x | as long as short |
| Vest COIN-USD-PERP | −0.0064% | 1h | 195.90 | −0.138% | — | $326K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 196.29 | +0.060% | $342K | $890K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 196.34 | +0.085% | $106K | $861K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 196.47 | +0.153% | $15.0M | $82.2M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 196.44 | +0.138% | $4.7M | $6.2M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 196.40 | +0.117% | $3.0M | $4.7M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 196.58 | +0.209% | $1.2M | $7.3M | 50x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 196.03 | −0.073% | $713K | $975K | — | as long as short |
Bitget COINUSDT
Injective COIN/USDC PERP
Vest COIN-USD-PERP
Aster COINUSDT
Extended COIN_24_5-USD
Binance COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
Gate COIN_USDT
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 | 196.10 | −0.036% | $22K | $2.8M | 10x | as long as short |
| Lighter COIN | +0.0032% | 1h | 196.23 | +0.032% | $363K | $2.3M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 196.22 | +0.025% | $462K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 196.31 | +0.071% | $17K | $58K | 5x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 196.24 | +0.036% | $15.2M | $13.1M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 196.26 | +0.046% | $130K | $1.4M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 196.27 | +0.051% | $100 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 195.69 | −0.245% | $448K | $2.8M | 10x | as long as short |
| QFEX COIN-USD | +0.0065% | 1h | 196.35 | +0.092% | $1.3M | $2.9M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 196.18 | +0.005% | $989K | $136K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 196.07 | −0.051% | $88K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythosshort | +0.0100% | 8h | 196.40 | +0.117% | $568 | $4K | 10x | |
| Aevo COIN-PERP | +0.0104% | 1h | 196.30 | +0.069% | $116 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 196.31 | +0.071% | $188K | $437K | 20x | as long as short |
| Phoenix COINlong | +0.0163% | 1h | 196.17 | long leg | $4K | $283K | 10x | |
| edgeX COINUSDC | +0.0756% | 4h | 196.06 | −0.054% | $50K | $295K | 10x | as long as short |
GRVT COIN_USDT_Perp
Lighter COIN
Lighter RH COIN
Arcus COIN-USD
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
SoDEX COIN-USD
Ondo Perps COIN-USD.P
QFEX COIN-USD
KuCoin COINUSDTM
ApeX Omni COINUSDT
Aevo COIN-PERP
BloFin COIN-USDT
edgeX COINUSDC