Funding you earn now, next payment 03:00 UTC−0.0071%/8h= −7.8% APRnext payment −$0.09 per $10,000 · paid last 24h −0.050%
Price spread now: SoDEX against Phoenix+0.102%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 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. SoDEX is 0.102% dearer against Phoenix than usual: you sell high and buy low (spread +0.102% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.7 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix COIN | 197.00 | 0.0121 | pay 0.0015% / 1h | 8m 22s | $4K | $281K | 10x |
| Short | SoDEX COIN-USD | 197.20 | 0.0050 | get 0.0006% / 1h | 8m 22s | $65 | $3K | 10x |
Phoenix COIN
SoDEX COIN-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX 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
- −$15
- Price spread: +0.102% → 0.000%
- $10.15
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$19.85
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 44 min ago; SoDEX: 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, 44 min ago | 3.55 bp | 11.7 bp −$12 | 24.8 bp −$248 | doesn't fit | doesn't fit |
| Sell SoDEX no order-book sample | — | — | — | — | — |
SoDEX: 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 | −0.0751% | 8h | 197.25 | +0.127% | $6.3M | $10.3M | 20x | as long as short |
| Injective COIN/USDC PERP | −0.0440% | 1h | 197.05 | +0.025% | $43K | $48K | 30x | as long as short |
| Gate COIN_USDT | −0.0217% | 8h | 197.21 | +0.107% | $1.2M | $7.3M | 50x | as long as short |
| Vest COIN-USD-PERP | −0.0108% | 1h | 196.60 | −0.203% | — | $271K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 197.24 | +0.120% | $345K | $885K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 197.12 | +0.063% | $117K | $695K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 197.10 | +0.051% | $14.8M | $79.4M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 197.18 | +0.091% | $4.8M | $5.9M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 197.11 | +0.056% | $3.0M | $4.6M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 197.03 | +0.014% | $680K | $935K | — | 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 | 197.06 | +0.032% | $11K | $2.3M | 10x | as long as short |
| QFEX COIN-USD | +0.0013% | 1h | 197.13 | +0.066% | $1.3M | $3.2M | 10x | as long as short |
| Lighter COIN | +0.0032% | 1h | 197.13 | +0.068% | $347K | $2.0M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 197.12 | +0.061% | $448K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 197.20 | +0.102% | $15K | $55K | 5x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 196.97 | −0.015% | $15.4M | $13.5M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 196.96 | −0.020% | $134K | $1.2M | 10x | as long as short |
| SoDEX COIN-USDshort | +0.0050% | 1h | 197.20 | +0.102% | $65 | $3K | 10x | |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 197.01 | +0.005% | $349K | $2.7M | 10x | as long as short |
| edgeX COINUSDC | +0.0073% | 4h | 197.03 | +0.015% | $51K | $294K | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 196.99 | −0.005% | $992K | $143K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 196.93 | −0.036% | $89K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 197.19 | +0.096% | $570 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 197.20 | +0.099% | $116 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 197.26 | +0.132% | $188K | $393K | 20x | as long as short |
| Phoenix COINlong | +0.0121% | 1h | 197.00 | long leg | $4K | $281K | 10x |
GRVT COIN_USDT_Perp
QFEX COIN-USD
Lighter COIN
Lighter RH COIN
Arcus COIN-USD
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
Ondo Perps COIN-USD.P
edgeX COINUSDC
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
BloFin COIN-USDT