Funding you earn now, next payment 09:00 UTC+0.0071%/8h= +7.8% APRnext payment +$0.09 per $10,000 · paid last 24h +0.035%
Price spread now: Phoenix against SoDEX+0.156%70s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 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
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phoenix is 0.156% dearer against SoDEX than usual: you sell high and buy low: +$16 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 70 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 | SoDEX COIN-USD | 198.40 | 0.0050 | pay 0.0006% / 1h | 1m 44s | $90 | $3K | 10x |
| Short | Phoenix COIN | 198.71 | 0.0121 | get 0.0015% / 1h | 1m 44s | $5K | $257K | 10x |
SoDEX COIN-USD
Phoenix COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against SoDEX. 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
- $14.93
- Price spread: +0.156% → 0.000%
- $15.62
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $15.56
- Costs to cover
- 0.150%
- Break-even
- from the start
Slippage unknown: SoDEX: no order-book sample; Phoenix: live order book, 46 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 SoDEX no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 46 min ago | 4.05 bp | 12.9 bp −$13 | 27.7 bp −$277 | doesn't fit | doesn't fit |
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 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Injective COIN/USDC PERP | −0.0440% | 1h | 197.52 | −0.444% | $17K | $224K | 30x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 198.23 | −0.086% | $345K | $868K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 198.33 | −0.037% | $105K | $851K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 198.39 | −0.005% | $14.6M | $76.1M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 198.46 | +0.030% | $4.7M | $5.5M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 198.44 | +0.020% | $3.1M | $4.4M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 198.41 | +0.005% | $1.2M | $6.7M | 50x | as long as short |
| Bitget COINUSDT | 0.0000% | 8h | 198.47 | +0.035% | $6.4M | $9.8M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 198.78 | +0.191% | $769K | $921K | — | as long as short |
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 198.24 | −0.078% | $12K | $3.2M | 10x | as long as short |
Injective COIN/USDC PERP
Aster COINUSDT
Extended COIN_24_5-USD
Binance COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
Gate COIN_USDT
Bitget COINUSDT
Variational Omni COIN
GRVT COIN_USDT_PerpShow all 26 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter COIN | +0.0032% | 1h | 198.36 | −0.019% | $346K | $2.0M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 198.37 | −0.015% | $482K | $1.2M | 10x | as long as short |
| QFEX COIN-USD | +0.0036% | 1h | 198.39 | −0.005% | $1.3M | $2.6M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 198.56 | +0.081% | $17K | $28K | 5x | as long as short |
| Vest COIN-USD-PERP | +0.0046% | 1h | 198.39 | −0.005% | — | $293K | 25x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 198.23 | −0.086% | $14.8M | $11.6M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 198.25 | −0.076% | $136K | $1.2M | 10x | as long as short |
| SoDEX COIN-USDlong | +0.0050% | 1h | 198.40 | long leg | $90 | $3K | 10x | |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 198.36 | −0.020% | $333K | $2.1M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 198.30 | −0.050% | $936K | $241K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 198.44 | +0.020% | $89K | $272K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 198.39 | −0.005% | $574 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 198.28 | −0.058% | $117 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 198.80 | +0.202% | $193K | $491K | 20x | as long as short |
| Phoenix COINshort | +0.0121% | 1h | 198.71 | +0.156% | $5K | $257K | 10x | |
| edgeX COINUSDC | +0.0257% | 4h | 198.79 | +0.199% | $51K | $294K | 10x | as long as short |
Lighter COIN
Lighter RH COIN
QFEX COIN-USD
Arcus COIN-USD
Vest COIN-USD-PERP
tradeXYZ xyz:COIN
Polymarket Perps 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