Funding you earn now, next payment 07:00 UTC+0.0113%/8h= +12.4% APRnext payment +$0.14 per $10,000 · paid last 24h +0.021%
Price spread now: Phoenix against tradeXYZ+0.026%7-day average +0.037% · you sell dearer than you buy
Net, funding: paid 7d − costs−$33as in the Funding arb table
Net, price: spread back to 7d avg − costs−$45as in the Price arb table
costs, in and out, $10k−$440.442% of the position
Funding, last 7 days+0.109%+$11 on $10k
+Price spread, last 4 days (all we have)−0.313%−$31 · spread now +0.026%, 7d avg +0.037%
=Together, before fees−0.205%+ Points / potential airdroptradeXYZ: Active · farm board−$20 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.037%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | tradeXYZ xyz:COIN | 195.75 | 0.0050 | pay 0.0006% / 1h | 31m 06s | $15.1M | $13.0M | 10x |
| Short | Phoenix COIN | 195.80 | 0.0163 | get 0.0020% / 1h | 31m 06s | $4K | $283K | 10x |
tradeXYZ xyz:COIN
Phoenix COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against tradeXYZ. 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
- $23.83
- Price spread: +0.026% → +0.037%
- −$1.11
- Slippage, 4 orders
- −$19.18
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$21.47
- Costs to cover
- 0.442%
- Break-even
- 13.3 days
Slippage from tradeXYZ: live order book, 8 min ago; Phoenix: live order book, 67 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 tradeXYZ live order book, 8 min ago | 0.76 bp | 10.7 bp −$11 | 12.6 bp −$126 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 67 min ago | 3.07 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective COIN/USDC PERP | −0.0440% | 1h | 195.85 | +0.051% | $43K | $48K | 30x | as long as short |
| Bitget COINUSDT | −0.0342% | 8h | 196.14 | +0.199% | $6.4M | $10.6M | 20x | as long as short |
| Vest COIN-USD-PERP | −0.0043% | 1h | 195.47 | −0.143% | — | $326K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 195.82 | +0.035% | $342K | $890K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 195.90 | +0.076% | $106K | $861K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 195.94 | +0.097% | $15.0M | $82.2M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 195.95 | +0.102% | $4.7M | $6.2M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 195.80 | +0.026% | $3.0M | $4.7M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 195.97 | +0.112% | $1.2M | $7.4M | 50x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 195.93 | +0.090% | $712K | $974K | — | as long as short |
Injective COIN/USDC PERP
Bitget COINUSDT
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 | 195.86 | +0.054% | $22K | $2.8M | 10x | as long as short |
| Lighter COIN | +0.0032% | 1h | 195.85 | +0.054% | $362K | $2.3M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 195.84 | +0.046% | $463K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 196.11 | +0.184% | $17K | $58K | 5x | as long as short |
| tradeXYZ xyz:COINlong | +0.0050% | 1h | 195.75 | long leg | $15.1M | $13.0M | 10x | |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 195.82 | +0.036% | $134K | $1.4M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 195.89 | +0.072% | $100 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 195.76 | +0.005% | $445K | $2.8M | 10x | as long as short |
| QFEX COIN-USD | +0.0065% | 1h | 195.93 | +0.092% | $1.3M | $2.9M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 195.80 | +0.026% | $986K | $137K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 195.77 | +0.010% | $88K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 195.92 | +0.087% | $567 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 195.88 | +0.067% | $116 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 195.96 | +0.107% | $187K | $436K | 20x | as long as short |
| edgeX COINUSDC | +0.0120% | 4h | 195.93 | +0.092% | $50K | $296K | 10x | as long as short |
| Phoenix COINshort | +0.0163% | 1h | 195.80 | +0.026% | $4K | $283K | 10x |
GRVT COIN_USDT_Perp
Lighter COIN
Lighter RH COIN
Arcus COIN-USD
Polymarket Perps COIN-USD
SoDEX COIN-USD
Ondo Perps COIN-USD.P
QFEX COIN-USD
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
BloFin COIN-USDT
edgeX COINUSDC