Funding you earn now, next payment 03:00 UTC+0.0226%/8h= +24.7% APRnext payment +$0.28 per $10,000 · paid last 24h +0.059%
Price spread now: Phoenix against Vest+0.249%7-day average −0.111% · 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)+0.036%+$4 on $10k
+Price spread, last 4 days (all we have)−0.364%−$36 · spread now +0.249%, 7d avg −0.111%
=Together, before fees−0.329%+ Points / potential airdropVest: Active · farm board−$33 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phoenix is 0.360% dearer against Vest than usual: you sell high and buy low: +$36 more if the spread goes back to its 7-day average of −0.111%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.036% in total (about 3.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.28 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Vest COIN-USD-PERP | 196.43 | −0.0105 | get 0.0013% / 1h | 11m 33s | — | $271K | 25x |
| Short | Phoenix COIN | 196.92 | 0.0121 | get 0.0015% / 1h | 11m 33s | $4K | $281K | 10x |
Vest COIN-USD-PERP
Phoenix COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Vest. 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
- $47.46
- Price spread: +0.249% → −0.111%
- $36.02
- Slippage, 4 orders
- no order book: not counted
- Fee Vest: 1 bp × 2 orders
- −$2
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $74.48
- Costs to cover
- 0.090%
- Break-even
- from the start
Slippage unknown: Vest: no order-book sample; Phoenix: live order book, 41 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 Vest no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 41 min ago | 3.55 bp | 11.7 bp −$12 | 24.9 bp −$249 | doesn't fit | doesn't fit |
Vest: 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 | −0.0759% | 8h | 197.15 | +0.367% | $6.3M | $10.3M | 20x | as long as short |
| Injective COIN/USDC PERP | −0.0440% | 1h | 197.08 | +0.331% | $43K | $48K | 30x | as long as short |
| Gate COIN_USDT | −0.0215% | 8h | 197.09 | +0.336% | $1.2M | $7.2M | 50x | as long as short |
| Vest COIN-USD-PERPlong | −0.0105% | 1h | 196.43 | long leg | — | $271K | 25x | |
| Aster COINUSDT | 0.0000% | 8h | 197.28 | +0.430% | $345K | $885K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 197.00 | +0.288% | $117K | $695K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 197.06 | +0.319% | $14.8M | $79.4M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 197.10 | +0.341% | $4.8M | $5.9M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 197.11 | +0.346% | $3.0M | $4.6M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 197.04 | +0.311% | $680K | $935K | — | as long as short |
Bitget COINUSDT
Injective COIN/USDC PERP
Gate COIN_USDT
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 | 197.12 | +0.352% | $19K | $2.3M | 10x | as long as short |
| QFEX COIN-USD | +0.0013% | 1h | 197.02 | +0.300% | $1.3M | $3.2M | 10x | as long as short |
| Lighter COIN | +0.0032% | 1h | 197.05 | +0.316% | $347K | $2.0M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 197.05 | +0.316% | $447K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 197.11 | +0.346% | $15K | $55K | 5x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 196.96 | +0.270% | $15.4M | $13.5M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 196.92 | +0.249% | $134K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 197.03 | +0.305% | $64 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 196.87 | +0.224% | $349K | $2.7M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 197.03 | +0.305% | $992K | $143K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 196.95 | +0.265% | $89K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 197.04 | +0.311% | $570 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 197.04 | +0.309% | $116 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 197.02 | +0.300% | $187K | $392K | 20x | as long as short |
| Phoenix COINshort | +0.0121% | 1h | 196.92 | +0.249% | $4K | $281K | 10x | |
| edgeX COINUSDC | +0.0591% | 4h | 197.04 | +0.308% | $51K | $296K | 10x | as long as short |
GRVT COIN_USDT_Perp
QFEX COIN-USD
Lighter COIN
Lighter RH COIN
Arcus COIN-USD
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
SoDEX 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