Funding you earn now, next payment 11:00 UTC+0.1028%/8h= +112.5% APRpaid last 24h +0.160%
Price spread now: Phoenix against Bybit−0.080%75s7-day average +0.033% · you buy dearer than you sell
Net, funding: paid 7d − costs+$12as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$510.515% of the position
Funding, last 7 days+0.636%+$64 on $10k
+Price spread, last 4 days (all we have)+0.072%+$7 · spread now −0.080%, 7d avg +0.033%
=Funding pays, the price is against you. Phoenix is 0.113% cheaper against Bybit than usual: you would sell low and buy high (spread −0.080% now, against its 7-day average of +0.033%). If the spread goes back, that is −$11 on $10k: about 9 hours of funding at the current rate (+$31 a day). At the pace of the last 7 days (+0.636% in total) that is about 30 hours. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.636% in total (about 33.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit DELLUSDT | 574.71 | 0 | get 0.0000% / 8h | 4h 44m | $6.2M | $3.8M | 50x |
| Short | Phoenix DELL | 574.25 | 0.1028 | get 0.0128% / 1h | 44m 11s | $3K | $230K | 10x |
Bybit DELLUSDT
Phoenix DELLFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bybit. 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
- $215.78
- Price spread: −0.080% → +0.033%
- −$11.32
- Slippage, 4 orders
- −$33.48
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $152.99
- Costs to cover
- 0.515%
- Break-even
- 2.0 days
Slippage from Bybit: live order book, 2 min ago; Phoenix: live order book, 59 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 Bybit live order book, 2 min ago | 3.13 bp | 18.6 bp −$19 | 97.0 bp −$970 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 59 min ago | 3.12 bp | 10.3 bp −$10 | 21.1 bp −$211 | doesn't fit | doesn't fit |
DELL on 20 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster DELLUSDT | 0.0000% | 8h | 574.73 | +0.003% | $21K | $49K | 20x | as long as short |
| Bybit DELLUSDTlong | 0.0000% | 8h | 574.71 | long leg | $6.2M | $3.8M | 50x | |
| Bitget DELLUSDT | 0.0000% | 8h | 574.64 | −0.012% | $3.7M | $4.5M | 20x | as long as short |
| edgeX DELLUSDC | +0.0024% | 4h | 574.36 | −0.061% | $5K | $333K | 10x | as long as short |
| Lighter DELL | +0.0032% | 1h | 574.98 | +0.047% | $34K | $12K | 10x | as long as short |
| Injective DELL/USDC PERP | +0.0033% | 1h | 573.13 | −0.275% | $4K | $10K | 12x | as long as short |
| tradeXYZ xyz:DELL | +0.0050% | 1h | 574.24 | −0.082% | $7.6M | $6.7M | 10x | as long as short |
| Polymarket Perps DELL-USD | +0.0050% | 1h | 574.55 | −0.028% | $7K | $54K | 10x | as long as short |
| KuCoin DELLUSDTM | +0.0100% | 8h | 574.38 | −0.057% | $939K | $262K | 20x | as long as short |
| Orderly PERP_DELL_USDC_mythos | +0.0100% | 8h | 575.33 | +0.108% | $3K | $336 | 10x | as long as short |
Aster DELLUSDT
Bitget DELLUSDT
edgeX DELLUSDC
Lighter DELL
Injective DELL/USDC PERP
tradeXYZ xyz:DELL
Polymarket Perps DELL-USD
KuCoin DELLUSDTM
Orderly PERP_DELL_USDC_mythosShow all 20 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX DELL-USDT | +0.0100% | 8h | 574.55 | −0.028% | $17K | $52K | 10x | as long as short |
| OKX DELL-USDT-SWAP | +0.0130% | 8h | 574.74 | +0.005% | $5.8M | $6.9M | 20x | as long as short |
| Gate DELL_USDT | +0.0231% | 8h | 574.84 | +0.023% | $4.0M | $6.3M | 50x | as long as short |
| Variational Omni DELL | +0.0372% | 8h | 574.18 | −0.092% | $259K | $50K | — | as long as short |
| Nado DELL-PERP | +0.0396% | 1h | 574.69 | −0.004% | $69K | $20K | 10x | as long as short |
| Extended DELL-USD | +0.0472% | 1h | 574.77 | +0.010% | $336K | $2.6M | 10x | as long as short |
| Binance DELLUSDT | +0.0476% | 8h | 574.93 | +0.038% | $18.3M | $67.7M | 20x | as long as short |
| BloFin DELL-USDT | +0.0504% | 8h | 574.61 | −0.017% | $328K | $244K | 20x | as long as short |
| GRVT DELL_USDT_Perp | +0.0909% | 8h | 574.77 | +0.011% | $1K | $133K | 10x | as long as short |
| Phoenix DELLshort | +0.1028% | 1h | 574.25 | −0.080% | $3K | $230K | 10x |
HTX DELL-USDT
OKX DELL-USDT-SWAP
Gate DELL_USDT
Variational Omni DELL
Nado DELL-PERP
Extended DELL-USD
Binance DELLUSDT
BloFin DELL-USDT
GRVT DELL_USDT_Perp