Funding you earn now, next payment 04:00 UTC+0.0684%/8h= +75.0% APRpaid last 24h +0.096%
Price spread now: Phoenix against OKX−0.082%106s7-day average −0.013% · you buy dearer than you sell
Net, funding: paid 7d − costs+$8as 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−$480.481% of the position
Funding, last 7 days+0.557%+$56 on $10k
+Price spread, last 4 days (all we have)+0.039%+$4 · spread now −0.082%, 7d avg −0.013%
=Funding pays, the price is against you. Phoenix is 0.069% cheaper against OKX than usual: you would sell low and buy high (spread −0.082% now, against its 7-day average of −0.013%). If the spread goes back, that is −$7 on $10k: about 8 hours of funding at the current rate (+$21 a day). At the pace of the last 7 days (+0.557% in total) that is about 21 hours. The two prices were read 106 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 | OKX DELL-USDT-SWAP | 574.08 | 0.0356 | pay 0.0356% / 8h | 3h 13m | $5.8M | $6.6M | 20x |
| Short | Phoenix DELL | 573.61 | 0.1040 | get 0.0130% / 1h | 13m 45s | $3K | $260K | 10x |
OKX DELL-USDT-SWAP
Phoenix DELLFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against OKX. 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
- $143.74
- Price spread: −0.082% → −0.013%
- −$6.9
- Slippage, 4 orders
- −$31.07
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $88.77
- Costs to cover
- 0.481%
- Break-even
- 2.7 days
Slippage from OKX: live order book, 4 min ago; Phoenix: live order book, 36 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 OKX live order book, 4 min ago | 1.74 bp | 13.7 bp −$14 | 63.5 bp −$635 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 36 min ago | 2.78 bp | 9.6 bp −$10 | 19.3 bp −$193 | doesn't fit | doesn't fit |
DELL on 20 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster DELLUSDT | 0.0000% | 8h | 573.62 | −0.080% | $20K | $50K | 20x | as long as short |
| Gate DELL_USDT | 0.0000% | 8h | 574.02 | −0.010% | $4.1M | $7.3M | 50x | as long as short |
| Bitget DELLUSDT | 0.0000% | 8h | 573.93 | −0.026% | $3.6M | $4.7M | 20x | as long as short |
| Lighter DELL | +0.0032% | 1h | 574.11 | +0.005% | $34K | $13K | 10x | as long as short |
| Injective DELL/USDC PERP | +0.0033% | 1h | 571.67 | −0.420% | $8K | $83K | 12x | as long as short |
| tradeXYZ xyz:DELL | +0.0050% | 1h | 573.59 | −0.085% | $7.5M | $7.0M | 10x | as long as short |
| Polymarket Perps DELL-USD | +0.0050% | 1h | 573.78 | −0.052% | $7K | $54K | 10x | as long as short |
| KuCoin DELLUSDTM | +0.0100% | 8h | 573.66 | −0.073% | $940K | $29K | 20x | as long as short |
| Orderly PERP_DELL_USDC_mythos | +0.0100% | 8h | 574.41 | +0.057% | $3K | $336 | 10x | as long as short |
| HTX DELL-USDT | +0.0100% | 8h | 574.41 | +0.057% | $17K | $59K | 10x | as long as short |
Aster DELLUSDT
Gate DELL_USDT
Bitget DELLUSDT
Lighter DELL
Injective DELL/USDC PERP
tradeXYZ xyz:DELL
Polymarket Perps DELL-USD
KuCoin DELLUSDTM
Orderly PERP_DELL_USDC_mythos
HTX DELL-USDTShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit DELLUSDT | +0.0160% | 8h | 573.88 | −0.035% | $6.1M | $3.9M | 50x | as long as short |
| OKX DELL-USDT-SWAPlong | +0.0356% | 8h | 574.08 | long leg | $5.8M | $6.6M | 20x | |
| GRVT DELL_USDT_Perp | +0.0574% | 8h | 573.79 | −0.050% | $821 | $152K | 10x | as long as short |
| Variational Omni DELL | +0.0577% | 8h | 574.06 | −0.003% | $262K | $62K | — | as long as short |
| edgeX DELLUSDC | +0.0623% | 4h | 573.90 | −0.032% | $5K | $335K | 10x | as long as short |
| Binance DELLUSDT | +0.0670% | 8h | 574.20 | +0.021% | $18.5M | $66.1M | 20x | as long as short |
| Extended DELL-USD | +0.0672% | 1h | 574.04 | −0.008% | $333K | $1.2M | 10x | as long as short |
| BloFin DELL-USDT | +0.0683% | 8h | 574.51 | +0.075% | $322K | $220K | 20x | as long as short |
| Nado DELL-PERP | +0.0786% | 1h | 573.24 | −0.147% | $69K | $20K | 10x | as long as short |
| Phoenix DELLshort | +0.1040% | 1h | 573.61 | −0.082% | $3K | $260K | 10x |
Bybit DELLUSDT
GRVT DELL_USDT_Perp
Variational Omni DELL
edgeX DELLUSDC
Binance DELLUSDT
Extended DELL-USD
BloFin DELL-USDT
Nado DELL-PERP