Funding arb · Price arb /

ORCL

RWAall ORCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0260%/8h= +28.4% APRpaid last 24h +0.074%

Price spread now: Phoenix against Binance−0.153%75s7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs+$35as 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−$370.368% of the position

Long on Binance Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.723%+$72 on $10k

Price spread, last 4 days (all we have)+0.279%+$28 · spread now −0.153%, 7d avg −0.043%

Together, before fees+1.002%+$100 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.109% cheaper against Binance than usual: you would sell low and buy high (spread −0.153% now, against its 7-day average of −0.043%). If the spread goes back, that is −$11 on $10k: about 34 hours of funding at the current rate (+$8 a day). The two prices were read 75 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	Binance ORCLUSDT	150.49	0.0432	pay 0.0432% / 8h	4h 44m	$25.5M	$35.6M	20x
Short	Phoenix ORCL	150.26	0.0692	get 0.0087% / 1h	44m 13s	$154K	$85K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BinancebpFee PhoenixbpOrdersPrice spread, now −0.153%Rate

Funding earned: $54.53
Price spread: −0.153% → −0.043%: −$10.93
Slippage, 4 orders: −$19.81
Fee Binance: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $6.78
Costs to cover: 0.368%
Break-even: 6.1 days

Slippage from Binance: live order book, 6 min ago; Phoenix: live order book, 55 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 Binance live order book, 6 min ago	0.67 bp	8.2 bp −$8	21.6 bp −$216	75.6 bp −$7,559	doesn't fit
Sell Phoenix live order book, 55 min ago	2.67 bp	10.2 bp −$10	21.2 bp −$212	doesn't fit	doesn't fit

ORCL on 28 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
edgeX ORCLUSDC	−0.0371%	4h	150.25	−0.162%	$28K	$216K	10x	as long as short
Aster ORCLUSDT	0.0000%	8h	150.60	+0.074%	$106K	$22K	20x	as long as short
SunX ORCL-USDT	0.0000%	8h	150.70	+0.140%	$2K	$2.3M	10x	as long as short
Nado ORCL-PERP	+0.0022%	1h	150.30	−0.128%	$89K	$5K	10x	as long as short
Lighter ORCL	+0.0032%	1h	150.56	+0.047%	$481K	$60K	10x	as long as short
Lighter RH ORCL	+0.0032%	1h	150.47	−0.013%	$621K	$298K	10x	as long as short
Injective ORCL/USDC PERP	+0.0033%	1h	149.06	−0.950%	$20K	$9K	12x	as long as short
Vest ORCL-USD-PERP	+0.0046%	1h	150.56	+0.047%	—	—	25x	as long as short
tradeXYZ xyz:ORCL	+0.0050%	1h	150.42	−0.047%	$22.0M	$6.6M	10x	as long as short
Polymarket Perps ORCL-USD	+0.0050%	1h	150.39	−0.066%	$77K	$152K	10x	as long as short

Show all 28 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX ORCL-USD	+0.0050%	1h	150.44	−0.033%	$30K	$3K	10x	as long as short
Ondo Perps ORCL-USD.P	+0.0050%	1h	150.14	−0.233%	$697K	$886K	10x	as long as short
HTX ORCL-USDT	+0.0060%	8h	150.43	−0.040%	$52K	$18K	20x	as long as short
QFEX ORCL-USD	+0.0070%	1h	150.36	−0.086%	$1.1M	$1.9M	10x	as long as short
KuCoin ORCLUSDTM	+0.0100%	8h	150.44	−0.033%	$243K	$507K	20x	as long as short
ApeX Omni ORACLEUSDT	+0.0100%	1h	150.03	−0.306%	$23K	$262K	50x	as long as short
Orderly PERP_ORCL_USDC_mythos	+0.0100%	8h	150.44	−0.033%	$191	—	10x	as long as short
OKX ORCL-USDT-SWAP	+0.0222%	8h	150.51	+0.013%	$5.0M	$6.2M	20x	as long as short
Gate ORCL_USDT	+0.0235%	8h	150.61	+0.080%	$2.3M	$2.8M	25x	as long as short
Bitget ORCLUSDT	+0.0250%	8h	150.53	+0.027%	$7.8M	$2.4M	20x	as long as short
Variational Omni ORCL	+0.0329%	8h	150.25	−0.162%	$1.2M	$363K	—	as long as short
Extended ORCL_24_5-USD	+0.0432%	1h	150.46	−0.020%	$390K	$2.5M	10x	as long as short
Binance ORCLUSDTlong	+0.0432%	8h	150.49	long leg	$25.5M	$35.6M	20x
Arcus ORCL-USD	+0.0446%	1h	150.35	−0.093%	$87K	$71K	10x	as long as short
GRVT ORCL_USDT_Perp	+0.0542%	8h	150.36	−0.085%	$1K	$138K	10x	as long as short
Bybit ORCLUSDT	+0.0645%	8h	150.57	+0.053%	$4.2M	$1.8M	50x	as long as short
BloFin ORCL-USDT	+0.0670%	8h	150.51	+0.013%	$48K	$43K	20x	as long as short
Phoenix ORCLshort	+0.0692%	1h	150.26	−0.153%	$154K	$85K	10x