Funding you earn now, next payment 06:00 UTC−0.0169%/8h= −18.5% APRpaid last 24h −0.089%
Price spread now: Binance against Phoenix−0.063%115s7-day average +0.041% · you buy dearer than you sell
Net, funding: paid 7d − costs−$114as 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−$380.381% of the position
Funding, last 7 days−0.762%−$76 on $10k
+Price spread, last 4 days (all we have)−0.029%−$3 · spread now −0.063%, 7d avg +0.041%
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Binance is 0.104% cheaper against Phoenix than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.041%). Swap the legs. The two prices were read 115 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 | Phoenix ORCL | 149.22 | 0.0429 | pay 0.0054% / 1h | 55m 40s | $153K | $72K | 10x |
| Short | Binance ORCLUSDT | 149.13 | 0.0259 | get 0.0259% / 8h | 55m 40s | $24.9M | $36.5M | 20x |
Phoenix ORCL
Binance ORCLUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phoenix. 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
- −$35.54
- Price spread: −0.063% → +0.041%
- −$10.39
- Slippage, 4 orders
- −$21.07
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$84
- Costs to cover
- 0.381%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 40 min ago; Binance: live order book, 1 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 Phoenix live order book, 40 min ago | 2.68 bp | 10.8 bp −$11 | 22.9 bp −$229 | doesn't fit | doesn't fit |
| Sell Binance live order book, 1 min ago | 0.34 bp | 9.2 bp −$9 | 18.1 bp −$181 | 96.8 bp −$9,679 | doesn't fit |
ORCL on 28 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX ORCLUSDC | −0.0753% | 4h | 149.23 | +0.003% | $28K | $213K | 10x | as long as short |
| Aster ORCLUSDT | 0.0000% | 8h | 149.03 | −0.127% | $97K | $20K | 20x | as long as short |
| Bitget ORCLUSDT | 0.0000% | 8h | 149.25 | +0.020% | $7.7M | $2.8M | 20x | as long as short |
| SunX ORCL-USDT | 0.0000% | 8h | 149.48 | +0.174% | $3K | $2.7M | 10x | as long as short |
| HTX ORCL-USDT | 0.0000% | 8h | 149.24 | +0.013% | $52K | $25K | 20x | as long as short |
| Lighter RH ORCL | +0.0032% | 1h | 149.12 | −0.067% | $622K | $316K | 10x | as long as short |
| Injective ORCL/USDC PERP | +0.0033% | 1h | 149.06 | −0.107% | $20K | $9K | 12x | as long as short |
| Arcus ORCL-USD | +0.0040% | 1h | 149.10 | −0.080% | $86K | $79K | 10x | as long as short |
| Vest ORCL-USD-PERP | +0.0046% | 1h | 149.11 | −0.074% | — | $67K | 25x | as long as short |
| tradeXYZ xyz:ORCL | +0.0050% | 1h | 149.00 | −0.147% | $21.6M | $6.9M | 10x | as long as short |
edgeX ORCLUSDC
Aster ORCLUSDT
Bitget ORCLUSDT
SunX ORCL-USDT
HTX ORCL-USDT
Lighter RH ORCL
Injective ORCL/USDC PERP
Arcus ORCL-USD
Vest ORCL-USD-PERP
tradeXYZ xyz:ORCLShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps ORCL-USD | +0.0050% | 1h | 149.05 | −0.114% | $131K | $92K | 10x | as long as short |
| SoDEX ORCL-USD | +0.0050% | 1h | 149.15 | −0.047% | $30K | $3K | 10x | as long as short |
| Ondo Perps ORCL-USD.P | +0.0050% | 1h | 149.04 | −0.121% | $698K | $856K | 10x | as long as short |
| QFEX ORCL-USD | +0.0057% | 1h | 149.11 | −0.074% | $1.1M | $2.0M | 10x | as long as short |
| Lighter ORCL | +0.0088% | 1h | 149.16 | −0.040% | $476K | $59K | 10x | as long as short |
| Nado ORCL-PERP | +0.0100% | 1h | 148.98 | −0.160% | $88K | $22K | 10x | as long as short |
| ApeX Omni ORACLEUSDT | +0.0100% | 1h | 149.29 | +0.047% | $22K | $263K | 50x | as long as short |
| Orderly PERP_ORCL_USDC_mythos | +0.0100% | 8h | 149.08 | −0.094% | $190 | — | 10x | as long as short |
| KuCoin ORCLUSDTM | +0.0110% | 8h | 149.19 | −0.020% | $240K | $274K | 20x | as long as short |
| Variational Omni ORCL | +0.0163% | 8h | 149.14 | −0.055% | $1.2M | $424K | — | as long as short |
| GRVT ORCL_USDT_Perp | +0.0176% | 8h | 149.24 | +0.012% | $1K | $159K | 10x | as long as short |
| Gate ORCL_USDT | +0.0209% | 8h | 149.23 | +0.007% | $2.3M | $2.9M | 25x | as long as short |
| OKX ORCL-USDT-SWAP | +0.0249% | 8h | 149.16 | −0.040% | $4.9M | $6.0M | 20x | as long as short |
| Extended ORCL_24_5-USD | +0.0256% | 1h | 149.09 | −0.089% | $388K | $1.4M | 10x | as long as short |
| Binance ORCLUSDTshort | +0.0259% | 8h | 149.13 | −0.063% | $24.9M | $36.5M | 20x | |
| Phoenix ORCLlong | +0.0429% | 1h | 149.22 | long leg | $153K | $72K | 10x | |
| Bybit ORCLUSDT | +0.0574% | 8h | 149.16 | −0.040% | $4.2M | $1.9M | 50x | as long as short |
| BloFin ORCL-USDT | +0.0584% | 8h | 149.41 | +0.127% | $47K | $44K | 20x | as long as short |
Polymarket Perps ORCL-USD
SoDEX ORCL-USD
Ondo Perps ORCL-USD.P
QFEX ORCL-USD
Lighter ORCL
Nado ORCL-PERP
ApeX Omni ORACLEUSDT
Orderly PERP_ORCL_USDC_mythos
KuCoin ORCLUSDTM
Variational Omni ORCL
GRVT ORCL_USDT_Perp
Gate ORCL_USDT
OKX ORCL-USDT-SWAP
Extended ORCL_24_5-USD
Bybit ORCLUSDT
BloFin ORCL-USDT