Funding you earn now, next payment 01:00 UTC+0.3400%/8h= +372.3% APRnext payment +$4.25 per $10,000 · paid last 24h +0.438%
Price spread now: Coinbase International against Deribit+0.443%7-day average +0.325% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$112as in the Price arb table
costs, in and out, $10k−$1241.237% of the position
Funding, last 6 days (all we have)+0.707%+$71 on $10k
+Price spread, last 3 days (all we have)−0.353%−$35 · spread now +0.443%, 7d avg +0.325%
=Both sides work for this trade now. Funding pays +$102 a day on $10k at the current rate, and Coinbase International is 0.118% dearer against Deribit than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.325%.
The current funding rate is far above what this pair has been paying: over the last 6 days it paid 0.707% in total (about 44.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.25 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 | Deribit FET_USDC-PERPETUAL | 0.2032 | −0.4160 | get 0.0520% / 1h | 0m 17s | $30K | $230K | 10x |
| Short | Coinbase International FET-PERP-INTX | 0.2041 | −0.0760 | pay 0.0095% / 1h | 0m 17s | $148K | $220K | 50x |
Deribit FET_USDC-PERPETUAL
Coinbase International FET-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Deribit. 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
- $713.92
- Price spread: +0.443% → +0.325%
- $11.78
- Slippage, 4 orders
- −$106.74
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $601.95
- Costs to cover
- 1.237%
- Break-even
- 1.1 days
Slippage from Deribit: live order book, 3 min ago; Coinbase International: live order book, 3 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 Deribit live order book, 3 min ago | 4.92 bp | 8.4 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 3 min ago | 7.38 bp | 50.6 bp −$51 | doesn't fit | doesn't fit | doesn't fit |
FET on 19 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit FET_USDC-PERPETUALlong | −0.4160% | 1h | 0.2032 | long leg | $30K | $230K | 10x | |
| Coinbase International FET-PERP-INTXshort | −0.0760% | 1h | 0.2041 | +0.443% | $148K | $220K | 50x | |
| Kraken Futures PF_FETUSD | −0.0737% | 1h | 0.2036 | +0.173% | $993K | $2.2M | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0015% | 1h | 0.2032 | −0.022% | $23K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | −1.083% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2033 | +0.049% | $260K | $719K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2033 | +0.037% | $31.6M | $111.6M | 75x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.2031 | −0.049% | $2.7M | $12.4M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2031 | −0.049% | $31.1M | $25.3M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2032 | 0.000% | $10.6M | $18.9M | 50x | as long as short |
Kraken Futures PF_FETUSD
gTrade (Gains Network) FET/USD
Injective FET/USDC PERP
Aster FETUSDT
Binance FETUSDT
Gate FET_USDT
MEXC FET_USDT
KuCoin FETUSDTMShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni FET | +0.0100% | 8h | 0.2033 | +0.056% | $336K | $420K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2030 | −0.098% | $38K | $7K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2033 | +0.067% | $35K | $252K | 10x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2030 | −0.108% | $14K | — | 100x | as long as short |
| OKX FET-USDT-SWAP | +0.0243% | 4h | 0.2032 | 0.000% | $1.0M | $8.1M | 20x | as long as short |
| BingX FET-USDT | +0.0363% | 8h | 0.2033 | +0.049% | — | $6.0M | — | as long as short |
| Bitget FETUSDT | +0.0388% | 8h | 0.2033 | +0.049% | $16.4M | $11.7M | 75x | as long as short |
| Phoenix FET | +0.0474% | 1h | 0.2042 | +0.477% | $36K | $43K | 5x | as long as short |
| Hyperliquid FET | +0.0489% | 1h | 0.2034 | +0.118% | $9.0M | $8.4M | 5x | as long as short |
Variational Omni FET
Orderly PERP_FET_USDC
Extended FET-USD
GMX FET/USD [ETH-USDC]
OKX FET-USDT-SWAP
BingX FET-USDT
Bitget FETUSDT
Phoenix FET
Hyperliquid FET