Funding you earn now, next payment 10:00 UTC−0.1252%/8h= −137.1% APRpaid last 24h −0.165%
Price spread now: Coinbase International against OKX+0.384%7-day average +0.301% · you sell dearer than you buy
Net, funding: paid 7d − costs−$180as in the Funding arb table
Net, price: spread back to 7d avg − costs−$153as in the Price arb table
costs, in and out, $10k−$1611.610% of the position
Funding, last 7 days−0.192%−$19 on $10k
+Price spread, last 4 days (all we have)−0.438%−$44 · spread now +0.384%, 7d avg +0.301%
=The price spread pays, funding is against you. Coinbase International is 0.083% dearer against OKX than usual: you sell high and buy low (spread +0.384% now, against its 7-day average of +0.301%): +$8 on $10k if it goes back. Holding the pair costs −$38 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.192% in total) that is about 3.0 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.192% in total (about -10.0% 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 | OKX FET-USDT-SWAP | 0.2082 | 0.0100 | pay 0.0050% / 4h | 1h 54m | $1.1M | $7.7M | 20x |
| Short | Coinbase International FET-PERP-INTX | 0.2090 | −0.1152 | pay 0.0144% / 1h | 54m 54s | $148K | $271K | 50x |
OKX FET-USDT-SWAP
Coinbase International FET-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$262.92
- Price spread: +0.384% → +0.301%
- $8.3
- Slippage, 4 orders
- −$141.02
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$415.64
- Costs to cover
- 1.610%
- Break-even
- never at this rate
Slippage from OKX: live order book, 1 min ago; Coinbase International: live order book, 56 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, 1 min ago | 4.79 bp | 18.1 bp −$18 | 64.7 bp −$647 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 56 min ago | 4.78 bp | 68.4 bp −$68 | doesn't fit | doesn't fit | doesn't fit |
FET 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit FET_USDC-PERPETUAL | −0.5952% | 1h | 0.2083 | +0.048% | $33K | $324K | 10x | as long as short |
| Coinbase International FET-PERP-INTXshort | −0.1152% | 1h | 0.2090 | +0.384% | $148K | $271K | 50x | |
| Kraken Futures PF_FETUSD | −0.1150% | 1h | 0.2086 | +0.205% | $1.1M | $2.0M | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0003% | 1h | 0.2094 | +0.578% | $10K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2100 | +0.865% | $2K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2082 | +0.013% | $162K | $746K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2081 | −0.033% | $32.1M | $110.9M | 75x | as long as short |
| OKX FET-USDT-SWAPlong | +0.0100% | 4h | 0.2082 | long leg | $1.1M | $7.7M | 20x | |
| Gate FET_USDT | +0.0100% | 8h | 0.2082 | 0.000% | $2.9M | $12.4M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2082 | 0.000% | $30.4M | $25.2M | 200x | as long as short |
Deribit FET_USDC-PERPETUAL
Kraken Futures PF_FETUSD
gTrade (Gains Network) FET/USD
Injective FET/USDC PERP
Aster FETUSDT
Binance FETUSDT
Gate FET_USDT
MEXC FET_USDTShow all 20 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2084 | +0.096% | $11.1M | $17.2M | 50x | as long as short |
| Bitget FETUSDT | +0.0100% | 8h | 0.2081 | −0.048% | $16.6M | $12.2M | 75x | as long as short |
| BingX FET-USDT | +0.0100% | 8h | 0.2081 | −0.048% | — | $5.8M | — | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.2086 | +0.191% | $314K | $562K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2082 | 0.000% | $37K | $13K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2082 | +0.015% | $38K | $213K | 10x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0203% / S −0.0302% | 1h | 0.2083 | +0.061% | $14K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2087 | +0.240% | $1.8M | $3.3M | 100x | as long as short |
| Hyperliquid FET | +0.0372% | 1h | 0.2087 | +0.216% | $9.3M | $7.8M | 5x | as long as short |
| Phoenix FET | +0.0453% | 1h | 0.2100 | +0.874% | $36K | $36K | 5x | as long as short |
KuCoin FETUSDTM
Bitget FETUSDT
BingX FET-USDT
Variational Omni FET
Orderly PERP_FET_USDC
Extended FET-USD
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
Hyperliquid FET
Phoenix FET