Funding you earn now, next payment 02:00 UTC−0.0569%/8h= −62.3% APRpaid last 24h −0.088%
Price spread now: Binance against Phoenix+1.034%115s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.282%−$28 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Binance is 1.034% dearer against Phoenix than usual: you sell high and buy low (spread +1.034% now, against zero (this spread has no 7-day history yet)): +$103 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 6.1 days. At the pace of the last 7 days (−0.282% in total) that is about 26 days. The two prices were read 115 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.282% in total (about -14.7% a year). A funding rate is set anew for every payment. 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 | Phoenix FET | 0.2029 | 0.0669 | pay 0.0084% / 1h | 31m 37s | $35K | $39K | 5x |
| Short | Binance FETUSDT | 0.2050 | 0.0100 | get 0.0100% / 8h | 5h 31m | $31.8M | $111.8M | 75x |
Phoenix FET
Binance FETUSDTFunding 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
- −$119.41
- Price spread: +1.034% → 0.000%
- $103.42
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$32.99
- Costs to cover
- 0.170%
- Break-even
- from the start
Slippage unknown: Phoenix: no order-book sample; Binance: live order book, 11 min ago. Net counts fees only.
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 no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 11 min ago | 2.46 bp | 12.2 bp −$12 | 23.1 bp −$231 | 108.9 bp −$10.9K | doesn't fit |
Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
FET 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit FET_USDC-PERPETUAL | −0.2674% | 1h | 0.2046 | +0.853% | $30K | $230K | 10x | as long as short |
| Coinbase International FET-PERP-INTX | −0.0872% | 1h | 0.2054 | +1.247% | $150K | $228K | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0015% | 1h | 0.2046 | +0.849% | $23K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | −0.922% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2047 | +0.888% | $261K | $772K | 10x | as long as short |
| Binance FETUSDTshort | +0.0100% | 8h | 0.2050 | +1.034% | $31.8M | $111.8M | 75x | |
| Gate FET_USDT | +0.0100% | 8h | 0.2047 | +0.902% | $2.8M | $12.3M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2049 | +1.001% | $30.6M | $24.2M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2049 | +1.001% | $10.7M | $18.8M | 50x | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.2038 | +0.463% | $341K | $424K | — | as long as short |
Deribit FET_USDC-PERPETUAL
Coinbase International FET-PERP-INTX
gTrade (Gains Network) FET/USD
Injective FET/USDC PERP
Aster FETUSDT
Gate FET_USDT
MEXC FET_USDT
KuCoin FETUSDTM
Variational Omni FETShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2046 | +0.853% | $38K | $7K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2048 | +0.972% | $35K | $252K | 10x | as long as short |
| Kraken Futures PF_FETUSD | +0.0114% | 1h | 0.2048 | +0.943% | $991K | $2.2M | 50x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0202% / S −0.0278% | 1h | 0.2046 | +0.831% | $14K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2057 | +1.395% | $1.7M | $3.0M | 100x | as long as short |
| OKX FET-USDT-SWAP | +0.0281% | 4h | 0.2051 | +1.099% | $1.0M | $8.2M | 20x | as long as short |
| BingX FET-USDT | +0.0394% | 8h | 0.2050 | +1.050% | — | $5.9M | — | as long as short |
| Bitget FETUSDT | +0.0415% | 8h | 0.2050 | +1.050% | $16.6M | $11.8M | 75x | as long as short |
| Phoenix FETlong | +0.0669% | 1h | 0.2029 | long leg | $35K | $39K | 5x | |
| Hyperliquid FET | +0.0757% | 1h | 0.2050 | +1.040% | $9.0M | $8.4M | 5x | as long as short |
Orderly PERP_FET_USDC
Extended FET-USD
Kraken Futures PF_FETUSD
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
OKX FET-USDT-SWAP
BingX FET-USDT
Bitget FETUSDT
Hyperliquid FET