Funding you earn now, next payment 00:00 UTC+0.0137%/8h= +15.0% APRnext payment +$0.17 per $10,000 · paid last 24h +0.039%
Price spread now: Phoenix against ApeX Omni−0.005%7-day average +0.026% · you buy dearer than you sell
Net, funding: paid 7d − costs−$29as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$410.405% of the position
Funding, last 7 days+0.111%+$11 on $10k
+Price spread, last 3 days (all we have)+0.014%+$1 · spread now −0.005%, 7d avg +0.026%
=Funding pays, the price is against you. Phoenix is 0.030% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.005% now, against its 7-day average of +0.026%). If the spread goes back, that is −$3 on $10k: about 18 hours of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.111% in total) that is about 46 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | ApeX Omni COINUSDT | 201.60 | 0.0100 | pay 0.0013% / 1h | 47m 05s | $91K | $287K | 50x |
| Short | Phoenix COIN | 201.59 | 0.0237 | get 0.0030% / 1h | 47m 05s | $5K | $279K | 10x |
ApeX Omni COINUSDT
Phoenix COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against ApeX Omni. 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
- $28.84
- Price spread: −0.005% → +0.026%
- −$3.05
- Slippage, 4 orders
- −$23.52
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$14.73
- Costs to cover
- 0.405%
- Break-even
- 10.6 days
Slippage from ApeX Omni: live order book, 25 min ago; Phoenix: live order book, 21 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 ApeX Omni live order book, 25 min ago | 2.72 bp | 8.1 bp −$8 | 13.7 bp −$137 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 21 min ago | 3.46 bp | 12.0 bp −$12 | 25.7 bp −$257 | doesn't fit | doesn't fit |
COIN on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective COIN/USDC PERP | −0.0440% | 1h | 201.70 | +0.050% | $44K | $48K | 30x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 201.72 | +0.058% | $370K | $840K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 201.71 | +0.054% | $119K | $527K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 201.77 | +0.084% | $15.8M | $76.0M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 201.82 | +0.109% | $5.1M | $5.9M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 201.91 | +0.154% | $3.3M | $4.7M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 201.80 | +0.099% | $1.3M | $6.8M | 50x | as long as short |
| Bitget COINUSDT | 0.0000% | 8h | 201.82 | +0.109% | $6.9M | $9.7M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 201.31 | −0.142% | $839K | $1.1M | — | as long as short |
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 201.69 | +0.043% | $12K | $2.0M | 10x | as long as short |
Injective COIN/USDC PERP
Aster COINUSDT
Extended COIN_24_5-USD
Binance COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
Gate COIN_USDT
Bitget COINUSDT
Variational Omni COIN
GRVT COIN_USDT_PerpShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| QFEX COIN-USD | +0.0021% | 1h | 201.71 | +0.055% | $1.4M | $3.9M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 201.73 | +0.064% | $434K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 201.72 | +0.060% | $16K | $53K | 5x | as long as short |
| Vest COIN-USD-PERP | +0.0046% | 1h | 201.55 | −0.025% | — | $493K | 25x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 201.67 | +0.035% | $16.6M | $12.5M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 201.64 | +0.020% | $129K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 201.68 | +0.040% | $96 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 201.41 | −0.094% | $359K | $3.3M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 201.82 | +0.109% | $1.0M | $135K | 20x | as long as short |
| ApeX Omni COINUSDTlong | +0.0100% | 1h | 201.60 | long leg | $91K | $287K | 50x | |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 201.72 | +0.060% | $583 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 201.71 | +0.056% | $119 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 201.72 | +0.060% | $200K | $341K | 20x | as long as short |
| Lighter COIN | +0.0168% | 1h | 201.75 | +0.077% | $377K | $1.8M | 10x | as long as short |
| Phoenix COINshort | +0.0237% | 1h | 201.59 | −0.005% | $5K | $279K | 10x | |
| edgeX COINUSDC | +0.0878% | 4h | 201.60 | +0.002% | $52K | $294K | 10x | as long as short |
QFEX COIN-USD
Lighter RH COIN
Arcus COIN-USD
Vest COIN-USD-PERP
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
SoDEX COIN-USD
Ondo Perps COIN-USD.P
KuCoin COINUSDTM
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
BloFin COIN-USDT
Lighter COIN
edgeX COINUSDC