Funding you earn now, next payment 00:00 UTC−0.0117%/8h= −12.8% APRpaid last 24h −0.016%
Price spread now: BloFin against Phoenix−0.069%7-day average −0.014% · you buy dearer than you sell
Net, funding: paid 7d − costs−$42as in the Funding arb table
Net, price: spread back to 7d avg − costs−$47as in the Price arb table
costs, in and out, $10k−$410.412% of the position
Funding, last 7 days−0.009%−$1 on $10k
+Price spread, last 3 days (all we have)+0.018%+$2 · spread now −0.069%, 7d avg −0.014%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and BloFin is 0.056% cheaper against Phoenix than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.014%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix COIN | 201.81 | 0.0237 | pay 0.0030% / 1h | 47m 59s | $5K | $279K | 10x |
| Short | BloFin COIN-USDT | 201.67 | 0.0120 | get 0.0120% / 8h | 7h 47m | $199K | $341K | 20x |
Phoenix COIN
BloFin COIN-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$24.64
- Price spread: −0.069% → −0.014%
- −$5.58
- Slippage, 4 orders
- −$22.19
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$71.41
- Costs to cover
- 0.412%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 20 min ago; BloFin: live order book, 22 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, 20 min ago | 3.46 bp | 12.0 bp −$12 | 25.7 bp −$257 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 22 min ago | 1.98 bp | 8.0 bp −$8 | 11.0 bp −$110 | 25.6 bp −$2,559 | 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 | 201.52 | −0.144% | $44K | $48K | 30x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 201.64 | −0.086% | $370K | $840K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 201.66 | −0.075% | $119K | $518K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 201.67 | −0.071% | $15.8M | $76.1M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 201.62 | −0.094% | $5.0M | $5.9M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 201.75 | −0.030% | $3.3M | $4.7M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 201.62 | −0.094% | $1.3M | $6.8M | 50x | as long as short |
| Bitget COINUSDT | 0.0000% | 8h | 201.74 | −0.035% | $6.9M | $9.7M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 201.31 | −0.246% | $839K | $1.1M | — | as long as short |
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 201.78 | −0.015% | $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 | 201.66 | −0.074% | $1.4M | $3.9M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 201.58 | −0.114% | $434K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 201.73 | −0.040% | $16K | $53K | 5x | as long as short |
| Vest COIN-USD-PERP | +0.0046% | 1h | 201.49 | −0.159% | — | $513K | 25x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 201.57 | −0.119% | $16.6M | $12.5M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 201.59 | −0.109% | $129K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 201.59 | −0.109% | $98 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 201.41 | −0.198% | $359K | $3.3M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 201.74 | −0.035% | $1.0M | $135K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 201.44 | −0.183% | $91K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 201.63 | −0.089% | $583 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 201.63 | −0.090% | $119 | — | 10x | as long as short |
| BloFin COIN-USDTshort | +0.0120% | 8h | 201.67 | −0.069% | $199K | $341K | 20x | |
| Lighter COIN | +0.0168% | 1h | 201.60 | −0.103% | $376K | $1.8M | 10x | as long as short |
| Phoenix COINlong | +0.0237% | 1h | 201.81 | long leg | $5K | $279K | 10x | |
| edgeX COINUSDC | +0.0498% | 4h | 201.72 | −0.047% | $52K | $293K | 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
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
Lighter COIN
edgeX COINUSDC