Funding you earn now, next payment 06:00 UTC−0.0163%/8h= −17.9% APRpaid last 24h +0.001%
Price spread now: Gate against Phoenix+0.097%47s7-day average +0.003% · you sell dearer than you buy
Net, funding: paid 7d − costs−$60as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$500.499% of the position
Funding, last 7 days−0.097%−$10 on $10k
+Price spread, last 4 days (all we have)−0.019%−$2 · spread now +0.097%, 7d avg +0.003%
=The price spread pays, funding is against you. Gate is 0.094% dearer against Phoenix than usual: you sell high and buy low (spread +0.097% now, against its 7-day average of +0.003%): +$9 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 46 hours. At the pace of the last 7 days (−0.097% in total) that is about 6.8 days. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix COIN | 195.80 | 0.0163 | pay 0.0020% / 1h | 22m 25s | $4K | $283K | 10x |
| Short | Gate COIN_USDT | 195.99 | 0 | get 0.0000% / 8h | 1h 22m | $1.2M | $7.4M | 50x |
Phoenix COIN
Gate COIN_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$34.27
- Price spread: +0.097% → +0.003%
- $9.36
- Slippage, 4 orders
- −$27.9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$74.8
- Costs to cover
- 0.499%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 15 min ago; Gate: live order book, 1 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, 15 min ago | 3.07 bp | 10.8 bp −$11 | 22.3 bp −$223 | doesn't fit | doesn't fit |
| Sell Gate live order book, 1 min ago | 5.10 bp | 14.0 bp −$14 | 43.8 bp −$438 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget COINUSDT | −0.0675% | 8h | 196.11 | +0.158% | $6.4M | $10.6M | 20x | as long as short |
| Injective COIN/USDC PERP | −0.0440% | 1h | 195.85 | +0.026% | $43K | $48K | 30x | as long as short |
| Vest COIN-USD-PERP | −0.0097% | 1h | 195.42 | −0.194% | — | $322K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 195.74 | −0.031% | $342K | $890K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 195.94 | +0.073% | $116K | $790K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 195.99 | +0.097% | $15.0M | $82.2M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 195.93 | +0.066% | $4.7M | $6.2M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 195.99 | +0.097% | $3.0M | $4.7M | 20x | as long as short |
| Gate COIN_USDTshort | 0.0000% | 8h | 195.99 | +0.097% | $1.2M | $7.4M | 50x | |
| Variational Omni COIN | 0.0000% | 8h | 195.90 | +0.051% | $711K | $973K | — | as long as short |
Bitget COINUSDT
Injective COIN/USDC PERP
Vest COIN-USD-PERP
Aster COINUSDT
Extended COIN_24_5-USD
Binance COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
Variational Omni COINShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 195.71 | −0.046% | $12K | $2.7M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 195.91 | +0.056% | $461K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 195.98 | +0.092% | $15K | $54K | 5x | as long as short |
| QFEX COIN-USD | +0.0045% | 1h | 195.94 | +0.072% | $1.3M | $2.9M | 10x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 195.79 | −0.005% | $15.2M | $13.2M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 195.82 | +0.010% | $130K | $1.4M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 195.95 | +0.077% | $74 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 195.80 | 0.000% | $444K | $2.8M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 195.75 | −0.026% | $986K | $136K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 195.53 | −0.138% | $88K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 195.88 | +0.041% | $566 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 195.96 | +0.082% | $116 | — | 10x | as long as short |
| Lighter COIN | +0.0112% | 1h | 195.93 | +0.064% | $364K | $2.3M | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 196.01 | +0.107% | $187K | $427K | 20x | as long as short |
| Phoenix COINlong | +0.0163% | 1h | 195.80 | long leg | $4K | $283K | 10x | |
| edgeX COINUSDC | +0.0357% | 4h | 195.66 | −0.072% | $50K | $294K | 10x | as long as short |
GRVT COIN_USDT_Perp
Lighter RH COIN
Arcus COIN-USD
QFEX COIN-USD
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
BloFin COIN-USDT
edgeX COINUSDC