Funding you earn now, next payment 01:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.028%
Price spread now: KuCoin against Phoenix−0.268%7-day average −0.018% · you buy dearer than you sell
Net, funding: paid 7d − costs−$167as in the Funding arb table
Net, price: spread back to 7d avg − costs−$183as in the Price arb table
costs, in and out, $10k−$1581.584% of the position
Funding, last 7 days−0.083%−$8 on $10k
+Price spread, last 4 days (all we have)+0.514%+$51 · spread now −0.268%, 7d avg −0.018%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and KuCoin is 0.250% cheaper against Phoenix than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of −0.018%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix COIN | 198.09 | 0.0160 | pay 0.0020% / 1h | 36m 59s | $5K | $251K | 10x |
| Short | KuCoin COINUSDTM | 197.56 | 0.0100 | get 0.0100% / 8h | 6h 36m | $982K | $138K | 20x |
Phoenix COIN
KuCoin COINUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$12.59
- Price spread: −0.268% → −0.018%
- −$24.96
- Slippage, 4 orders
- −$139.37
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$195.92
- Costs to cover
- 1.584%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 26 min ago; KuCoin: live order book, 2 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, 26 min ago | 2.99 bp | 10.9 bp −$11 | 22.8 bp −$228 | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 2 min ago | 17.21 bp | 55.0 bp −$55 | doesn't fit | 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 | 197.14 | −0.480% | $43K | $48K | 30x | as long as short |
| Bitget COINUSDT | −0.0182% | 8h | 197.73 | −0.182% | $6.5M | $10.3M | 20x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 197.73 | −0.184% | $360K | $851K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 197.57 | −0.262% | $117K | $699K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 197.59 | −0.252% | $14.9M | $78.2M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 197.60 | −0.247% | $4.9M | $6.0M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 197.54 | −0.278% | $3.1M | $4.5M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 197.56 | −0.268% | $1.3M | $6.9M | 50x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 197.93 | −0.079% | $820K | $1.0M | — | as long as short |
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 197.51 | −0.293% | $17K | $2.0M | 10x | as long as short |
Injective COIN/USDC PERP
Bitget COINUSDT
Aster COINUSDT
Extended COIN_24_5-USD
Binance COINUSDT
Bybit COINUSDT
OKX COIN-USDT-SWAP
Gate COIN_USDT
Variational Omni COIN
GRVT COIN_USDT_PerpShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest COIN-USD-PERP | +0.0003% | 1h | 197.11 | −0.495% | — | $289K | 25x | as long as short |
| QFEX COIN-USD | +0.0028% | 1h | 197.62 | −0.237% | $1.3M | $3.7M | 10x | as long as short |
| Lighter COIN | +0.0032% | 1h | 197.53 | −0.282% | $388K | $2.0M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 197.49 | −0.303% | $428K | $1.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 197.69 | −0.202% | $16K | $53K | 5x | as long as short |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 197.58 | −0.257% | $15.9M | $13.4M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 197.61 | −0.242% | $127K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 197.38 | −0.358% | $96 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 197.16 | −0.469% | $349K | $3.2M | 10x | as long as short |
| KuCoin COINUSDTMshort | +0.0100% | 8h | 197.56 | −0.268% | $982K | $138K | 20x | |
| ApeX Omni COINUSDT | +0.0100% | 1h | 197.35 | −0.374% | $89K | $287K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 197.61 | −0.242% | $571 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 197.50 | −0.297% | $117 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 199.02 | +0.469% | $198K | $377K | 20x | as long as short |
| Phoenix COINlong | +0.0160% | 1h | 198.09 | long leg | $5K | $251K | 10x | |
| edgeX COINUSDC | +0.0344% | 4h | 197.30 | −0.397% | $51K | $294K | 10x | as long as short |
Vest COIN-USD-PERP
QFEX COIN-USD
Lighter COIN
Lighter RH COIN
Arcus COIN-USD
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
SoDEX COIN-USD
Ondo Perps COIN-USD.P
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
BloFin COIN-USDT
edgeX COINUSDC