Funding you earn now, next payment 08:00 UTC−0.0319%/8h= −34.9% APRnext payment −$0.40 per $10,000 · paid last 24h −0.044%
Price spread now: Ondo Perps against Phoenix−0.373%48s7-day average −0.085% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.195%−$20 on $10k
+Price spread, last 4 days (all we have)+0.399%+$40 · spread now −0.373%, 7d avg −0.085%
=Together, before fees+0.204%+ Points / potential airdropOndo Perps: Active · farm board+$20 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Ondo Perps is 0.288% cheaper against Phoenix than usual: you would sell low and buy high (−$29 if the spread goes back to its 7-day average of −0.085%). Swap the legs. The two prices were read 48 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 -0.195% in total (about -10.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.40 per $10,000. 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 COIN | 198.21 | 0.0164 | pay 0.0020% / 1h | 56m 25s | $5K | $253K | 10x |
| Short | Ondo Perps COIN-USD.P | 197.47 | −0.0155 | pay 0.0019% / 1h | 56m 25s | $380K | $2.3M | 10x |
Phoenix COIN
Ondo Perps COIN-USD.PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Ondo Perps 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
- −$66.97
- Price spread: −0.373% → −0.085%
- −$28.83
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Net
- −$107.8
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 31 min ago; Ondo Perps: no order-book sample. 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 live order book, 31 min ago | 3.60 bp | 12.1 bp −$12 | 26.1 bp −$261 | doesn't fit | doesn't fit |
| Sell Ondo Perps no order-book sample | — | — | — | — | — |
Ondo Perps: 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.
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 | −0.540% | $17K | $224K | 30x | as long as short |
| Ondo Perps COIN-USD.Pshort | −0.0155% | 1h | 197.47 | −0.373% | $380K | $2.3M | 10x | |
| Vest COIN-USD-PERP | −0.0018% | 1h | 197.61 | −0.303% | — | $322K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 197.86 | −0.174% | $345K | $879K | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 197.77 | −0.222% | $4.7M | $5.8M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 197.67 | −0.272% | $3.1M | $4.7M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 197.73 | −0.242% | $1.2M | $6.5M | 50x | as long as short |
| Bitget COINUSDT | 0.0000% | 8h | 197.71 | −0.252% | $6.4M | $10.0M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 197.99 | −0.112% | $672K | $831K | — | as long as short |
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 198.26 | +0.025% | $14K | $3.0M | 10x | as long as short |
Injective COIN/USDC PERP
Vest COIN-USD-PERP
Aster 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 | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:COIN | +0.0007% | 1h | 197.65 | −0.283% | $14.9M | $12.3M | 10x | as long as short |
| Binance COINUSDT | +0.0023% | 8h | 197.79 | −0.214% | $14.6M | $79.1M | 20x | as long as short |
| Extended COIN_24_5-USD | +0.0024% | 1h | 197.75 | −0.230% | $105K | $848K | 10x | as long as short |
| Lighter COIN | +0.0032% | 1h | 197.70 | −0.258% | $357K | $2.0M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 197.71 | −0.252% | $471K | $1.2M | 10x | as long as short |
| QFEX COIN-USD | +0.0036% | 1h | 197.69 | −0.262% | $1.3M | $2.7M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 197.89 | −0.161% | $17K | $37K | 5x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 197.67 | −0.272% | $138K | $1.4M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 197.70 | −0.257% | $75 | $3K | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 197.80 | −0.207% | $933K | $228K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 198.00 | −0.106% | $89K | $280K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 197.75 | −0.232% | $572 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 197.70 | −0.257% | $117 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0108% | 8h | 197.91 | −0.151% | $190K | $489K | 20x | as long as short |
| Phoenix COINlong | +0.0164% | 1h | 198.21 | long leg | $5K | $253K | 10x | |
| edgeX COINUSDC | +0.0632% | 4h | 198.03 | −0.093% | $51K | $293K | 10x | as long as short |
tradeXYZ xyz:COIN
Binance COINUSDT
Extended COIN_24_5-USD
Lighter COIN
Lighter RH COIN
QFEX COIN-USD
Arcus COIN-USD
Polymarket Perps COIN-USD
SoDEX COIN-USD
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
BloFin COIN-USDT
edgeX COINUSDC