Funding you earn now, next payment 23:00 UTC−0.0192%/8h= −21.0% APRnext payment −$0.24 per $10,000 · paid last 24h −0.054%
Price spread now: Vest against Phoenix+0.040%7-day average +0.127% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.025%−$2 on $10k
+Price spread, last 3 days (all we have)+0.054%+$5 · spread now +0.040%, 7d avg +0.127%
=Together, before fees+0.029%+ Points / potential airdropVest: Active · farm board+$3 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Vest is 0.088% cheaper against Phoenix than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.127%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.025% in total (about -2.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.24 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 | 201.85 | 0.0238 | pay 0.0030% / 1h | 13m 13s | $5K | $279K | 10x |
| Short | Vest COIN-USD-PERP | 201.93 | 0.0046 | get 0.0006% / 1h | 13m 13s | — | $513K | 25x |
Phoenix COIN
Vest COIN-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Vest 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
- −$40.33
- Price spread: +0.040% → +0.127%
- −$8.75
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Vest: 1 bp × 2 orders
- −$2
- Net
- −$58.08
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 60 min ago; Vest: 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, 60 min ago | 2.97 bp | 10.6 bp −$11 | 22.1 bp −$221 | doesn't fit | doesn't fit |
| Sell Vest no order-book sample | — | — | — | — | — |
Vest: 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 | 201.55 | −0.149% | $44K | $49K | 30x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 202.02 | +0.086% | $370K | $839K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 201.92 | +0.034% | $119K | $446K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 201.95 | +0.050% | $15.7M | $76.6M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 201.96 | +0.054% | $5.0M | $5.9M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 201.99 | +0.069% | $3.3M | $4.7M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 201.96 | +0.054% | $1.3M | $7.0M | 50x | as long as short |
| Bitget COINUSDT | 0.0000% | 8h | 202.00 | +0.074% | $6.9M | $10.1M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 202.06 | +0.102% | $840K | $1.1M | — | as long as short |
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 201.91 | +0.030% | $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 | +0.0032% | 1h | 201.85 | 0.000% | $1.4M | $4.0M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 201.94 | +0.045% | $435K | $1.8M | 10x | as long as short |
| Lighter COIN | +0.0040% | 1h | 201.94 | +0.047% | $377K | $2.0M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 202.10 | +0.124% | $16K | $55K | 5x | as long as short |
| Vest COIN-USD-PERPshort | +0.0046% | 1h | 201.93 | +0.040% | — | $513K | 25x | |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 201.85 | 0.000% | $129K | $1.2M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 201.95 | +0.050% | $85 | $3K | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 201.69 | −0.079% | $361K | $3.3M | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 202.05 | +0.099% | $1.0M | $138K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 202.11 | +0.129% | $91K | $310K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 201.98 | +0.064% | $584 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 201.92 | +0.034% | $119 | — | 10x | as long as short |
| tradeXYZ xyz:COIN | +0.0114% | 1h | 201.91 | +0.030% | $16.6M | $13.2M | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 201.97 | +0.059% | $200K | $342K | 20x | as long as short |
| edgeX COINUSDC | +0.0147% | 4h | 202.06 | +0.106% | $52K | $295K | 10x | as long as short |
| Phoenix COINlong | +0.0238% | 1h | 201.85 | long leg | $5K | $279K | 10x |
QFEX COIN-USD
Lighter RH COIN
Lighter COIN
Arcus COIN-USD
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
tradeXYZ xyz:COIN
BloFin COIN-USDT
edgeX COINUSDC