Funding you earn now, next payment 10:00 UTC+0.0035%/8h= +3.8% APRnext payment +$0.04 per $10,000 · paid last 24h +0.053%
Price spread now: Phoenix against Vest−0.045%7-day average −0.086% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.053%+$5 on $10k
+Price spread, last 4 days (all we have)−0.051%−$5 · spread now −0.045%, 7d avg −0.086%
=Together, before fees+0.002%+ Points / potential airdropVest: Active · farm board$0 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Phoenix is 0.041% dearer against Vest than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.086%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Vest COIN-USD-PERP | 198.86 | 0.0046 | pay 0.0006% / 1h | 56m 41s | — | $277K | 25x |
| Short | Phoenix COIN | 198.77 | 0.0081 | get 0.0010% / 1h | 56m 41s | $5K | $268K | 10x |
Vest COIN-USD-PERP
Phoenix COINFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Vest. 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
- $7.32
- Price spread: −0.045% → −0.086%
- $4.12
- Slippage, 4 orders
- no order book: not counted
- Fee Vest: 1 bp × 2 orders
- −$2
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $2.44
- Costs to cover
- 0.090%
- Break-even
- 4.7 days
Slippage unknown: Vest: no order-book sample; Phoenix: live order book, 47 min ago. 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 Vest no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 47 min ago | 3.03 bp | 11.0 bp −$11 | 23.1 bp −$231 | doesn't fit | doesn't fit |
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 exchanges
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 | 197.59 | −0.639% | $17K | $222K | 30x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 198.78 | −0.040% | $346K | $868K | 20x | as long as short |
| Extended COIN_24_5-USD | 0.0000% | 1h | 198.90 | +0.020% | $107K | $873K | 10x | as long as short |
| Binance COINUSDT | 0.0000% | 8h | 198.97 | +0.055% | $14.7M | $74.8M | 20x | as long as short |
| Bybit COINUSDT | 0.0000% | 8h | 198.93 | +0.035% | $4.7M | $5.3M | 50x | as long as short |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 198.94 | +0.040% | $3.1M | $4.2M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 198.99 | +0.065% | $1.2M | $6.1M | 50x | as long as short |
| Bitget COINUSDT | 0.0000% | 8h | 198.99 | +0.065% | $6.4M | $9.4M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 198.82 | −0.019% | $785K | $901K | — | as long as short |
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 198.82 | −0.020% | $22K | $3.3M | 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 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter COIN | +0.0032% | 1h | 198.86 | +0.002% | $345K | $1.9M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 198.86 | 0.000% | $484K | $1.1M | 10x | as long as short |
| QFEX COIN-USD | +0.0033% | 1h | 198.89 | +0.015% | $1.3M | $2.5M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 199.07 | +0.106% | $20K | $31K | 5x | as long as short |
| Vest COIN-USD-PERPlong | +0.0046% | 1h | 198.86 | long leg | — | $277K | 25x | |
| tradeXYZ xyz:COIN | +0.0050% | 1h | 198.78 | −0.040% | $14.7M | $11.1M | 10x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 198.93 | +0.035% | $122K | $1.2M | 10x | as long as short |
| Ondo Perps COIN-USD.P | +0.0050% | 1h | 198.61 | −0.126% | $324K | $2.1M | 10x | as long as short |
| Phoenix COINshort | +0.0081% | 1h | 198.77 | −0.045% | $5K | $268K | 10x | |
| KuCoin COINUSDTM | +0.0100% | 8h | 198.82 | −0.020% | $938K | $255K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 198.62 | −0.121% | $89K | $272K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 198.86 | 0.000% | $575 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 199.01 | +0.077% | $117 | — | 10x | as long as short |
| BloFin COIN-USDT | +0.0120% | 8h | 199.09 | +0.116% | $195K | $482K | 20x | as long as short |
| SoDEX COIN-USD | +0.0125% | 1h | 198.93 | +0.035% | $89 | $3K | 10x | as long as short |
| edgeX COINUSDC | +0.0252% | 4h | 198.70 | −0.081% | $51K | $292K | 10x | as long as short |
Lighter COIN
Lighter RH COIN
QFEX COIN-USD
Arcus COIN-USD
tradeXYZ xyz:COIN
Polymarket Perps COIN-USD
Ondo Perps COIN-USD.P
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
BloFin COIN-USDT
SoDEX COIN-USD
edgeX COINUSDC