Funding you earn now, next payment 07:00 UTC−0.0893%/8h= −97.8% APRpaid last 24h −0.128%
Price spread now: Gate against Phoenix+0.068%107s7-day average −0.032% · you sell dearer than you buy
Net, funding: paid 7d − costs−$88as 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−$470.474% of the position
Funding, last 7 days−0.410%−$41 on $10k
+Price spread, last 4 days (all we have)+0.474%+$47 · spread now +0.068%, 7d avg −0.032%
=The price spread pays, funding is against you. Gate is 0.100% dearer against Phoenix than usual: you sell high and buy low (spread +0.068% now, against its 7-day average of −0.032%): +$10 on $10k if it goes back. Holding the pair costs −$27 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 7 days (−0.410% in total) that is about 41 hours. The two prices were read 107 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 -0.410% in total (about -21.4% a year). A funding rate is set anew for every payment. 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 DELL | 572.56 | 0.0893 | pay 0.0112% / 1h | 11m 37s | $3K | $228K | 10x |
| Short | Gate DELL_USDT | 572.95 | 0 | get 0.0000% / 8h | 11m 37s | $4.1M | $7.0M | 50x |
Phoenix DELL
Gate DELL_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
- −$187.52
- Price spread: +0.068% → −0.032%
- $9.97
- Slippage, 4 orders
- −$25.36
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$224.92
- Costs to cover
- 0.474%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 23 min ago; Gate: 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, 23 min ago | 2.79 bp | 9.9 bp −$10 | 20.0 bp −$200 | doesn't fit | doesn't fit |
| Sell Gate live order book, 2 min ago | 3.49 bp | 12.3 bp −$12 | 33.1 bp −$331 | 73.2 bp −$7,318 | doesn't fit |
DELL on 20 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster DELLUSDT | 0.0000% | 8h | 572.43 | −0.022% | $20K | $49K | 20x | as long as short |
| Gate DELL_USDTshort | 0.0000% | 8h | 572.95 | +0.068% | $4.1M | $7.0M | 50x | |
| Bitget DELLUSDT | 0.0000% | 8h | 573.10 | +0.094% | $3.6M | $4.6M | 20x | as long as short |
| Bybit DELLUSDT | +0.0019% | 8h | 572.81 | +0.044% | $6.1M | $4.0M | 50x | as long as short |
| Lighter DELL | +0.0032% | 1h | 573.29 | +0.127% | $33K | $12K | 10x | as long as short |
| Injective DELL/USDC PERP | +0.0033% | 1h | 571.67 | −0.155% | $8K | $83K | 12x | as long as short |
| tradeXYZ xyz:DELL | +0.0086% | 1h | 572.32 | −0.042% | $7.5M | $6.9M | 10x | as long as short |
| KuCoin DELLUSDTM | +0.0100% | 8h | 572.53 | −0.005% | $938K | $33K | 20x | as long as short |
| Orderly PERP_DELL_USDC_mythos | +0.0100% | 8h | 573.58 | +0.178% | $3K | $336 | 10x | as long as short |
| HTX DELL-USDT | +0.0100% | 8h | 572.30 | −0.045% | $18K | $58K | 10x | as long as short |
Aster DELLUSDT
Bitget DELLUSDT
Bybit DELLUSDT
Lighter DELL
Injective DELL/USDC PERP
tradeXYZ xyz:DELL
KuCoin DELLUSDTM
Orderly PERP_DELL_USDC_mythos
HTX DELL-USDTShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps DELL-USD | +0.0121% | 1h | 572.84 | +0.049% | $7K | $55K | 10x | as long as short |
| OKX DELL-USDT-SWAP | +0.0182% | 8h | 572.81 | +0.044% | $5.9M | $6.7M | 20x | as long as short |
| Variational Omni DELL | +0.0313% | 8h | 572.61 | +0.008% | $258K | $61K | — | as long as short |
| BloFin DELL-USDT | +0.0386% | 8h | 573.26 | +0.122% | $325K | $233K | 20x | as long as short |
| Binance DELLUSDT | +0.0414% | 8h | 572.85 | +0.051% | $18.3M | $66.6M | 20x | as long as short |
| Extended DELL-USD | +0.0416% | 1h | 572.68 | +0.021% | $332K | $2.6M | 10x | as long as short |
| edgeX DELLUSDC | +0.0448% | 4h | 572.66 | +0.018% | $5K | $335K | 10x | as long as short |
| GRVT DELL_USDT_Perp | +0.0459% | 8h | 573.14 | +0.101% | $728 | $146K | 10x | as long as short |
| Nado DELL-PERP | +0.0645% | 1h | 572.88 | +0.056% | $69K | $20K | 10x | as long as short |
| Phoenix DELLlong | +0.0893% | 1h | 572.56 | long leg | $3K | $228K | 10x |
Polymarket Perps DELL-USD
OKX DELL-USDT-SWAP
Variational Omni DELL
BloFin DELL-USDT
Binance DELLUSDT
Extended DELL-USD
edgeX DELLUSDC
GRVT DELL_USDT_Perp
Nado DELL-PERP