Funding you earn now, next payment 03:00 UTC−0.0243%/8h= −26.6% APRpaid last 24h −0.095%
Price spread now: OKX against Phoenix−0.061%96s7-day average +0.013% · you buy dearer than you sell
Net, funding: paid 7d − costs−$99as 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−$430.433% of the position
Funding, last 7 days−0.554%−$55 on $10k
+Price spread, last 4 days (all we have)+0.097%+$10 · spread now −0.061%, 7d avg +0.013%
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and OKX is 0.074% cheaper against Phoenix than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.013%). Swap the legs. The two prices were read 96 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix DELL | 578.45 | 0.0679 | pay 0.0085% / 1h | 35m 57s | $3K | $258K | 10x |
| Short | OKX DELL-USDT-SWAP | 578.10 | 0.0436 | get 0.0436% / 8h | 4h 35m | $5.9M | $6.6M | 20x |
Phoenix DELL
OKX DELL-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$50.97
- Price spread: −0.061% → +0.013%
- −$7.36
- Slippage, 4 orders
- −$26.3
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$101.63
- Costs to cover
- 0.433%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 19 min ago; OKX: 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, 19 min ago | 2.60 bp | 9.4 bp −$9 | 18.6 bp −$186 | doesn't fit | doesn't fit |
| Sell OKX live order book, 2 min ago | 0.78 bp | 13.8 bp −$14 | 52.1 bp −$521 | doesn't fit | 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 | 577.38 | −0.185% | $21K | $50K | 20x | as long as short |
| Gate DELL_USDT | 0.0000% | 8h | 578.07 | −0.066% | $4.1M | $7.3M | 50x | as long as short |
| Bitget DELLUSDT | 0.0000% | 8h | 578.03 | −0.073% | $3.6M | $4.6M | 20x | as long as short |
| Lighter DELL | +0.0032% | 1h | 578.54 | +0.016% | $34K | $13K | 10x | as long as short |
| Injective DELL/USDC PERP | +0.0033% | 1h | 571.67 | −1.172% | $8K | $83K | 12x | as long as short |
| Bybit DELLUSDT | +0.0058% | 8h | 578.04 | −0.071% | $6.2M | $3.9M | 50x | as long as short |
| tradeXYZ xyz:DELL | +0.0083% | 1h | 577.48 | −0.168% | $7.6M | $7.0M | 10x | as long as short |
| KuCoin DELLUSDTM | +0.0100% | 8h | 577.63 | −0.142% | $947K | $29K | 20x | as long as short |
| Orderly PERP_DELL_USDC_mythos | +0.0100% | 8h | 578.96 | +0.088% | $3K | $336 | 10x | as long as short |
| HTX DELL-USDT | +0.0100% | 8h | 578.44 | −0.002% | $17K | $58K | 10x | as long as short |
Aster DELLUSDT
Gate DELL_USDT
Bitget DELLUSDT
Lighter DELL
Injective DELL/USDC PERP
Bybit DELLUSDT
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 | +0.0219% | 1h | 578.04 | −0.071% | $7K | $54K | 10x | as long as short |
| edgeX DELLUSDC | +0.0257% | 4h | 578.36 | −0.016% | $5K | $334K | 10x | as long as short |
| OKX DELL-USDT-SWAPshort | +0.0436% | 8h | 578.10 | −0.061% | $5.9M | $6.6M | 20x | |
| GRVT DELL_USDT_Perp | +0.0476% | 8h | 578.61 | +0.028% | $654 | $151K | 10x | as long as short |
| Variational Omni DELL | +0.0532% | 8h | 578.21 | −0.041% | $264K | $86K | — | as long as short |
| Binance DELLUSDT | +0.0628% | 8h | 578.26 | −0.033% | $19.0M | $65.9M | 20x | as long as short |
| Extended DELL-USD | +0.0632% | 1h | 578.11 | −0.058% | $335K | $1.2M | 10x | as long as short |
| BloFin DELL-USDT | +0.0647% | 8h | 578.58 | +0.022% | $323K | $221K | 20x | as long as short |
| Phoenix DELLlong | +0.0679% | 1h | 578.45 | long leg | $3K | $258K | 10x | |
| Nado DELL-PERP | +0.0766% | 1h | 577.44 | −0.174% | $69K | $18K | 10x | as long as short |
Polymarket Perps DELL-USD
edgeX DELLUSDC
GRVT DELL_USDT_Perp
Variational Omni DELL
Binance DELLUSDT
Extended DELL-USD
BloFin DELL-USDT
Nado DELL-PERP