Funding you earn now, next payment 04:00 UTC−0.0990%/8h= −108.4% APRnext payment −$1.24 per $10,000 · paid last 24h −0.141%
Price spread now: tradeXYZ against Phoenix−0.303%7-day average −0.078% · you buy dearer than you sell
Net, funding: paid 7d − costs−$103as in the Funding arb table
Net, price: spread back to 7d avg − costs−$65as in the Price arb table
costs, in and out, $10k−$430.425% of the position
Funding, last 7 days−0.609%−$61 on $10k
+Price spread, last 4 days (all we have)+0.249%+$25 · spread now −0.303%, 7d avg −0.078%
=Together, before fees−0.360%+ Points / potential airdroptradeXYZ: Active · farm board−$36 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$30 a day on $10k at the current rate, and tradeXYZ is 0.224% cheaper against Phoenix than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.078%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.609% in total (about -31.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.24 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 DELL | 575.17 | 0.1040 | pay 0.0130% / 1h | 37m 11s | $3K | $260K | 10x |
| Short | tradeXYZ xyz:DELL | 573.43 | 0.0050 | get 0.0006% / 1h | 37m 11s | $7.5M | $7.0M | 10x |
Phoenix DELL
tradeXYZ xyz:DELLFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- −$207.9
- Price spread: −0.303% → −0.078%
- −$22.43
- Slippage, 4 orders
- −$17.51
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$272.84
- Costs to cover
- 0.425%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 13 min ago; tradeXYZ: live order book, 1 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, 13 min ago | 2.78 bp | 9.6 bp −$10 | 19.3 bp −$193 | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 1 min ago | 1.13 bp | 12.9 bp −$13 | doesn't fit | 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 | 573.58 | −0.276% | $20K | $50K | 20x | as long as short |
| Gate DELL_USDT | 0.0000% | 8h | 574.21 | −0.167% | $4.1M | $7.2M | 50x | as long as short |
| Bitget DELLUSDT | 0.0000% | 8h | 574.14 | −0.179% | $3.6M | $4.6M | 20x | as long as short |
| Lighter DELL | +0.0032% | 1h | 574.51 | −0.115% | $34K | $13K | 10x | as long as short |
| Injective DELL/USDC PERP | +0.0033% | 1h | 571.67 | −0.609% | $8K | $83K | 12x | as long as short |
| tradeXYZ xyz:DELLshort | +0.0050% | 1h | 573.43 | −0.303% | $7.5M | $7.0M | 10x | |
| Polymarket Perps DELL-USD | +0.0050% | 1h | 573.71 | −0.254% | $7K | $54K | 10x | as long as short |
| KuCoin DELLUSDTM | +0.0100% | 8h | 573.66 | −0.263% | $940K | $29K | 20x | as long as short |
| Orderly PERP_DELL_USDC_mythos | +0.0100% | 8h | 574.70 | −0.082% | $3K | $336 | 10x | as long as short |
| HTX DELL-USDT | +0.0100% | 8h | 574.44 | −0.127% | $17K | $59K | 10x | as long as short |
Aster DELLUSDT
Gate DELL_USDT
Bitget DELLUSDT
Lighter DELL
Injective DELL/USDC PERP
Polymarket Perps DELL-USD
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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit DELLUSDT | +0.0188% | 8h | 573.91 | −0.219% | $6.1M | $3.9M | 50x | as long as short |
| OKX DELL-USDT-SWAP | +0.0389% | 8h | 574.29 | −0.153% | $5.8M | $6.6M | 20x | as long as short |
| Variational Omni DELL | +0.0612% | 8h | 575.11 | −0.011% | $262K | $64K | — | as long as short |
| GRVT DELL_USDT_Perp | +0.0625% | 8h | 574.42 | −0.130% | $913 | $153K | 10x | as long as short |
| Extended DELL-USD | +0.0696% | 1h | 574.04 | −0.197% | $333K | $1.2M | 10x | as long as short |
| Binance DELLUSDT | +0.0700% | 8h | 574.25 | −0.160% | $18.5M | $65.9M | 20x | as long as short |
| BloFin DELL-USDT | +0.0704% | 8h | 574.15 | −0.177% | $323K | $219K | 20x | as long as short |
| Nado DELL-PERP | +0.0828% | 1h | 573.66 | −0.262% | $69K | $20K | 10x | as long as short |
| edgeX DELLUSDC | +0.0878% | 4h | 574.38 | −0.138% | $5K | $333K | 10x | as long as short |
| Phoenix DELLlong | +0.1040% | 1h | 575.17 | long leg | $3K | $260K | 10x |
Bybit DELLUSDT
OKX DELL-USDT-SWAP
Variational Omni DELL
GRVT DELL_USDT_Perp
Extended DELL-USD
Binance DELLUSDT
BloFin DELL-USDT
Nado DELL-PERP
edgeX DELLUSDC