Funding you earn now, next payment 08:00 UTC+0.0282%/8h= +30.9% APRpaid last 24h +0.034%
Price spread now: Phemex against Orderly−0.149%7-day average +0.042% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.101%−$10 on $10k
+Price spread, last 4 days (all we have)+0.342%+$34 · spread now −0.149%, 7d avg +0.042%
=Funding pays, the price is against you. Phemex is 0.191% cheaper against Orderly than usual: you would sell low and buy high (spread −0.149% now, against its 7-day average of +0.042%). If the spread goes back, that is −$19 on $10k: about 2.3 days of funding at the current rate (+$8 a day). Mind the row above: over the last 7 days funding on this pair cost −0.101%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.101% in total (about -5.3% 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 | Orderly PERP_NAS100_USDC | 30,460.7 | −0.0282 | get 0.0282% / 8h | 6m 14s | $101K | $38K | 20x |
| Short | Phemex NAS100USDT | 30,415.3 | 0 | get 0.0000% / 4h | 6m 14s | $1.4M | $196K | 10x |
Orderly PERP_NAS100_USDC
Phemex NAS100USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Orderly. 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
- $59.24
- Price spread: −0.149% → +0.042%
- −$19.07
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- $22.18
- Costs to cover
- 0.180%
- Break-even
- 4.4 days
Slippage unknown: Orderly: no order-book sample; Phemex: live order book, 2 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 2 min ago | 9.07 bp | 22.4 bp −$22 | doesn't fit | doesn't fit | doesn't fit |
Orderly: 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.
NAS100 on 15 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 | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_NAS100_USDClong | −0.0282% | 8h | 30,460.7 | long leg | $101K | $38K | 20x | |
| Gate NAS100_USDT | −0.0200% | 8h | 30,428 | −0.107% | $2.0M | $3.3M | 100x | as long as short |
| MEXC NAS100_USDT | −0.0067% | 8h | 30,471 | +0.034% | $23.0M | $21.2M | 200x | as long as short |
| OKX US100-USDT-SWAP | 0.0000% | 8h | 30,438 | −0.075% | $266K | $387K | 20x | as long as short |
| Bitget NDX100USDT | 0.0000% | 8h | 30,491 | +0.099% | $3.5M | $630K | 50x | as long as short |
| Bullet US100-USD | 0.0000% | 1h | 30,471.2 | +0.034% | $3K | $91K | 10x | as long as short |
| Phemex NAS100USDTshort | 0.0000% | 4h | 30,415.3 | −0.149% | $1.4M | $196K | 10x | |
| QFEX US100-USD | 0.0000% | 1h | 30,471 | +0.034% | $1.3M | $1.3M | 30x | as long as short |
| Lighter US100 | +0.0032% | 1h | 30,468 | +0.024% | $3.9M | $96.9M | 30x | as long as short |
| Extended TECH100m-USD | +0.0032% | 1h | 30,475.7 | +0.049% | $1.9M | $5.4M | 20x | as long as short |
Gate NAS100_USDT
MEXC NAS100_USDT
OKX US100-USDT-SWAP
Bitget NDX100USDT
Bullet US100-USD
QFEX US100-USD
Lighter US100
Extended TECH100m-USDShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest NDX-USD-PERP | +0.0046% | 1h | 30,767.5 | +1.007% | — | $202.9M | 50x | as long as short |
| Paradex US100-USD-PERP | +0.0050% | 8h | 30,468.6 | +0.026% | — | — | 5x | as long as short |
| Polymarket Perps NAS100-USD | +0.0050% | 1h | 30,472 | +0.037% | $7.2M | $2.0M | 50x | as long as short |
| Ondo Perps US100-USD.P | +0.0050% | 1h | 30,469.3 | +0.028% | $6.0M | $9.1M | 25x | as long as short |
| Kraken Futures PF_US100USD | +0.1162% | 1h | 30,448.9 | −0.039% | $141K | $128K | 20x | as long as short |
Vest NDX-USD-PERP
Paradex US100-USD-PERP
Polymarket Perps NAS100-USD
Ondo Perps US100-USD.P
Kraken Futures PF_US100USD