Funding you earn now, next payment 04:00 UTC−0.0212%/8h= −23.2% APRpaid last 24h −0.034%
Price spread now: Orderly against Phemex+0.037%7-day average −0.052% · you sell dearer than you buy
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)+0.038%+$4 · spread now +0.037%, 7d avg −0.052%
=The price spread pays, funding is against you. Orderly is 0.089% dearer against Phemex than usual: you sell high and buy low (spread +0.037% now, against its 7-day average of −0.052%): +$9 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 34 hours. Mind the row above: over the last 7 days funding on this pair paid +0.101%, so the current rate has only just turned against you.
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 | Phemex NAS100USDT | 30,543.5 | 0 | get 0.0000% / 4h | 1h 23m | $1.4M | $175K | 10x |
| Short | Orderly PERP_NAS100_USDC | 30,554.9 | −0.0212 | pay 0.0212% / 8h | 5h 23m | $102K | $38K | 20x |
Phemex NAS100USDT
Orderly PERP_NAS100_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against Phemex. 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
- −$44.51
- Price spread: +0.037% → −0.052%
- $8.91
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$53.6
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Phemex: live order book, 4 min ago; Orderly: no order-book sample. 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 Phemex live order book, 4 min ago | 3.08 bp | 18.1 bp −$18 | doesn't fit | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
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_USDCshort | −0.0212% | 8h | 30,554.9 | +0.037% | $102K | $38K | 20x | |
| Gate NAS100_USDT | −0.0200% | 8h | 30,548.1 | +0.015% | $1.9M | $3.7M | 100x | as long as short |
| MEXC NAS100_USDT | −0.0090% | 8h | 30,567 | +0.077% | $24.6M | $19.5M | 200x | as long as short |
| OKX US100-USDT-SWAP | 0.0000% | 8h | 30,549 | +0.018% | $263K | $379K | 20x | as long as short |
| Bitget NDX100USDT | 0.0000% | 8h | 30,551 | +0.025% | $3.5M | $621K | 50x | as long as short |
| Bullet US100-USD | 0.0000% | 1h | 30,568 | +0.080% | $3K | $89K | 10x | as long as short |
| Phemex NAS100USDTlong | 0.0000% | 4h | 30,543.5 | long leg | $1.4M | $175K | 10x | |
| QFEX US100-USD | +0.0004% | 1h | 30,565 | +0.070% | $1.3M | $1.1M | 30x | as long as short |
| Lighter US100 | +0.0032% | 1h | 30,563 | +0.064% | $3.9M | $95.4M | 30x | as long as short |
| Extended TECH100m-USD | +0.0032% | 1h | 30,567.8 | +0.080% | $2.2M | $5.3M | 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 | 30,860.9 | +1.039% | — | $194.4M | 50x | as long as short |
| Paradex US100-USD-PERP | +0.0050% | 8h | 30,561.9 | +0.060% | — | — | 5x | as long as short |
| Polymarket Perps NAS100-USD | +0.0050% | 1h | 30,567 | +0.077% | $7.2M | $1.9M | 50x | as long as short |
| Ondo Perps US100-USD.P | +0.0130% | 1h | 30,580 | +0.120% | $6.0M | $8.5M | 25x | as long as short |
| Kraken Futures PF_US100USD | +0.2811% | 1h | 30,644.5 | +0.330% | $131K | $127K | 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