Phoenix
dexMaker 0.005% Β· Taker 0.035%
- #28 of 44 perp-DEXs by open interest
- #30 by 24h volume
- taker 0.035% β cheaper than 25 of 42 venues
- 96 markets
Charts
Daily history. TVL and fees come from DefiLlama, open interest and volume from our own feed since we started tracking the venue.Best pairs with Phoenix right now
delta-neutral: long on one exchange, short on anotherNothing here clears the liquidity bar right now.
Widest gap: IREN +353.40% Β· thinner leg trades $0
Phoenix bonuses & programs
what you can earn besides fundingSign up on Phoenix via ORBIT
0.5 bps maker Β· 3.5 bps taker
What open interest is made of
live snapshot
SOL$7.1M
ZEC$4.0M
BTC$2.8M
NEAR$1.8M
ETH$1.2M- Crypto82.0%$19.2M
- Stocks14.2%$3.3M
- Other RWA1.9%$442K
- Commodities1.3%$311K
- Indices & ETFs0.6%$144K
Per-asset breakdown
Daily average of the venue rolling 24h figures, through the last complete day β so these totals sit close to, but not exactly on, the live numbers above. Hover a chart for the per-asset split Β· hover or click an asset to spotlight it Β· click a legend chip to hide it.
Funding
who pays whom right now
BNB+0.0026%+22.91%BTC+0.0022%+19.55%NEAR+0.0010%+8.88%ETH+0.0008%+6.87%SOL+0.0007%+5.83%ZEC+0.0005%+3.95%
TAOβ0.0011%β9.68%
ZROβ0.0001%β0.69%
MEGAβ0.0000%β0.20%
UNIβ0.0000%β0.16%
CRVβ0.0000%β0.15%
JUPβ0.0000%β0.15%
RENDERβ0.0000%β0.15%Daily average rate, annualised. Above zero longs pay shorts.
Markets
| Asset | Mark Price β | 24h % β | Funding APR β | Open Interest β | 24h Volume β | Next funding | ||
|---|---|---|---|---|---|---|---|---|
| SOL | $105.29 | +1.22% | +5.83% | +17.32% | 1h | $7.1M | β | β |
| ZEC | $1,175.05 | +2.34% | +3.95% | +0.82% | 1h | $4.0M | β | β |
| BTC | $82,516 | +0.78% | +19.55% | +18.49% | 1h | $2.8M | β | β |
| NEAR | $5.032 | +0.61% | +8.88% | +8.92% | 1h | $1.8M | β | β |
 META | $719.2 | +1.69% | +0.66% | +0.35% | 1h | $1.5M | β | β |
| ETH | $2,424.8 | +0.30% | +6.87% | +5.88% | 1h | $1.2M | β | β |
 TSLA | $357.66 | +2.04% | +0.29% | +0.22% | 1h | $750K | β | β |
 XPL | $0.0784 | -0.81% | +0.22% | +0.28% | 1h | $403K | β | β |
 HYPE | $79.542 | +0.74% | +0.08% | +0.12% | 1h | $268K | β | β |
| πSPACEX | $148.53 | +2.43% | +0.53% | +0.36% | 1h | $238K | β | β |
Click an asset to view market overview Β· Funding rates update every 60s
Best exchange pairs for Phoenix
Head-to-head pages with the funding setups between the two venues, ranked by what they paid after costs.
About Phoenix funding & fees
Phoenix is a decentralized perpetual exchange (perp DEX) tracked live on ORBIT, listing 96 perpetual markets, $23.7M total open interest. Average funding across its markets is +0.51% annualized. ORBIT compares Phoenix's funding rates against 35 other venues so you can spot where it diverges from the rest of the market.
Phoenix charges 0.035% taker and 0.005% maker fees on perpetuals. Via the ORBIT referral you also get: 0.5 bps maker Β· 3.5 bps taker. Execution cost matters for funding arbitrage β ORBIT's backtester subtracts both legs' taker fees plus live order-book slippage, so the PnL it shows is net of what you actually pay.
Phoenix is pre-TGE β points farmed now may convert to a future airdrop. Pairing it with a funding-arbitrage position lets you earn the spread while farming. See the Points Calculator for FDV-based estimates.
To run funding arbitrage with Phoenix, find an asset whose funding here diverges from another venue on the Funding Screener, then verify the pair in the backtester. Its most active markets right now include SOL (+5.83%), ZEC (+3.95%), BTC (+19.55%).
Frequently asked questions
- What are Phoenix trading fees?
- Phoenix charges 0.035% taker and 0.005% maker on perpetual futures. ORBIT referral perk: 0.5 bps maker Β· 3.5 bps taker. Round-trip cost on both legs is what a funding-arbitrage trade has to overcome before it profits.
- Is Phoenix a CEX or DEX?
- Phoenix is a decentralized perpetual exchange (perp DEX). You trade non-custodially from your own wallet.
- Does Phoenix have an airdrop or points program?
- Yes β Phoenix is pre-TGE with points farming active. Trading volume accrues points that may convert to a future airdrop. Stack them on a funding-arbitrage long leg and value them with the ORBIT Points Calculator.