Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.000003701 | +0.0100 | pay 0.0050% / 4h | 3h 36m | $226K | $520K | 50x | Long Variational Omni+15% pts | |
| SHORT | 0.000003694 | −0.0325 | pay 0.0041% / 1h | 36m 49s | $107K | $180K | 10x | Short Phoenix |
Price gap−0.183%
Funding gap−0.0425% /8h
Both sides work against this direction now: funding costs $13 a day on $10k and the gap is 0.254% under its 7d average. Swap the legs.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$64−0.0425% /8h now · paid −0.641% over the last 6 days (all we have)
Price−$25spread −0.183% now, avg +0.071% → −0.254% if it goes back
Costs−$1341.335% of $10k · taker + slippage, in and out
Result−$223−2.23%+ Points / potential airdropVariational Omni: points · farm boardWhat the last 7D really paid, hour by hour → backtest
Funding history
you earnyou payavg
RANGE STATS · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Short leg rate minus long leg rate, per 8h. Above zero: the pair pays you.
Price spread between the two exchanges
Phoenix price against Variational Omninow
RANGE STATS · 7D
Now−0.183%
Average—
Range—
Wider than now—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hBONK on 31 exchanges
lowest funding firstBefore you open
2 ok · 4 to watch- Watch: Thin at this size31.3 / 33.4 bpAt $10k entering Phoenix costs 33.4 bp, fee and slippage, 1.1× Variational Omni’s.
- Note: Margin at max leverage$200 + $1,000Variational Omni 50x, Phoenix 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ4h / 1hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$12.75Long Variational Omni: 6 payments, −$3.00; short Phoenix: 24 payments, −$9.75.
- Watch: Gap narrower than usual−0.183% vs +0.071%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Short leg is thinner$107K vs $226K OIPhoenix sets your exit cost. Check its book before closing.
- OK: Points on a legVariational Omni pointsVolume here counts toward the points program.
- OK: No KYC on either legVariational Omni No · Phoenix NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0355%/8h × 21 periods−$74.62
Price spread−0.183% → +0.071% (7d avg)−$25.42
Slippage, 4 orderslive order books−$126.53
Fee Variational Omni bp × 2 orders$0.00
Fee Phoenix bp × 2 orders−$7.00
Net · 7 days · $10k−$233.57
Costs to cover1.335%Break-evennever at this rate
Slippage: Variational Omni: RFQ quote, 52 min ago; Phoenix: live order book, 6 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGVariational Omni5.4531.3 bp−$3154.5 bp−$545doesn’t fitdoesn’t fit
SELL · SHORTPhoenix5.4033.4 bp−$33116.0 bp−$1,160doesn’t fitdoesn’t fit
Closing costs about the same again.
| 09-24 20:40 | Phoenix | Listing | Now live: $Bonk - 10x leverage. The coin that started it all is now available on Phoenix. @PhoenixTrade on X ↗ |
| 09-24 15:00 | Phoenix | Listing | new market kBONK ($BONK) seen by our collector |
| 09-22 07:03 | ApeX Omni | Other | 59 up, 26 down on the ApeX board, median name +2.5%. Memecoins swept it: ethereum:0x6982508145454ce325ddbe47a25d4ec3d2311933 +25.9%, $BONK +20.5%, $WIF +20.1%, with $TAO +18.2%. $AR -15.0% is the only real casualty. This is what a short squeeze looks like on day two. @OfficialApeXdex on X ↗ |
ApeX Omni