Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 7.3570 | +0.0100 | pay 0.0100% / 8h | 3h 39m | $1.5M | $2.6M | 50x | Long Phemex | |
| SHORT | 7.3490 | +0.0024 | get 0.0003% / 1h | 39m 35s | $85K | $983K | 10x | Short Extended10% off |
Price gap−0.109%
Funding gap−0.0076% /8h
Both sides work against this direction now: funding costs $2 a day on $10k and the gap is 0.055% 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−$261−0.0076% /8h now · paid −2.611% over the last 7D
Price−$6spread −0.109% now, avg −0.053% → −0.055% if it goes back
Costs−$740.744% of $10k · taker + slippage, in and out
Result−$341−3.41%+ Points / potential airdropExtended: points · farm boardWhat the last 7D really paid, hour by hour → backtest
Price and funding
1h · historyEntry / Exit
Price spread
Prices
Fundingper 8h
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now−0.109%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hINJ on 25 exchanges
lowest funding firstBefore you open
1 ok · 5 to watch- Watch: Thin at this size22.6 / 12.7 bpAt $10k entering Phemex costs 22.6 bp, fee and slippage, 1.8× Extended’s.
- Note: Margin at max leverage$200 + $1,000Phemex 50x, Extended 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ8h / 1hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$2.28Long Phemex: 3 payments, −$3.00; short Extended: 24 payments, +$0.72.
- Watch: Gap narrower than usual−0.109% vs −0.053%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Short leg is thinner$85K vs $1.5M OIExtended sets your exit cost. Check its book before closing.
- OK: Points on a legExtended pointsVolume here counts toward the points program.
- Watch: KYCPhemex Yes · Extended NoKYC unlocks spot and futures trading; an unverified account cannot withdraw at all.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.1271%/8h × 21 periods−$266.95
Price spread−0.109% → −0.053% (7d avg)−$5.55
Slippage, 4 orderslive order books−$57.39
Fee Phemex bp × 2 orders−$12.00
Fee Extended bp × 2 orders−$5.00
Net · 7 days · $10k−$346.89
Costs to cover0.744%Break-evennever at this rate
Slippage: Phemex: live order book, 4 min ago; Extended: live order book, 4 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhemex4.7622.6 bp−$23137.5 bp−$1,375doesn’t fitdoesn’t fit
SELL · SHORTExtended3.1312.7 bp−$1398.0 bp−$980doesn’t fitdoesn’t fit
Closing costs about the same again.
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