Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.5056 | −0.0095 | get 0.0012% / 1h | 0m 53s | $43K | $213K | 10x | Long Phoenix | |
| SHORT | 0.5038 | +0.0096 | get 0.0012% / 1h | 0m 53s | $62K | $404K | 20x | Short Popdex |
Price gap−0.354%
Funding gap+0.0191% /8h
Funding pays +$6 a day on $10k, but the gap is 0.268% under its 7d average: −$27 if it goes back, about 4.7 days of funding. At the last 7 days' pace that is about years.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding$0+0.0191% /8h now · paid +0.001% over the last 7D
Price−$27spread −0.354% now, avg −0.086% → −0.268% if it goes back
Costs−$680.680% of $10k · taker + slippage, in and out
The current funding rate is far above what this pair has been paying: over the last 7 days it paid +0.001% in total, about 0.0000%/8h on average.
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−0.354%
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
/8hONDO on 41 exchanges
lowest funding firstBefore you open
2 ok · 3 to watch- Watch: Thin at this size19.7 / 15.0 bpAt $10k entering Phoenix costs 19.7 bp, fee and slippage, 1.3× Popdex’s.
- Note: Margin at max leverage$1,000 + $500Phoenix 10x, Popdex 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- OK: Same payment interval1h / 1hBoth legs pay at the same time.Next 24h at the current rates, on $10k a leg: +$5.74Long Phoenix: 24 payments, +$2.86; short Popdex: 24 payments, +$2.88.
- Watch: Gap narrower than usual−0.354% vs −0.086%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Long leg is thinner$43K vs $62K OIPhoenix sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- OK: No KYC on either legPhoenix No · Popdex NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned0.0000%/8h × 21 periods+$0.07
Price spread−0.354% → −0.086% (7d avg)−$26.76
Slippage, 4 orderslive order books−$54.59
Fee Phoenix bp × 2 orders−$7.00
Fee Popdex bp × 2 orders−$6.40
Net · 7 days · $10k−$94.68
Costs to cover0.680%Break-even9663.8 days
Slippage: Phoenix: live order book, 11 min ago; Popdex: live order book, 19 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix2.9619.7 bp−$2068.8 bp−$688doesn’t fitdoesn’t fit
SELL · SHORTPopdex0.9915.0 bp−$15168.4 bp−$1,684doesn’t fitdoesn’t fit
Closing costs about the same again.
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