Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.000005005 | +0.0786 | pay 0.0098% / 1h | 28m 58s | $11K | $172K | 10x | Long Phoenix | |
| SHORT | 0.000004992 | −0.0664 | pay 0.0083% / 1h | 28m 58s | $198K | $481K | 25x | Short Extended10% off |
Price gap−0.254%
Funding gap−0.1450% /8h
Both sides work against this direction now: funding costs $43 a day on $10k and the gap is 0.044% 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−$52−0.1450% /8h now · paid −0.518% over the last 7D
Price−$4spread −0.254% now, avg −0.210% → −0.044% if it goes back
Costs−$640.636% of $10k · taker + slippage, in and out
Result−$120−1.20%+ Points / potential airdropExtended: points · farm boardWhat the last 7D really paid, hour by hour → backtest
The current funding rate is far below what this pair has been paying: over the last 7 days it paid −0.518% in total, about −0.0247%/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−0.254%
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
/8hPEPE on 39 exchanges
lowest funding firstBefore you open
3 ok · 3 to watch- Watch: Thin at this size24.3 / 7.5 bpAt $10k entering Phoenix costs 24.3 bp, fee and slippage, 3.2× Extended’s.
- Note: Margin at max leverage$1,000 + $400Phoenix 10x, Extended 25x. 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: −$43.49Long Phoenix: 24 payments, −$23.57; short Extended: 24 payments, −$19.92.
- Watch: Gap narrower than usual−0.254% vs −0.210%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Long leg is thinner$11K vs $198K OIPhoenix sets your exit cost. Check its book before closing.
- OK: Points on a legExtended pointsVolume here counts toward the points program.
- OK: No KYC on either legPhoenix No · Extended NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0247%/8h × 21 periods−$51.77
Price spread−0.254% → −0.210% (7d avg)−$4.40
Slippage, 4 orderslive order books−$51.59
Fee Phoenix bp × 2 orders−$7.00
Fee Extended bp × 2 orders−$5.00
Net · 7 days · $10k−$119.76
Costs to cover0.636%Break-evennever at this rate
Slippage: Phoenix: live order book, 48 min ago; Extended: live order book, 13 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix3.9824.3 bp−$2479.1 bp−$791doesn’t fitdoesn’t fit
SELL · SHORTExtended5.017.5 bp−$824.3 bp−$243doesn’t fitdoesn’t fit
Closing costs about the same again.
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