Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.000004634 | +0.0313 | pay 0.0039% / 1h | 9m 18s | $47K | $306K | 10x | Long Phoenix | |
| SHORT | 0.000004643 | +0.0078 | get 0.0078% / 8h | 6h 09m | $43K | $240K | 20x | Short Orderly |
Price gap+0.203%
Funding gap−0.0235% /8h
The gap pays +$35 on $10k if it goes back to its 7d average, but funding costs $7 a day and eats that in about 5.0 days. At the last 7 days' pace that is about 23 days.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$11−0.0235% /8h now · paid −0.108% over the last 7D
Price+$35spread +0.203% now, avg −0.151% → +0.354% if it goes back
Costsno datano order book for Orderly
Result, before costs+$25+0.25%no pointscosts unknown: no order book for Orderly · What 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 −0.108% in total, about −0.0052%/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+0.203%
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
2 ok · 2 to watch- Note: Order book unknown—No order-book sample for Orderly: its slippage is not counted.
- Note: Margin at max leverage$1,000 + $500Phoenix 10x, Orderly 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ1h / 8hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$7.06Long Phoenix: 24 payments, −$9.39; short Orderly: 3 payments, +$2.33.
- OK: Entry gap works for you+0.203% vs −0.151%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Short leg is thinner$43K vs $47K OIOrderly 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 · Orderly NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0052%/8h × 21 periods−$10.83
Price spread+0.203% → −0.151% (7d avg)+$35.41
Slippage, 4 ordersno data for Orderly—
Fee Phoenix bp × 2 orders−$7.00
Fee Orderly bp × 2 orders−$6.00
Net, fees only · 7 days · $10k+$11.58
Costs to cover0.130%Break-evenfrom the start
Slippage: Phoenix: live order book, 37 min ago; Orderly: no order-book sampleCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix4.2926.2 bp−$2681.7 bp−$817doesn’t fitdoesn’t fit
SELL · SHORTOrderly—————
Closing costs about the same again.
Orderly: no data.
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