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 45s | $11K | $172K | 10x | Long Phoenix | |
| SHORT | 0.000004900 | +0.0096 | get 0.0012% / 1h | 28m 45s | $999K | $822K | 50x | Short Popdex |
Price gap−2.098%59s
Funding gap−0.0690% /8h
Both sides work against this direction now: funding costs $21 a day on $10k and the gap is 0.989% 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−$9−0.0690% /8h now · paid −0.091% over the last 7D
Price—spread −2.098%59s now · prices read too far apart to compare
Costs−$870.873% of $10k · taker + slippage, in and out
Result—no pointsneeds both prices read together
The current funding rate is far below what this pair has been paying: over the last 7 days it paid −0.091% in total, about −0.0043%/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−2.098%
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 · 3 to watch- Watch: Thin at this size24.3 / 19.7 bpAt $10k entering Phoenix costs 24.3 bp, fee and slippage, 1.2× Popdex’s.
- Note: Margin at max leverage$1,000 + $200Phoenix 10x, Popdex 50x. 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: −$20.69Long Phoenix: 24 payments, −$23.57; short Popdex: 24 payments, +$2.88.
- Watch: Prices read 59 s apart−2.098% vs −1.109%Part of this gap may be the market moving.
- Watch: Long leg is thinner$11K vs $999K 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 earned−0.0043%/8h × 21 periods−$9.08
Price spreadprices read too far apart to compare—
Slippage, 4 orderslive order books−$73.93
Fee Phoenix bp × 2 orders−$7.00
Fee Popdex bp × 2 orders−$6.40
Net · 7 days · $10k−$96.41
price spread not counted: prices read too far apartCosts to cover0.873%Break-evennever at this rate
Slippage: Phoenix: live order book, 48 min ago; Popdex: live order book, 44 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix3.9824.3 bp−$2479.1 bp−$791doesn’t fitdoesn’t fit
SELL · SHORTPopdex11.0519.7 bp−$2075.5 bp−$755doesn’t fitdoesn’t fit
Closing costs about the same again.
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