Settings8H · net · $10k
LanguageThe language of the site
FundingPeriod funding rates are shown in
UnitsPercent or basis points
CostsCount taker fees and slippage in Net
SizePosition per leg used for Net and slippage
ExchangesWhich exchanges to include everywhere
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Funding arb · Price arb / Crypto

PHAROS

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Backtest 30d
LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
BinancePHAROSUSDT
0.7156+0.0255pay 0.0128% / 4h46m 15s$6.9M$4.4M20xLong Binance
SHORT
KuCoinPROSUSDTM
0.7151+0.0100get 0.0050% / 4h46m 15s$1.3M$1.9M20xShort KuCoin
Price gap−0.069%
Funding gap−0.0155% /8h

The gap pays +$10 on $10k if it goes back to its 7d average, but funding costs $5 a day and eats that in about 2.1 days. At the last 7 days' pace that is about 12 hours.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding−$136−0.0155% /8h now · paid −1.355% over the last 7D
Price+$10spread −0.069% now, avg −0.165% → +0.096% if it goes back
Costs−$5355.347% of $10k · taker + slippage, in and out
Result−$661−6.61%no pointsWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · history
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now−0.069%
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

/8h

PHAROS on 10 exchanges

lowest funding first

Before you open

2 ok · 3 to watch
  • Watch: Thin at this size19.2 / 233.1 bp
    At $10k entering KuCoin costs 233.1 bp, fee and slippage, 12.1× Binance’s.
  • Note: Margin at max leverage$500 + $500
    Binance 20x, KuCoin 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
  • OK: Same payment interval4h / 4h
    Both legs pay at the same time.
    Next 24h at the current rates, on $10k a leg: −$4.66Long Binance: 6 payments, −$7.66; short KuCoin: 6 payments, +$3.00.
  • OK: Entry gap works for you−0.069% vs −0.165%
    You short the dearer leg. If the gap goes back to average, the short gains.
  • Watch: Short leg is thinner$1.3M vs $6.9M OI
    KuCoin sets your exit cost. Check its book before closing.
  • Note: No points program—
    Neither exchange runs points right now.
  • Watch: KYCBinance Yes · KuCoin Yes
    Verified KYC to deposit or trade; futures accounts under 30 days old are capped at 20x.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned−0.0645%/8h × 21 periods−$135.52
Price spread−0.069% → −0.165% (7d avg)+$9.61
Slippage, 4 orderslive order books−$512.71
Fee Binance bp × 2 orders−$10.00
Fee KuCoin bp × 2 orders−$12.00
Net · 7 days · $10k−$660.62
Costs to cover5.347%Break-evennever at this rate
Slippage: Binance: live order book, 9 min ago; KuCoin: live order book, 1 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGBinance0.7019.2 bp−$19214.3 bp−$2,143doesn’t fitdoesn’t fit
SELL · SHORTKuCoin9.09233.1 bp−$233doesn’t fitdoesn’t fitdoesn’t fit

Closing costs about the same again.

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