PHAROS

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	BinancePHAROSUSDT	0.7456	+0.0245	pay 0.0123% / 4h	1h 41m	$7.3M	$7.0M	20x	Long Binance
SHORT	OKXPROS-USDT-SWAP	0.7445	+0.0100	get 0.0050% / 4h	1h 41m	$1.6M	$3.3M	10x	Short OKX

Price gap−0.148%

Funding gap−0.0145% /8h

The gap pays +$14 on $10k if it goes back to its 7d average, but funding costs $4 a day and eats that in about 3.1 days. At the last 7 days' pace that is about 14 hours.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding−$166−0.0145% /8h now · paid −1.664% over the last 7D

Price+$14spread −0.148% now, avg −0.283% → +0.136% if it goes back

Costs−$880.882% of $10k · taker + slippage, in and out

Result−$241−2.41%no pointsWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · history

Entry / 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−0.148%

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 · 2 to watch

Watch: Thin at this size24.2 / 26.8 bp
At $10k entering OKX costs 26.8 bp, fee and slippage, 1.1× Binance’s.
Note: Margin at max leverage$500 + $1,000
Binance 20x, OKX 10x. 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: −$4.36Long Binance: 6 payments, −$7.36; short OKX: 6 payments, +$3.00.
OK: Entry gap works for you−0.148% vs −0.283%
You short the dearer leg. If the gap goes back to average, the short gains.
Note: Short leg is thinner$1.6M vs $7.3M OI
Both legs are deep; OKX is the smaller one.
Note: No points program—
Neither exchange runs points right now.
Watch: KYCBinance Yes · OKX 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−0.0792%/8h × 21 periods−$166.37

Price spread−0.148% → −0.283% (7d avg)+$13.59

Slippage, 4 orderslive order books−$68.21

Fee Binance bp × 2 orders−$10.00

Fee OKX bp × 2 orders−$10.00

Net · 7 days · $10k−$240.99

Costs to cover0.882%Break-evennever at this rate

Slippage: Binance: live order book, 14 min ago; OKX: live order book, 2 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGBinance2.0124.2 bp−$24204.3 bp−$2,043doesn’t fitdoesn’t fit

SELL · SHORTOKX1.3426.8 bp−$27165.0 bp−$1,650doesn’t fitdoesn’t fit

Closing costs about the same again.