Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.04456 | +0.0100 | pay 0.0050% / 4h | 1h 09m | $1.5M | $2.4M | 50x | Long Phemex | |
| SHORT | 0.04449 | +0.0026 | get 0.0013% / 4h | 1h 09m | $501 | $157K | 10x | Short edgeX |
Price gap−0.152%
Funding gap−0.0074% /8h
Both sides work against this direction now: funding costs $2 a day on $10k and the gap is 0.032% 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−$5−0.0074% /8h now · paid −0.047% over the last 7D
Price−$3spread −0.152% now, avg −0.120% → −0.032% if it goes back
Costsdoesn’t fit$10k a leg is deeper than the books hold
Result, before costs−$8−0.08%+ Points / potential airdropedgeX: points · farm boardcosts unknown: book too thin at $10k · What the last 7D really paid, hour by hour → backtest
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−0.152%
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
/8hSTRK on 30 exchanges
lowest funding firstBefore you open
2 ok · 4 to watch- Problem: Doesn’t fit the books—$10k a leg is deeper than edgeX’s order book right now.
- Note: Margin at max leverage$200 + $1,000Phemex 50x, edgeX 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- OK: Same payment interval4h / 4hBoth legs pay at the same time.Next 24h at the current rates, on $10k a leg: −$2.23Long Phemex: 6 payments, −$3.00; short edgeX: 6 payments, +$0.77.
- Watch: Gap narrower than usual−0.152% vs −0.120%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Short leg is thinner$501 vs $1.5M OIedgeX sets your exit cost. Check its book before closing.
- OK: Points on a legedgeX pointsVolume here counts toward the points program.
- Watch: KYCPhemex Yes · edgeX NoKYC unlocks spot and futures trading; an unverified account cannot withdraw at all.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0023%/8h × 21 periods−$4.73
Price spread−0.152% → −0.120% (7d avg)−$3.21
Slippage, 4 ordersdoesn’t fit the book at $10k—
Fee Phemex bp × 2 orders−$12.00
Fee edgeX bp × 2 orders−$9.00
Net · 7 days · $10k—
doesn’t fit the books at $10kCosts to cover—Break-even—
Slippage: Phemex: live order book, 4 min ago; edgeX: live order book, 28 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhemex5.6130.3 bp−$30139.0 bp−$1,390doesn’t fitdoesn’t fit
SELL · SHORTedgeX4.45doesn’t fitdoesn’t fitdoesn’t fitdoesn’t fit
Closing costs about the same again.
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