Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 8.8610 | +0.0220 | pay 0.0220% / 8h | 7h 44m | $10.5M | $2.7M | 75x | Long BloFin | |
| SHORT | 8.8565 | −0.0108 | pay 0.0014% / 1h | 44m 56s | $4K | $231K | 10x | Short Phoenix |
Price gap−0.051%
Funding gap−0.0328% /8h
Both sides work against this direction now: funding costs $10 a day on $10k and the gap is 0.090% 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−$74−0.0328% /8h now · paid −0.738% over the last 7D
Price−$9spread −0.051% now, avg +0.039% → −0.090% if it goes back
Costs−$420.425% of $10k · taker + slippage, in and out
Funding history
you earnyou payavg
RANGE STATS · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Short leg rate minus long leg rate, per 8h. Above zero: the pair pays you.
Price spread between the two exchanges
Phoenix price against BloFinnow
RANGE STATS · 7D
Now−0.051%
Average—
Range—
Wider than now—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hUNI on 41 exchanges
lowest funding firstBefore you open
0 ok · 5 to watch- Watch: Large against open interest9.2 / 12.7 bp$10k is over 10% of Phoenix’s open interest.
- Note: Margin at max leverage$133 + $1,000BloFin 75x, Phoenix 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ8h / 1hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$9.84Long BloFin: 3 payments, −$6.60; short Phoenix: 24 payments, −$3.24.
- Watch: Gap narrower than usual−0.051% vs +0.039%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Short leg is thinner$4K vs $10.5M OIPhoenix sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCBloFin Limited · Phoenix NoNo ID to trade futures, with no leverage limit, but withdrawals are capped at 20,000 USDT a day until you verify.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0351%/8h × 21 periods−$73.79
Price spread−0.051% → +0.039% (7d avg)−$8.99
Slippage, 4 orderslive order books−$23.46
Fee BloFin bp × 2 orders−$12.00
Fee Phoenix bp × 2 orders−$7.00
Net · 7 days · $10k−$125.23
Costs to cover0.425%Break-evennever at this rate
Slippage: BloFin: live order book, 4 min ago; Phoenix: live order book, 62 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGBloFin1.139.2 bp−$912.7 bp−$12724.2 bp−$2,418doesn’t fit
SELL · SHORTPhoenix1.0112.7 bp−$1344.7 bp−$447doesn’t fitdoesn’t fit
Closing costs about the same again.
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