Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 8.9362 | +0.0100 | pay 0.0013% / 1h | 45m 23s | $17K | $112K | 20x | Long Bullet | |
| SHORT | 8.9694 | −0.0018 | pay 0.0002% / 1h | 45m 23s | $5K | $206K | 10x | Short Phoenix |
Price gap+0.372%
Funding gap−0.0118% /8h
The gap pays +$32 on $10k if it goes back to its 7d average, but funding costs $4 a day and eats that in about 9.2 days. At the last 7 days' pace that is about 4.2 days.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$49−0.0118% /8h now · paid −0.490% over the last 7D
Price+$32spread +0.372% now, avg +0.047% → +0.324% if it goes back
Costs−$430.433% of $10k · taker + slippage, in and out
Price and funding
1h · loading 5m…Price spread
Prices
Fundingper 8h
P&L
PRICE SPREAD · 7D
Now+0.372%
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
/8hUNI on 42 exchanges
lowest funding firstBefore you open
3 ok · 2 to watch- Watch: Thin at this size5.0 / 16.7 bpAt $10k entering Phoenix costs 16.7 bp, fee and slippage, 3.3× Bullet’s.
- Note: Margin at max leverage$500 + $1,000Bullet 20x, Phoenix 10x. 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: −$3.53Long Bullet: 24 payments, −$3.00; short Phoenix: 24 payments, −$0.53.
- OK: Entry gap works for you+0.372% vs +0.047%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Short leg is thinner$5K vs $17K 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 legBullet No · Phoenix NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0257%/8h × 21 periods−$54.05
Price spread+0.372% → +0.047% (7d avg)+$32.45
Slippage, 4 orderslive order books−$28.35
Fee Bullet bp × 2 orders−$8.00
Fee Phoenix bp × 2 orders−$7.00
Net · 7 days · $10k−$64.94
Costs to cover0.433%Break-evennever at this rate
Slippage: Bullet: live order book, 32 min ago; Phoenix: live order book, 10 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGBullet0.285.0 bp−$59.6 bp−$96doesn’t fitdoesn’t fit
SELL · SHORTPhoenix1.4516.7 bp−$1762.8 bp−$628doesn’t fitdoesn’t fit
Closing costs about the same again.
| 09-30 13:34 | Kalshi | Listing | new market KXUNIPERP ($UNI) seen by our collector |
| 09-30 01:05 | Reya | Listing | UNIRUSDPERP no longer reported ($UNI) seen by our collector |
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| 09-24 06:34 | Bullet | Listing | new market UNI-USD ($UNI) seen by our collector |
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