Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 8.8380 | +0.0100 | pay 0.0100% / 8h | 15m 30s | $146.1M | $25.5M | 75x | Long Gate | |
| SHORT | 8.8307 | −0.0082 | pay 0.0010% / 1h | 15m 30s | $3K | $266K | 10x | Short Phoenix |
Price gap−0.083%107s
Funding gap−0.0182% /8h
Both sides work against this direction now: funding costs $5 a day on $10k and the gap is 0.124% under its 7d average. Swap the legs.
The two prices were read 107 s apart: part of this gap may be the market moving.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$61−0.0182% /8h now · paid −0.612% over the last 7D
Price—spread −0.083%107s now · prices read too far apart to compare
Costs−$520.519% of $10k · taker + slippage, in and out
Result—no pointsneeds both prices read together
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 Gatenow
RANGE STATS · 7D
Now−0.083%
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 interest12.1 / 13.1 bp$10k is over 10% of Phoenix’s open interest.
- Note: Margin at max leverage$133 + $1,000Gate 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: −$5.47Long Gate: 3 payments, −$3.00; short Phoenix: 24 payments, −$2.47.
- Watch: Prices read 107 s apart−0.083% vs +0.041%Part of this gap may be the market moving.
- Watch: Short leg is thinner$3K vs $146.1M OIPhoenix sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCGate Yes · Phoenix NoKYC before the futures account opens; unverified accounts can only withdraw and close positions.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0291%/8h × 21 periods−$61.16
Price spreadprices read too far apart to compare—
Slippage, 4 orderslive order books−$29.93
Fee Gate bp × 2 orders−$15.00
Fee Phoenix bp × 2 orders−$7.00
Net · 7 days · $10k−$113.09
price spread not counted: prices read too far apartCosts to cover0.519%Break-evennever at this rate
Slippage: Gate: live order book, 3 min ago; Phoenix: live order book, 56 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGGate0.5712.1 bp−$1222.1 bp−$22150.3 bp−$5,03087.1 bp−$43.5K
SELL · SHORTPhoenix1.0313.1 bp−$1346.5 bp−$465doesn’t fitdoesn’t fit
Closing costs about the same again.
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