Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 8.8310 | +0.0100 | pay 0.0100% / 8h | 5h 35m | $50.5M | $25.0M | 200x | Long MEXC | |
| SHORT | 8.8460 | −0.0072 | pay 0.0009% / 1h | 35m 11s | $5K | $224K | 10x | Short Phoenix |
Price gap+0.170%
Funding gap−0.0172% /8h
The gap pays +$14 on $10k if it goes back to its 7d average, but funding costs $5 a day and eats that in about 2.7 days.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$53−0.0172% /8h now · paid −0.535% over the last 7D
Price+$14spread +0.170% now, avg +0.031% → +0.139% if it goes back
Costs−$320.321% 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 MEXCnow
RANGE STATS · 7D
Now+0.170%
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
1 ok · 4 to watch- Watch: Large against open interest3.7 / 12.7 bp$10k is over 10% of Phoenix’s open interest.
- Note: Margin at max leverage$50 + $1,000MEXC 200x, 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: −$5.17Long MEXC: 3 payments, −$3.00; short Phoenix: 24 payments, −$2.17.
- OK: Entry gap works for you+0.170% vs +0.031%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Short leg is thinner$5K vs $50.5M OIPhoenix sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCMEXC Yes · Phoenix NoKYC before trading since Feb 2026; unverified accounts see market data only.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0255%/8h × 21 periods−$53.50
Price spread+0.170% → +0.031% (7d avg)+$13.89
Slippage, 4 orderslive order books−$21.09
Fee MEXC bp × 2 orders−$4.00
Fee Phoenix bp × 2 orders−$7.00
Net · 7 days · $10k−$71.70
Costs to cover0.321%Break-evennever at this rate
Slippage: MEXC: live order book, 4 min ago; Phoenix: live order book, 62 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGMEXC0.573.7 bp−$46.7 bp−$6722.0 bp−$2,199167.0 bp−$83.5K
SELL · SHORTPhoenix1.0112.7 bp−$1344.9 bp−$449doesn’t fitdoesn’t fit
Closing costs about the same again.
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