Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 8.8340 | +0.0100 | pay 0.0100% / 8h | 1h 09m | $25.0M | $5.1M | 50x | Long Phemex | |
| SHORT | 8.8221 | +0.0100 | get 0.0013% / 1h | 9m 07s | $10K | $116K | 20x | Short Bullet |
Price gap−0.134%
Funding gap0.0000% /8h
Funding is ≈ 0 and the gap is 0.109% under its 7d average: the price leg works against you, −$11 on $10k if it goes back.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$170.0000% /8h now · paid −0.172% over the last 7D
Price−$11spread −0.134% now, avg −0.026% → −0.109% if it goes back
Costs−$520.521% of $10k · taker + slippage, in and out
Price and funding
1h · loading 5m…Price spread
Prices
Fundingper 8h
P&L
PRICE SPREAD · 7D
Now−0.134%
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
0 ok · 5 to watch- Watch: Thin at this size16.8 / 6.8 bpAt $10k entering Phemex costs 16.8 bp, fee and slippage, 2.5× Bullet’s.
- Note: Margin at max leverage$200 + $500Phemex 50x, Bullet 20x. 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: $0.00Long Phemex: 3 payments, −$3.00; short Bullet: 24 payments, +$3.00.
- Watch: Gap narrower than usual−0.134% vs −0.026%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Short leg is thinner$10K vs $25.0M OIBullet sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCPhemex Yes · Bullet 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−0.0090%/8h × 21 periods−$18.90
Price spread−0.134% → −0.026% (7d avg)−$10.86
Slippage, 4 orderslive order books−$32.06
Fee Phemex bp × 2 orders−$12.00
Fee Bullet bp × 2 orders−$8.00
Net · 7 days · $10k−$81.83
Costs to cover0.521%Break-evennever at this rate
Slippage: Phemex: live order book, 4 min ago; Bullet: live order book, 4 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhemex10.7616.8 bp−$1727.2 bp−$27261.1 bp−$6,113doesn’t fit
SELL · SHORTBullet2.046.8 bp−$712.6 bp−$126doesn’t fitdoesn’t fit
Closing costs about the same again.
| 09-30 13:34 | Kalshi | Listing | new market KXUNIPERP ($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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