Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 8.8479 | −0.0072 | get 0.0009% / 1h | 55m 12s | $3K | $252K | 10x | Long Phoenix | |
| SHORT | 8.8460 | +0.0100 | get 0.0100% / 8h | 1h 55m | $86.6M | $61.9M | 75x | Short Bybit |
Price gap−0.021%
Funding gap+0.0172% /8h
Both sides work: funding pays +$5 a day on $10k, and the gap is 0.051% above its 7d average: +$5 more if it goes back.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$52+0.0172% /8h now · paid +0.518% over the last 7D
Price+$5spread −0.021% now, avg −0.072% → +0.051% if it goes back
Costs−$410.413% 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
Bybit price against Phoenixnow
RANGE STATS · 7D
Now−0.021%
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 interest12.5 / 6.7 bp$10k is over 10% of Phoenix’s open interest.
- Note: Margin at max leverage$1,000 + $133Phoenix 10x, Bybit 75x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ1h / 8hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: +$5.17Long Phoenix: 24 payments, +$2.17; short Bybit: 3 payments, +$3.00.
- OK: Entry gap works for you−0.021% vs −0.072%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Long leg is thinner$3K vs $86.6M OIPhoenix sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCPhoenix No · Bybit YesStandard verification is mandatory for every product.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned+0.0246%/8h × 21 periods+$51.76
Price spread−0.021% → −0.072% (7d avg)+$5.09
Slippage, 4 orderslive order books−$23.32
Fee Phoenix bp × 2 orders−$7.00
Fee Bybit bp × 2 orders−$11.00
Net · 7 days · $10k+$15.52
Costs to cover0.413%Break-even4.9 days
Slippage: Phoenix: live order book, 22 min ago; Bybit: live order book, 4 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix1.0212.5 bp−$1351.6 bp−$516doesn’t fitdoesn’t fit
SELL · SHORTBybit0.566.7 bp−$714.2 bp−$142118.0 bp−$11.8Kdoesn’t fit
Closing costs about the same again.
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