Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 8.8772 | −0.0018 | get 0.0002% / 1h | 12m 25s | $3K | $207K | 10x | Long Phoenix | |
| SHORT | 8.8798 | 0 | 0.0000% / 1h | 12m 25s | $553K | $286K | 50x | Short Deribit |
Price gap+0.030%
Funding gap+0.0018% /8h
Both sides work: funding pays +$1 a day on $10k, and the gap is 0.025% above its 7d average: +$2 more if it goes back.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$52+0.0018% /8h now · paid +0.522% over the last 7D
Price+$2spread +0.030% now, avg +0.005% → +0.025% if it goes back
Costs−$590.589% of $10k · taker + slippage, in and out
Price and funding
1h · loading 5m…Price spread
Prices
Fundingper 8h
P&L
PRICE SPREAD · 7D
Now+0.030%
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 41 exchanges
lowest funding firstBefore you open
2 ok · 3 to watch- Watch: Thin at this size15.4 / 16.6 bpAt $10k entering Deribit costs 16.6 bp, fee and slippage, 1.1× Phoenix’s.
- Note: Margin at max leverage$1,000 + $200Phoenix 10x, Deribit 50x. 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: +$0.54Long Phoenix: 24 payments, +$0.54; short Deribit: 24 payments, $0.00.
- OK: Entry gap works for you+0.030% vs +0.005%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Long leg is thinner$3K vs $553K OIPhoenix sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCPhoenix No · Deribit YesID, proof of address and a financial profile before any deposit; not for the US, Canada, Japan or retail UK clients.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned+0.0249%/8h × 21 periods+$52.21
Price spread+0.030% → +0.005% (7d avg)+$2.48
Slippage, 4 orderslive order books−$44.91
Fee Phoenix bp × 2 orders−$7.00
Fee Deribit bp × 2 orders−$7.00
Net · 7 days · $10k−$4.22
Costs to cover0.589%Break-even7.6 days
Slippage: Phoenix: live order book, 57 min ago; Deribit: live order book, 65 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix1.3515.4 bp−$1567.1 bp−$671doesn’t fitdoesn’t fit
SELL · SHORTDeribit7.3016.6 bp−$1725.7 bp−$257doesn’t fitdoesn’t fit
Closing costs about the same again.
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