Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 8.8510 | −0.0054 | get 0.0007% / 1h | 23m 23s | $4K | $233K | 10x | Long Phoenix | |
| SHORT | 8.8463 | +0.0104 | get 0.0013% / 1h | 23m 23s | $283K | $669K | 25x | Short Extended10% off |
Price gap−0.053%
Funding gap+0.0158% /8h
Both sides work: funding pays +$5 a day on $10k, and the gap is 0.031% above its 7d average: +$3 more if it goes back.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$58+0.0158% /8h now · paid +0.580% over the last 7D
Price+$3spread −0.053% now, avg −0.085% → +0.031% if it goes back
Costs−$370.372% of $10k · taker + slippage, in and out
Result+$24+0.24%+ Points / potential airdropExtended: points · farm boardWhat the last 7D really paid, hour by hour → backtest
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
Extended price against Phoenixnow
RANGE STATS · 7D
Now−0.053%
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
4 ok · 2 to watch- Watch: Large against open interest12.7 / 7.0 bp$10k is over 10% of Phoenix’s open interest.
- Note: Margin at max leverage$1,000 + $400Phoenix 10x, Extended 25x. 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: +$4.75Long Phoenix: 24 payments, +$1.63; short Extended: 24 payments, +$3.12.
- OK: Entry gap works for you−0.053% vs −0.085%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Long leg is thinner$4K vs $283K OIPhoenix sets your exit cost. Check its book before closing.
- OK: Points on a legExtended pointsVolume here counts toward the points program.
- OK: No KYC on either legPhoenix No · Extended NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned+0.0276%/8h × 21 periods+$58.00
Price spread−0.053% → −0.085% (7d avg)+$3.13
Slippage, 4 orderslive order books−$25.18
Fee Phoenix bp × 2 orders−$7.00
Fee Extended bp × 2 orders−$5.00
Net · 7 days · $10k+$23.94
Costs to cover0.372%Break-even4.1 days
Slippage: Phoenix: live order book, 13 min ago; Extended: live order book, 19 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix1.0112.7 bp−$1353.0 bp−$530doesn’t fitdoesn’t fit
SELL · SHORTExtended2.207.0 bp−$714.7 bp−$147doesn’t fitdoesn’t fit
Closing costs about the same again.
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