Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 8.7543 | −0.0054 | get 0.0007% / 1h | 49m 39s | $3K | $266K | 10x | Long Phoenix | |
| SHORT | 8.7660 | +0.0100 | get 0.0100% / 8h | 49m 39s | $144.9M | $25.2M | 75x | Short Gate |
Price gap+0.134%107s
Funding gap+0.0154% /8h
Both sides work: funding pays +$5 a day on $10k, and the gap is 0.174% above its 7d average: +$17 more if it goes back.
The two prices were read 107 s apart: part of this gap may be the market moving.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$61+0.0154% /8h now · paid +0.612% over the last 7D
Price—spread +0.134%107s now · prices read too far apart to compare
Costs−$530.534% of $10k · taker + slippage, in and out
Result—no pointsneeds both prices read together
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
Gate price against Phoenixnow
RANGE STATS · 7D
Now+0.134%
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
0 ok · 5 to watch- Watch: Large against open interest13.1 / 14.1 bp$10k is over 10% of Phoenix’s open interest.
- Note: Margin at max leverage$1,000 + $133Phoenix 10x, Gate 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: +$4.63Long Phoenix: 24 payments, +$1.63; short Gate: 3 payments, +$3.00.
- Watch: Prices read 107 s apart+0.134% vs −0.040%Part of this gap may be the market moving.
- Watch: Long leg is thinner$3K vs $144.9M OIPhoenix sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCPhoenix No · Gate YesKYC before the futures account opens; unverified accounts can only withdraw and close positions.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned+0.0291%/8h × 21 periods+$61.16
Price spreadprices read too far apart to compare—
Slippage, 4 orderslive order books−$31.41
Fee Phoenix bp × 2 orders−$7.00
Fee Gate bp × 2 orders−$15.00
Net · 7 days · $10k+$7.75
price spread not counted: prices read too far apartCosts to cover0.534%Break-even6.1 days
Slippage: Phoenix: live order book, 22 min ago; Gate: live order book, 4 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix1.0313.1 bp−$1354.8 bp−$548doesn’t fitdoesn’t fit
SELL · SHORTGate0.5714.1 bp−$1422.6 bp−$22635.2 bp−$3,52154.4 bp−$27.2K
Closing costs about the same again.
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