Settings8H · net · $10k
LanguageThe language of the site
FundingPeriod funding rates are shown in
UnitsPercent or basis points
CostsCount taker fees and slippage in Net
SizePosition per leg used for Net and slippage
ExchangesWhich exchanges to include everywhere
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Backtest 30d
LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG9.1345−0.0035get 0.0004% / 1h26m 45s$3K$208K10xLong Phoenix
SHORT9.1346L +0.0291S −0.0249get 0.0031% / 1h26m 45s$303K$188K60xShort GMX5% off
Price gap+0.002%
Funding gap+0.0283% /8h

Both sides work: funding pays +$9 a day on $10k, and the gap is 0.026% 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 forecast
Funding+$80+0.0283% /8h now · paid +0.802% over the last 7D
Price+$3spread +0.002% now, avg −0.024% → +0.026% if it goes back
Costsno datano order book for GMX
Result, before costs+$83+0.83%no pointscosts unknown: no order book for GMX · What the last 7D really paid, hour by hour → backtest

Price and funding

1h · loading 5m…
PRICE SPREAD · 7D
Now+0.002%
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

/8h

UNI on 41 exchanges

lowest funding first

Before you open

3 ok · 1 to watch
  • Note: Order book unknown—
    No order-book sample for GMX: its slippage is not counted.
  • Note: Margin at max leverage$1,000 + $167
    Phoenix 10x, GMX 60x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
  • OK: Same payment interval1h / 1h
    Both legs pay at the same time.
    Next 24h at the current rates, on $10k a leg: +$8.50Long Phoenix: 24 payments, +$1.05; short GMX: 24 payments, +$7.46.
  • OK: Entry gap works for you+0.002% vs −0.024%
    You short the dearer leg. If the gap goes back to average, the short gains.
  • Watch: Long leg is thinner$3K vs $303K OI
    Phoenix sets your exit cost. Check its book before closing.
  • Note: No points program—
    Neither exchange runs points right now.
  • OK: No KYC on either legPhoenix No · GMX No
    Both exchanges let you trade without ID.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned+0.0382%/8h × 21 periods+$80.23
Price spread+0.002% → −0.024% (7d avg)+$2.60
Slippage, 4 ordersno data for GMX—
Fee Phoenix bp × 2 orders−$7.00
Fee GMX bp × 2 orders−$12.00
Net, fees only · 7 days · $10k+$63.83
Costs to cover0.190%Break-even1.4 days
Slippage: Phoenix: live order book, 32 min ago; GMX: no order-book sample

Cost to enter

taker + slippage from mid, one side
BUY · LONGPhoenix1.5316.7 bp−$1774.2 bp−$742doesn’t fitdoesn’t fit
SELL · SHORTGMX—————

Closing costs about the same again.
GMX: no data.

Alert

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