Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 9.1345 | −0.0035 | get 0.0004% / 1h | 26m 45s | $3K | $208K | 10x | Long Phoenix | |
| SHORT | 9.1346 | L +0.0291S −0.0249 | get 0.0031% / 1h | 26m 45s | $303K | $188K | 60x | Short 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 forecastFunding+$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
Prices
Fundingper 8h
P&L
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
/8hUNI on 41 exchanges
lowest funding firstBefore 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 + $167Phoenix 10x, GMX 60x. 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: +$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 OIPhoenix 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 NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding 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 sampleCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix1.5316.7 bp−$1774.2 bp−$742doesn’t fitdoesn’t fit
SELL · SHORTGMX—————
Closing costs about the same again.
GMX: no data.
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