Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 8.7685 | −0.0063 | get 0.0008% / 1h | 7m 15s | $3K | $214K | 10x | Long Phoenix | |
| SHORT | 8.7693 | +0.0100 | get 0.0100% / 8h | 4h 07m | $657K | $2.0M | 10x | Short GRVT |
Price gap+0.009%
Funding gap+0.0163% /8h
Both sides work: funding pays +$5 a day on $10k, and the gap is 0.039% above its 7d average: +$4 more if it goes back.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$61+0.0163% /8h now · paid +0.610% over the last 7D
Price+$4spread +0.009% now, avg −0.031% → +0.039% if it goes back
Costs−$470.471% of $10k · taker + slippage, in and out
Result+$18+0.18%+ Points / potential airdropGRVT: 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
GRVT price against Phoenixnow
RANGE STATS · 7D
Now+0.009%
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
3 ok · 3 to watch- Watch: Large against open interest13.8 / 13.3 bp$10k is over 10% of Phoenix’s open interest.
- Note: Margin at max leverage$1,000 + $1,000Phoenix 10x, GRVT 10x. 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: +$4.90Long Phoenix: 24 payments, +$1.90; short GRVT: 3 payments, +$3.00.
- OK: Entry gap works for you+0.009% vs −0.031%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Long leg is thinner$3K vs $657K OIPhoenix sets your exit cost. Check its book before closing.
- OK: Points on a legGRVT pointsVolume here counts toward the points program.
- OK: No KYC on either legPhoenix No · GRVT NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned+0.0290%/8h × 21 periods+$61.00
Price spread+0.009% → −0.031% (7d avg)+$3.92
Slippage, 4 orderslive order books−$31.10
Fee Phoenix bp × 2 orders−$7.00
Fee GRVT bp × 2 orders−$9.00
Net · 7 days · $10k+$17.82
Costs to cover0.471%Break-even5.0 days
Slippage: Phoenix: live order book, 20 min ago; GRVT: live order book, 1 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix1.1413.8 bp−$1458.4 bp−$584doesn’t fitdoesn’t fit
SELL · SHORTGRVT0.5713.3 bp−$1320.8 bp−$208doesn’t fitdoesn’t fit
Closing costs about the same again.
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