Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 8.7730 | −0.0063 | get 0.0008% / 1h | 2m 33s | $3K | $214K | 10x | Long Phoenix | |
| SHORT | 8.7729 | +0.0100 | get 0.0100% / 8h | 4h 02m | $797K | $1.9M | 75x | Short HTX |
Price gap−0.001%
Funding gap+0.0163% /8h
Funding pays +$5 a day on $10k, but the gap is 0.074% under its 7d average: −$7 if it goes back, about 36 hours of funding. At the last 7 days' pace that is about 17 hours.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$75+0.0163% /8h now · paid +0.751% over the last 7D
Price−$7spread −0.001% now, avg +0.073% → −0.074% if it goes back
Costs−$610.614% of $10k · taker + slippage, in and out
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
HTX price against Phoenixnow
RANGE STATS · 7D
Now−0.001%
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: Thin at this size13.8 / 18.6 bpAt $10k entering HTX costs 18.6 bp, fee and slippage, 1.4× Phoenix’s.
- Note: Margin at max leverage$1,000 + $133Phoenix 10x, HTX 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: +$4.90Long Phoenix: 24 payments, +$1.90; short HTX: 3 payments, +$3.00.
- Watch: Gap narrower than usual−0.001% vs +0.073%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Long leg is thinner$3K vs $797K OIPhoenix sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCPhoenix No · HTX LimitedNo ID for accounts opened since 2026-03-30: futures up to 5x and no API trading; more leverage and the API need level-2 KYC.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned+0.0358%/8h × 21 periods+$75.13
Price spread−0.001% → +0.073% (7d avg)−$7.40
Slippage, 4 orderslive order books−$42.42
Fee Phoenix bp × 2 orders−$7.00
Fee HTX bp × 2 orders−$12.00
Net · 7 days · $10k+$6.31
Costs to cover0.614%Break-even6.4 days
Slippage: Phoenix: live order book, 24 min ago; HTX: 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 · SHORTHTX8.2618.6 bp−$1941.6 bp−$416doesn’t fitdoesn’t fit
Closing costs about the same again.
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