Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 8.8479 | −0.0072 | get 0.0009% / 1h | 54m 56s | $3K | $252K | 10x | Long Phoenix | |
| SHORT | 8.8469 | +0.0204 | get 0.0026% / 1h | 54m 56s | $2.9M | $4.8M | 50x | Short Kraken Futures |
Price gap−0.011%
Funding gap+0.0277% /8h
Funding trade: +$8 a day on $10k at the current rate, before costs. The price gap is at its 7d average.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$62+0.0277% /8h now · paid +0.623% over the last 7D
Price−$2spread −0.011% now, avg +0.008% → −0.019% if it goes back
Costs−$510.509% 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
Kraken Futures price against Phoenixnow
RANGE STATS · 7D
Now−0.011%
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
1 ok · 3 to watch- Watch: Large against open interest12.5 / 12.1 bp$10k is over 10% of Phoenix’s open interest.
- Note: Margin at max leverage$1,000 + $200Phoenix 10x, Kraken Futures 50x. 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: +$8.30Long Phoenix: 24 payments, +$2.17; short Kraken Futures: 24 payments, +$6.13.
- Note: Gap at its usual level−0.011% vs +0.008%The price leg adds little either way.
- Watch: Long leg is thinner$3K vs $2.9M OIPhoenix sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCPhoenix No · Kraken Futures YesFull verification; not offered in the US (a separate US product), Canada, Australia (wholesale only) or to retail UK clients.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned+0.0297%/8h × 21 periods+$62.35
Price spread−0.011% → +0.008% (7d avg)−$1.91
Slippage, 4 orderslive order books−$33.93
Fee Phoenix bp × 2 orders−$7.00
Fee Kraken Futures bp × 2 orders−$10.00
Net · 7 days · $10k+$9.50
Costs to cover0.509%Break-even5.9 days
Slippage: Phoenix: live order book, 22 min ago; Kraken Futures: live order book, 4 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix1.0212.5 bp−$1351.6 bp−$516doesn’t fitdoesn’t fit
SELL · SHORTKraken Futures2.8212.1 bp−$1214.8 bp−$14831.3 bp−$3,129doesn’t fit
Closing costs about the same again.
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