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 29s | $3K | $214K | 10x | Long Phoenix | |
| SHORT | 8.7553 | +0.0100 | get 0.0013% / 1h | 7m 29s | $180K | $260K | 10x | Short Pacifica10% back |
Price gap−0.150%107s
Funding gap+0.0163% /8h
Funding pays +$5 a day on $10k, but the gap is 0.126% under its 7d average: −$13 if it goes back, about 2.6 days of funding.
The two prices were read 107 s apart: part of this gap may be the market moving.
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—spread −0.150%107s now · prices read too far apart to compare
Costs−$460.455% 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
Pacifica price against Phoenixnow
RANGE STATS · 7D
Now−0.150%
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 / 11.1 bp$10k is over 10% of Phoenix’s open interest.
- Note: Margin at max leverage$1,000 + $1,000Phoenix 10x, Pacifica 10x. 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: +$4.90Long Phoenix: 24 payments, +$1.90; short Pacifica: 24 payments, +$3.00.
- Watch: Prices read 107 s apart−0.150% vs −0.025%Part of this gap may be the market moving.
- Watch: Long leg is thinner$3K vs $180K OIPhoenix sets your exit cost. Check its book before closing.
- OK: Points on a legPacifica pointsVolume here counts toward the points program.
- OK: No KYC on either legPhoenix No · Pacifica 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 spreadprices read too far apart to compare—
Slippage, 4 orderslive order books−$30.51
Fee Phoenix bp × 2 orders−$7.00
Fee Pacifica bp × 2 orders−$8.00
Net · 7 days · $10k+$15.49
price spread not counted: prices read too far apartCosts to cover0.455%Break-even5.2 days
Slippage: Phoenix: live order book, 19 min ago; Pacifica: live order book, 26 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix1.1413.8 bp−$1458.4 bp−$584doesn’t fitdoesn’t fit
SELL · SHORTPacifica1.1411.1 bp−$11doesn’t fitdoesn’t fitdoesn’t fit
Closing costs about the same again.
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