Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 8.8141 | −0.0054 | get 0.0007% / 1h | 35m 03s | $3K | $252K | 10x | Long Phoenix | |
| SHORT | 8.7980 | +0.0100 | get 0.0100% / 8h | 1h 35m | $25.4M | $5.5M | 50x | Short Phemex |
Price gap−0.183%
Funding gap+0.0154% /8h
Funding pays +$5 a day on $10k, but the gap is 0.158% under its 7d average: −$16 if it goes back, about 3.4 days of funding.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$64+0.0154% /8h now · paid +0.639% over the last 7D
Price−$16spread −0.183% now, avg −0.025% → −0.158% if it goes back
Costs−$500.496% 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
Phemex price against Phoenixnow
RANGE STATS · 7D
Now−0.183%
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: Large against open interest12.5 / 12.2 bp$10k is over 10% of Phoenix’s open interest.
- Note: Margin at max leverage$1,000 + $200Phoenix 10x, Phemex 50x. 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: +$4.63Long Phoenix: 24 payments, +$1.63; short Phemex: 3 payments, +$3.00.
- Watch: Gap narrower than usual−0.183% vs −0.025%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 $25.4M OIPhoenix sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCPhoenix No · Phemex YesKYC unlocks spot and futures trading; an unverified account cannot withdraw at all.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned+0.0304%/8h × 21 periods+$63.93
Price spread−0.183% → −0.025% (7d avg)−$15.77
Slippage, 4 orderslive order books−$30.59
Fee Phoenix bp × 2 orders−$7.00
Fee Phemex bp × 2 orders−$12.00
Net · 7 days · $10k−$1.42
Costs to cover0.496%Break-even7.2 days
Slippage: Phoenix: live order book, 42 min ago; Phemex: 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 · SHORTPhemex0.5712.2 bp−$1222.4 bp−$224doesn’t fitdoesn’t fit
Closing costs about the same again.
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