Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 8.9536 | +0.0100 | pay 0.0100% / 8h | 1h 45m | $37K | $711K | 30x | Long SunX≤10% back | |
| SHORT | 8.9694 | −0.0018 | pay 0.0002% / 1h | 45m 31s | $5K | $206K | 10x | Short Phoenix |
Price gap+0.176%51s
Funding gap−0.0118% /8h
The gap pays +$20 on $10k if it goes back to its 7d average, but funding costs $4 a day and eats that in about 5.8 days. At the last 7 days' pace that is about 2.2 days.
The two prices were read 51 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−$66−0.0118% /8h now · paid −0.662% over the last 7D
Price—spread +0.176%51s now · prices read too far apart to compare
Costs−$690.690% of $10k · taker + slippage, in and out
Result—no pointsneeds both prices read together
Price and funding
1h · loading 5m…Price spread
Prices
Fundingper 8h
P&L
PRICE SPREAD · 7D
Now+0.176%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hUNI on 42 exchanges
lowest funding firstBefore you open
1 ok · 4 to watch- Watch: Thin at this size17.8 / 16.7 bpAt $10k entering SunX costs 17.8 bp, fee and slippage, 1.1× Phoenix’s.
- Note: Margin at max leverage$333 + $1,000SunX 30x, Phoenix 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ8h / 1hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$3.53Long SunX: 3 payments, −$3.00; short Phoenix: 24 payments, −$0.53.
- Watch: Prices read 51 s apart+0.176% vs −0.028%Part of this gap may be the market moving.
- Watch: Short leg is thinner$5K vs $37K OIPhoenix sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- OK: No KYC on either legSunX No · Phoenix NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0315%/8h × 21 periods−$66.17
Price spreadprices read too far apart to compare—
Slippage, 4 orderslive order books−$53.99
Fee SunX bp × 2 orders−$8.00
Fee Phoenix bp × 2 orders−$7.00
Net · 7 days · $10k−$135.17
price spread not counted: prices read too far apartCosts to cover0.690%Break-evennever at this rate
Slippage: SunX: live order book, 9 min ago; Phoenix: live order book, 10 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGSunX13.8517.8 bp−$1834.6 bp−$346doesn’t fitdoesn’t fit
SELL · SHORTPhoenix1.4516.7 bp−$1762.8 bp−$628doesn’t fitdoesn’t fit
Closing costs about the same again.
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| 09-24 06:34 | Bullet | Listing | new market UNI-USD ($UNI) seen by our collector |
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