Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.5433 | +0.0309 | pay 0.0039% / 1h | 3m 56s | $181K | $530K | 10x | Long Phoenix | |
| SHORT | 0.5446 | +0.0096 | get 0.0012% / 1h | 3m 56s | $81K | $434K | 20x | Short Popdex |
Price gap+0.230%54s
Funding gap−0.0213% /8h
The gap pays +$38 on $10k if it goes back to its 7d average, but funding costs $6 a day and eats that in about 5.9 days.
The two prices were read 54 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−$47−0.0213% /8h now · paid −0.473% over the last 6 days (all we have)
Price—spread +0.230%54s now · prices read too far apart to compare
Costs−$690.688% 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+0.230%
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
/8hWLD on 39 exchanges
lowest funding firstBefore you open
2 ok · 3 to watch- Watch: Thin at this size19.4 / 15.3 bpAt $10k entering Phoenix costs 19.4 bp, fee and slippage, 1.3× Popdex’s.
- Note: Margin at max leverage$1,000 + $500Phoenix 10x, Popdex 20x. 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: −$6.40Long Phoenix: 24 payments, −$9.28; short Popdex: 24 payments, +$2.88.
- Watch: Prices read 54 s apart+0.230% vs −0.147%Part of this gap may be the market moving.
- Watch: Short leg is thinner$81K vs $181K OIPopdex sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- OK: No KYC on either legPhoenix No · Popdex NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0256%/8h × 21 periods−$53.75
Price spreadprices read too far apart to compare—
Slippage, 4 orderslive order books−$55.43
Fee Phoenix bp × 2 orders−$7.00
Fee Popdex bp × 2 orders−$6.40
Net · 7 days · $10k−$122.58
price spread not counted: prices read too far apartCosts to cover0.688%Break-evennever at this rate
Slippage: Phoenix: live order book, 66 min ago; Popdex: live order book, 3 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix3.0019.4 bp−$1964.4 bp−$644doesn’t fitdoesn’t fit
SELL · SHORTPopdex3.7715.3 bp−$1599.0 bp−$990doesn’t fitdoesn’t fit
Closing costs about the same again.
Reya