Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.5684 | +0.0096 | pay 0.0012% / 1h | 32m 35s | $83K | $511K | 20x | Long Popdex | |
| SHORT | 0.5662 | +0.0410 | get 0.0051% / 1h | 32m 35s | $188K | $443K | 10x | Short Phoenix |
Price gap−0.394%54s
Funding gap+0.0314% /8h
Funding pays +$9 a day on $10k, but the gap is 0.541% under its 7d average: −$54 if it goes back, about 5.7 days of funding.
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+$48+0.0314% /8h now · paid +0.477% over the last 6 days (all we have)
Price—spread −0.394%54s now · prices read too far apart to compare
Costs−$690.689% 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−0.394%
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 size14.7 / 19.5 bpAt $10k entering Phoenix costs 19.5 bp, fee and slippage, 1.3× Popdex’s.
- Note: Margin at max leverage$500 + $1,000Popdex 20x, Phoenix 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: +$9.43Long Popdex: 24 payments, −$2.88; short Phoenix: 24 payments, +$12.31.
- Watch: Prices read 54 s apart−0.394% vs +0.147%Part of this gap may be the market moving.
- Watch: Long leg is thinner$83K vs $188K 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 legPopdex No · Phoenix NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned+0.0257%/8h × 21 periods+$54.00
Price spreadprices read too far apart to compare—
Slippage, 4 orderslive order books−$55.51
Fee Popdex bp × 2 orders−$6.40
Fee Phoenix bp × 2 orders−$7.00
Net · 7 days · $10k−$14.91
price spread not counted: prices read too far apartCosts to cover0.689%Break-even8.9 days
Slippage: Popdex: live order book, 35 min ago; Phoenix: live order book, 33 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPopdex3.7714.7 bp−$15119.6 bp−$1,196doesn’t fitdoesn’t fit
SELL · SHORTPhoenix2.9319.5 bp−$1956.7 bp−$567doesn’t fitdoesn’t fit
Closing costs about the same again.
Reya