Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 1.7292 | +0.0043 | pay 0.0021% / 4h | 12m 12s | $35.6M | $25.2M | 75x | Long Binance | |
| SHORT | 1.7258 | −0.0140 | pay 0.0018% / 1h | 12m 12s | $201K | $19K | 5x | Short Phoenix |
Price gap−0.197%92s
Funding gap−0.0183% /8h
Both sides work against this direction now: funding costs $5 a day on $10k and the gap is 0.246% under its 7d average. Swap the legs.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$79−0.0183% /8h now · paid −0.787% over the last 7D
Price—spread −0.197%92s now · prices read too far apart to compare
Costs−$620.618% of $10k · taker + slippage, in and out
Result—no pointsneeds both prices read together
Price and funding
1h · historyEntry / Exit
Price spread
Prices
Fundingper 8h
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now−0.197%
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
/8hZRO on 30 exchanges
lowest funding firstBefore you open
0 ok · 5 to watch- Watch: Thin at this size10.5 / 20.6 bpAt $10k entering Phoenix costs 20.6 bp, fee and slippage, 2.0× Binance’s.
- Note: Margin at max leverage$133 + $2,000Binance 75x, Phoenix 5x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ4h / 1hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$5.50Long Binance: 6 payments, −$1.29; short Phoenix: 24 payments, −$4.21.
- Watch: Prices read 92 s apart−0.197% vs +0.049%Part of this gap may be the market moving.
- Watch: Short leg is thinner$201K vs $35.6M OIPhoenix sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCBinance Yes · Phoenix NoVerified KYC to deposit or trade; futures accounts under 30 days old are capped at 20x.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0375%/8h × 21 periods−$78.69
Price spreadprices read too far apart to compare—
Slippage, 4 orderslive order books−$44.84
Fee Binance bp × 2 orders−$10.00
Fee Phoenix bp × 2 orders−$7.00
Net · 7 days · $10k−$140.53
price spread not counted: prices read too far apartCosts to cover0.618%Break-evennever at this rate
Slippage: Binance: live order book, 9 min ago; Phoenix: live order book, 8 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGBinance0.2910.5 bp−$1027.3 bp−$273138.3 bp−$13.8Kdoesn’t fit
SELL · SHORTPhoenix2.9120.6 bp−$2158.9 bp−$589doesn’t fitdoesn’t fit
Closing costs about the same again.
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