Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 1.5223 | +0.0502 | pay 0.0063% / 1h | 51m 56s | $401K | $818K | 20x | Long Kraken Futures | |
| SHORT | 1.5246 | −0.0053 | pay 0.0007% / 1h | 51m 56s | $137K | $148K | 5x | Short Phoenix |
Price gap+0.152%61s
Funding gap−0.0554% /8h
The gap pays +$13 on $10k if it goes back to its 7d average, but funding costs $17 a day and eats that in about 19 hours.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$59−0.0554% /8h now · paid −0.587% over the last 7D
Price—spread +0.152%61s now · prices read too far apart to compare
Costs−$980.984% 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+0.152%
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 31 exchanges
lowest funding firstBefore you open
1 ok · 4 to watch- Watch: Thin at this size22.6 / 20.8 bpAt $10k entering Kraken Futures costs 22.6 bp, fee and slippage, 1.1× Phoenix’s.
- Note: Margin at max leverage$500 + $2,000Kraken Futures 20x, Phoenix 5x. 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: −$16.62Long Kraken Futures: 24 payments, −$15.05; short Phoenix: 24 payments, −$1.58.
- Watch: Prices read 61 s apart+0.152% vs +0.023%Part of this gap may be the market moving.
- Watch: Short leg is thinner$137K vs $401K OIPhoenix sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCKraken Futures Yes · Phoenix NoFull verification; not offered in the US (a separate US product), Canada, Australia (wholesale only) or to retail UK clients.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0280%/8h × 21 periods−$58.73
Price spreadprices read too far apart to compare—
Slippage, 4 orderslive order books−$81.45
Fee Kraken Futures bp × 2 orders−$10.00
Fee Phoenix bp × 2 orders−$7.00
Net · 7 days · $10k−$157.18
price spread not counted: prices read too far apartCosts to cover0.984%Break-evennever at this rate
Slippage: Kraken Futures: live order book, 60 min ago; Phoenix: live order book, 38 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGKraken Futures14.1822.6 bp−$2383.5 bp−$835doesn’t fitdoesn’t fit
SELL · SHORTPhoenix3.2220.8 bp−$2159.2 bp−$592doesn’t fitdoesn’t fit
Closing costs about the same again.
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| 10-15 07:23 | RISEx | Listing | new market ZRO/USDC ($ZRO) seen by our collector |


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