Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 1.7084 | −0.0094 | get 0.0012% / 1h | 51m 14s | $199K | $23K | 5x | Long Phoenix | |
| SHORT | 1.7110 | +0.0104 | get 0.0013% / 1h | 51m 14s | $656K | $459K | 10x | Short Extended10% off |
Price gap+0.149%
Funding gap+0.0198% /8h
Both sides work: funding pays +$6 a day on $10k, and the gap is 0.227% above its 7d average: +$23 more if it goes back.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$90+0.0198% /8h now · paid +0.900% over the last 7D
Price+$23spread +0.149% now, avg −0.077% → +0.227% if it goes back
Costs−$610.605% of $10k · taker + slippage, in and out
Result+$52+0.52%+ Points / potential airdropExtended: points · farm boardWhat the last 7D really paid, hour by hour → backtest
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+0.149%
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
4 ok · 2 to watch- Watch: Thin at this size20.6 / 11.5 bpAt $10k entering Phoenix costs 20.6 bp, fee and slippage, 1.8× Extended’s.
- Note: Margin at max leverage$2,000 + $1,000Phoenix 5x, Extended 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: +$5.93Long Phoenix: 24 payments, +$2.81; short Extended: 24 payments, +$3.12.
- OK: Entry gap works for you+0.149% vs −0.077%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Long leg is thinner$199K vs $656K OIPhoenix sets your exit cost. Check its book before closing.
- OK: Points on a legExtended pointsVolume here counts toward the points program.
- OK: No KYC on either legPhoenix No · Extended NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned+0.0428%/8h × 21 periods+$89.98
Price spread+0.149% → −0.077% (7d avg)+$22.66
Slippage, 4 orderslive order books−$48.54
Fee Phoenix bp × 2 orders−$7.00
Fee Extended bp × 2 orders−$5.00
Net · 7 days · $10k+$52.11
Costs to cover0.605%Break-even2.9 days
Slippage: Phoenix: live order book, 51 min ago; Extended: live order book, 23 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix2.9120.6 bp−$21doesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTExtended2.0411.5 bp−$12358.1 bp−$3,581doesn’t fitdoesn’t fit
Closing costs about the same again.
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