Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 1.7732 | −0.0225 | get 0.0028% / 1h | 4m 42s | $209K | $21K | 5x | Long Phoenix | |
| SHORT | 1.7715 | −0.1096 | pay 0.0137% / 1h | 4m 42s | $9K | $168K | 10x | Short Injective |
Price gap−0.098%
Funding gap−0.0871% /8h
Funding costs $26 a day on $10k at the current rate. Swap the legs.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$64−0.0871% /8h now · paid +0.637% over the last 7D
Price−$2spread −0.098% now, avg −0.079% → −0.019% if it goes back
Costs−$1151.154% of $10k · taker + slippage, in and out
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−0.098%
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
2 ok · 2 to watch- Watch: Thin at this size20.3 / 34.3 bpAt $10k entering Injective costs 34.3 bp, fee and slippage, 1.7× Phoenix’s.
- Note: Margin at max leverage$2,000 + $1,000Phoenix 5x, Injective 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: −$26.12Long Phoenix: 24 payments, +$6.75; short Injective: 24 payments, −$32.87.
- Note: Gap at its usual level−0.098% vs −0.079%The price leg adds little either way.
- Watch: Short leg is thinner$9K vs $209K OIInjective 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 · Injective NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned+0.0303%/8h × 21 periods+$63.71
Price spread−0.098% → −0.079% (7d avg)−$1.93
Slippage, 4 orderslive order books−$108.34
Fee Phoenix bp × 2 orders−$7.00
Fee Injective bp × 2 orders−$0.02
Net · 7 days · $10k−$53.58
Costs to cover1.154%Break-even12.9 days
Slippage: Phoenix: live order book, 36 min ago; Injective: live order book, 8 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix2.8020.3 bp−$20doesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTInjective28.1734.3 bp−$34doesn’t fitdoesn’t fitdoesn’t fit
Closing costs about the same again.
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