Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 1.4613 | −0.0053 | get 0.0007% / 1h | 56m 54s | $124K | $148K | 5x | Long Phoenix | |
| SHORT | 1.4879 | +0.0102 | get 0.0013% / 1h | 56m 54s | $384K | $916K | 20x | Short Kraken Futures |
Price gap+1.819%
Funding gap+0.0155% /8h
Both sides work: funding pays +$5 a day on $10k, and the gap is 1.847% above its 7d average: +$185 more if it goes back.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$59+0.0155% /8h now · paid +0.587% over the last 7D
Price+$185spread +1.819% now, avg −0.028% → +1.847% if it goes back
Costs−$1151.155% 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+1.819%
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
2 ok · 3 to watch- Watch: Thin at this size25.1 / 33.9 bpAt $10k entering Kraken Futures costs 33.9 bp, fee and slippage, 1.4× Phoenix’s.
- Note: Margin at max leverage$2,000 + $500Phoenix 5x, Kraken Futures 20x. 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: +$4.64Long Phoenix: 24 payments, +$1.58; short Kraken Futures: 24 payments, +$3.06.
- OK: Entry gap works for you+1.819% vs −0.028%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Long leg is thinner$124K vs $384K OIPhoenix sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCPhoenix No · Kraken Futures YesFull 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 spread+1.819% → −0.028% (7d avg)+$184.67
Slippage, 4 orderslive order books−$98.49
Fee Phoenix bp × 2 orders−$7.00
Fee Kraken Futures bp × 2 orders−$10.00
Net · 7 days · $10k+$127.92
Costs to cover1.155%Break-evenfrom the start
Slippage: Phoenix: live order book, 28 min ago; Kraken Futures: live order book, 50 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix6.9425.1 bp−$2572.4 bp−$724doesn’t fitdoesn’t fit
SELL · SHORTKraken Futures15.8733.9 bp−$34166.8 bp−$1,668doesn’t fitdoesn’t fit
Closing costs about the same again.
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