Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 1.7284 | −0.0094 | get 0.0012% / 1h | 5m 28s | $202K | $23K | 5x | Long Phoenix | |
| SHORT | 1.7275 | +0.0100 | get 0.0013% / 1h | 5m 28s | $259K | $420K | 5x | Short Pacifica10% back |
Price gap−0.052%
Funding gap+0.0194% /8h
Funding pays +$6 a day on $10k, but the gap is 0.070% under its 7d average: −$7 if it goes back, about 29 hours of funding. At the last 7 days' pace that is about 13 hours.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$90+0.0194% /8h now · paid +0.899% over the last 7D
Price−$7spread −0.052% now, avg +0.018% → −0.070% if it goes back
Costs−$610.607% of $10k · taker + slippage, in and out
Result+$22+0.22%+ Points / potential airdropPacifica: 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−0.052%
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
3 ok · 3 to watch- Watch: Thin at this size20.3 / 9.9 bpAt $10k entering Phoenix costs 20.3 bp, fee and slippage, 2.0× Pacifica’s.
- Note: Margin at max leverage$2,000 + $2,000Phoenix 5x, Pacifica 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: +$5.81Long Phoenix: 24 payments, +$2.81; short Pacifica: 24 payments, +$3.00.
- Watch: Gap narrower than usual−0.052% vs +0.018%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Long leg is thinner$202K vs $259K OIPhoenix sets your exit cost. Check its book before closing.
- OK: Points on a legPacifica pointsVolume here counts toward the points program.
- OK: No KYC on either legPhoenix No · Pacifica 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+$89.94
Price spread−0.052% → +0.018% (7d avg)−$7.04
Slippage, 4 orderslive order books−$45.69
Fee Phoenix bp × 2 orders−$7.00
Fee Pacifica bp × 2 orders−$8.00
Net · 7 days · $10k+$22.21
Costs to cover0.607%Break-even5.3 days
Slippage: Phoenix: live order book, 32 min ago; Pacifica: live order book, 33 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix2.9220.3 bp−$20doesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTPacifica3.519.9 bp−$1059.6 bp−$596doesn’t fitdoesn’t fit
Closing costs about the same again.
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