Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 510.97 | +0.0050 | pay 0.0050% / 8h | 1h 44m | $927K | $1.7M | — | Long BingX | |
| SHORT | 509.86 | +0.0140 | get 0.0018% / 1h | 44m 17s | $21K | $176K | 10x | Short Phoenix |
Price gap−0.217%64s
Funding gap+0.0090% /8h
Funding pays +$3 a day on $10k, but the gap is 0.201% under its 7d average: −$20 if it goes back, about 7.4 days of funding.
The two prices were read 64 s apart: part of this gap may be the market moving.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$27+0.0090% /8h now · paid +0.270% over the last 7D
Price—spread −0.217%64s now · prices read too far apart to compare
Costs−$360.360% of $10k · taker + slippage, in and out
Result—no pointsneeds both prices read together
Price and funding
1h · loading 5m…Price spread
Prices
Fundingper 8h
P&L
PRICE SPREAD · 7D
Now−0.217%
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
/8hAMAT on 17 exchanges
lowest funding firstBefore you open
0 ok · 5 to watch- Watch: Large against open interest8.5 / 10.2 bp$10k is over 10% of Phoenix’s open interest.
- Note: Margin at max leverage— + $1,000BingX —, Phoenix 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ8h / 1hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: +$2.71Long BingX: 3 payments, −$1.50; short Phoenix: 24 payments, +$4.21.
- Watch: Prices read 64 s apart−0.217% vs −0.016%Part of this gap may be the market moving.
- Watch: Short leg is thinner$21K vs $927K OIPhoenix sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCBingX Yes · Phoenix NoAdvanced KYC to deposit or trade; unverified accounts can only withdraw, up to 20,000 USDT a day. Rules vary by region.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned+0.0128%/8h × 21 periods+$26.96
Price spreadprices read too far apart to compare—
Slippage, 4 orderslive order books−$19.03
Fee BingX bp × 2 orders−$10.00
Fee Phoenix bp × 2 orders−$7.00
Net · 7 days · $10k−$9.08
price spread not counted: prices read too far apartCosts to cover0.360%Break-even9.4 days
Slippage: BingX: live order book, 6 min ago; Phoenix: live order book, 15 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGBingX0.108.5 bp−$822.5 bp−$22581.7 bp−$8,167505.3 bp−$252.6K
SELL · SHORTPhoenix2.9310.2 bp−$1020.9 bp−$209doesn’t fitdoesn’t fit
Closing costs about the same again.