Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 1,880 | +0.0026 | pay 0.0026% / 8h | 7h 44m | $1.5M | $262K | 20x | Long BloFin | |
| SHORT | 1,921.4 | +0.0208 | get 0.0026% / 1h | 44m 19s | $1.1M | $46K | 6x | Short Phoenix |
Price gap+2.204%
Funding gap+0.0182% /8h
Both sides work: funding pays +$5 a day on $10k, and the gap is 0.310% above its 7d average: +$31 more if it goes back.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$9+0.0182% /8h now · paid −0.091% over the last 7D
Price+$31spread +2.204% now, avg +1.894% → +0.310% if it goes back
Costsdoesn’t fit$10k a leg is deeper than the books hold
Result, before costs+$22+0.22%no pointscosts unknown: book too thin at $10k · What 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+2.204%
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
/8hANTHROPIC on 26 exchanges
lowest funding firstBefore you open
1 ok · 3 to watch- Problem: Doesn’t fit the books—$10k a leg is deeper than BloFin’s order book right now.
- Note: Margin at max leverage$500 + $1,667BloFin 20x, Phoenix 6x. 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: +$5.46Long BloFin: 3 payments, −$0.78; short Phoenix: 24 payments, +$6.24.
- OK: Entry gap works for you+2.204% vs +1.894%You short the dearer leg. If the gap goes back to average, the short gains.
- Note: Short leg is thinner$1.1M vs $1.5M OIBoth legs are deep; Phoenix is the smaller one.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCBloFin Limited · Phoenix NoNo ID to trade futures, with no leverage limit, but withdrawals are capped at 20,000 USDT a day until you verify.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0043%/8h × 21 periods−$9.09
Price spread+2.204% → +1.894% (7d avg)+$31.02
Slippage, 4 ordersdoesn’t fit the book at $10k—
Fee BloFin bp × 2 orders−$12.00
Fee Phoenix bp × 2 orders−$7.00
Net · 7 days · $10k—
doesn’t fit the books at $10kCosts to cover—Break-even—
Slippage: BloFin: live order book, 3 min ago; Phoenix: live order book, 3 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGBloFin1.17doesn’t fitdoesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTPhoenix3.1243.7 bp−$44279.9 bp−$2,799doesn’t fitdoesn’t fit
Closing costs about the same again.
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