Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 1,936.3 | +0.0084 | pay 0.0010% / 1h | 50m 30s | $1.1M | $47K | 6x | Long Phoenix | |
| SHORT | 1,934.8 | 0 | 0.0000% / 8h | 2h 50m | $2.6M | $897K | 50x | Short Gate |
Price gap−0.079%62s
Funding gap−0.0084% /8h
Both sides work against this direction now: funding costs $3 a day on $10k and the gap is 0.303% under its 7d average. Swap the legs.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$3−0.0084% /8h now · paid +0.029% over the last 7D
Price—spread −0.079%62s now · prices read too far apart to compare
Costs−$7327.321% of $10k · taker + slippage, in and out
Result—no pointsneeds both prices read together
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−0.079%
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
0 ok · 4 to watch- Watch: Thin at this size44.8 / 165.2 bpAt $10k entering Gate costs 165.2 bp, fee and slippage, 3.7× Phoenix’s.
- Note: Margin at max leverage$1,667 + $200Phoenix 6x, Gate 50x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ1h / 8hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$2.52Long Phoenix: 24 payments, −$2.52; short Gate: 3 payments, $0.00.
- Watch: Prices read 62 s apart−0.079% vs +0.224%Part of this gap may be the market moving.
- Note: Long leg is thinner$1.1M vs $2.6M OIBoth legs are deep; Phoenix is the smaller one.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCPhoenix No · Gate YesKYC before the futures account opens; unverified accounts can only withdraw and close positions.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned+0.0014%/8h × 21 periods+$2.89
Price spreadprices read too far apart to compare—
Slippage, 4 orderslive order books−$710.14
Fee Phoenix bp × 2 orders−$7.00
Fee Gate bp × 2 orders−$15.00
Net · 7 days · $10k−$729.25
price spread not counted: prices read too far apartCosts to cover7.321%Break-even1772.2 days
Slippage: Phoenix: live order book, 2 min ago; Gate: live order book, 2 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix3.1044.8 bp−$45264.2 bp−$2,642doesn’t fitdoesn’t fit
SELL · SHORTGate11.94165.2 bp−$165doesn’t fitdoesn’t fitdoesn’t fit
Closing costs about the same again.
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