Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 109.88 | 0 | 0.0000% / 4h | 1m 10s | $2.1M | $40K | 100x | Long Phemex | |
| SHORT | 109.49 | −0.0063 | pay 0.0008% / 1h | 1m 10s | $410K | $682K | 20x | Short TxFlow5% off |
Price gap−0.355%
Funding gap−0.0063% /8h
Both sides work against this direction now: funding costs $2 a day on $10k and the gap is 0.234% 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−$23−0.0063% /8h now · paid −0.231% over the last 7D
Price−$23spread −0.355% now, avg −0.121% → −0.234% if it goes back
Costs−$1701.697% of $10k · taker + slippage, in and out
Result−$216−2.16%+ Points / potential airdropTxFlow: 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−0.355%
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
/8hBZ on 35 exchanges
lowest funding firstBefore you open
1 ok · 5 to watch- Watch: Thin at this size74.5 / 5.1 bpAt $10k entering Phemex costs 74.5 bp, fee and slippage, 14.7× TxFlow’s.
- Note: Margin at max leverage$100 + $500Phemex 100x, TxFlow 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ4h / 1hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$1.88Long Phemex: 6 payments, $0.00; short TxFlow: 24 payments, −$1.88.
- Watch: Gap narrower than usual−0.355% vs −0.121%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Short leg is thinner$410K vs $2.1M OITxFlow sets your exit cost. Check its book before closing.
- OK: Points on a legTxFlow pointsVolume here counts toward the points program.
- Watch: KYCPhemex Yes · TxFlow NoKYC unlocks spot and futures trading; an unverified account cannot withdraw at all.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0110%/8h × 21 periods−$23.14
Price spread−0.355% → −0.121% (7d avg)−$23.40
Slippage, 4 orderslive order books−$148.70
Fee Phemex bp × 2 orders−$12.00
Fee TxFlow bp × 2 orders−$9.00
Net · 7 days · $10k−$216.24
Costs to cover1.697%Break-evennever at this rate
Slippage: Phemex: live order book, 6 min ago; TxFlow: live order book, 6 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhemex1.8274.5 bp−$74142.5 bp−$1,425doesn’t fitdoesn’t fit
SELL · SHORTTxFlow0.465.1 bp−$58.7 bp−$8770.4 bp−$7,036doesn’t fit
Closing costs about the same again.
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