Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 115.19 | +0.0235 | pay 0.0235% / 8h | 1h 43m | $978K | $8.2M | — | Long BingX | |
| SHORT | 115.17 | +0.0138 | get 0.0017% / 1h | 43m 27s | $27K | $314K | 10x | Short Phoenix |
Price gap−0.017%
Funding gap−0.0097% /8h
Funding costs $3 a day on $10k at the current rate. Swap the legs.
Funding on this pair paid 0.306% over the last 7 days: the rate has only just turned.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$31−0.0097% /8h now · paid +0.306% over the last 7D
Price+$2spread −0.017% now, avg −0.032% → +0.015% if it goes back
Costs−$400.398% of $10k · taker + slippage, in and out
Price and funding
1h · loading 5m…Price spread
Prices
Fundingper 8h
P&L
PRICE SPREAD · 7D
Now−0.017%
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
/8hHOOD on 33 exchanges
lowest funding firstBefore you open
0 ok · 4 to watch- Watch: Large against open interest9.5 / 11.3 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: −$2.91Long BingX: 3 payments, −$7.05; short Phoenix: 24 payments, +$4.14.
- Note: Gap at its usual level−0.017% vs −0.032%The price leg adds little either way.
- Watch: Short leg is thinner$27K vs $978K 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+0.0146%/8h × 21 periods+$30.64
Price spread−0.017% → −0.032% (7d avg)+$1.51
Slippage, 4 orderslive order books−$22.80
Fee BingX bp × 2 orders−$10.00
Fee Phoenix bp × 2 orders−$7.00
Net · 7 days · $10k−$7.65
Costs to cover0.398%Break-even8.7 days
Slippage: BingX: live order book, 14 min ago; Phoenix: live order book, 10 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGBingX0.439.5 bp−$1021.9 bp−$21962.4 bp−$6,242114.4 bp−$57.2K
SELL · SHORTPhoenix2.6011.3 bp−$1124.1 bp−$241doesn’t fitdoesn’t fit
Closing costs about the same again.
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