Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 119.44 | +0.0201 | pay 0.0025% / 1h | 41m 43s | $43K | $121K | 10x | Long Phoenix | |
| SHORT | 119.56 | +0.0120 | get 0.0015% / 1h | 41m 43s | $373K | $154K | 20x | Short Popdex |
Price gap+0.100%220s
Funding gap−0.0081% /8h
The gap pays +$5 on $10k if it goes back to its 7d average, but funding costs $2 a day and eats that in about 2.0 days.
The two prices were read 4 min 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−$24−0.0081% /8h now · paid −0.239% over the last 7D
Price—spread +0.100%220s now · prices read too far apart to compare
Costs−$360.359% of $10k · taker + slippage, in and out
Result—no pointsneeds both prices read together
Price and funding
1h · loading 5m…Entry / ExitPhoenix: thin, under $1M open interest · Popdex: thin, under $1M open interest
Price spread
Prices
Fundingper 8h
P&L
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now+0.100%
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
/8hINTC on 37 exchanges
lowest funding firstBefore you open
2 ok · 3 to watch- Watch: Large against open interest11.2 / 7.1 bp$10k is over 10% of Phoenix’s open interest.
- Note: Margin at max leverage$1,000 + $500Phoenix 10x, Popdex 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- OK: Same payment interval1h / 1hBoth legs pay at the same time.Next 24h at the current rates, on $10k a leg: −$2.43Long Phoenix: 24 payments, −$6.03; short Popdex: 24 payments, +$3.60.
- Watch: Prices read 4 min apart+0.100% vs +0.051%Part of this gap may be the market moving.
- Watch: Long leg is thinner$43K vs $373K OIPhoenix sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- OK: No KYC on either legPhoenix No · Popdex NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0126%/8h × 21 periods−$26.48
Price spreadprices read too far apart to compare—
Slippage, 4 orderslive order books−$22.51
Fee Phoenix bp × 2 orders−$7.00
Fee Popdex bp × 2 orders−$6.40
Net · 7 days · $10k−$62.40
price spread not counted: prices read too far apartCosts to cover0.359%Break-evennever at this rate
Slippage: Phoenix: live order book, 67 min ago; Popdex: live order book, 2 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix3.3711.2 bp−$1123.7 bp−$237doesn’t fitdoesn’t fit
SELL · SHORTPopdex1.677.1 bp−$714.3 bp−$143doesn’t fitdoesn’t fit
Closing costs about the same again.
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