Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 18.530 | +0.0050 | pay 0.0006% / 1h | 7m 33s | $1.3M | $391K | 10x | Long tradeXYZ | |
| SHORT | 18.545 | 0 | 0.0000% / 8h | 7m 33s | $1.5M | $423K | 10x | Short Phemex |
Price gap+0.078%
Funding gap−0.0050% /8h
Both sides work against this direction now: funding costs $2 a day on $10k and the gap is 0.111% 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−$59−0.0050% /8h now · paid −0.589% over the last 7D
Price−$11spread +0.078% now, avg +0.190% → −0.111% if it goes back
Costs−$1151.153% of $10k · taker + slippage, in and out
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+0.078%
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
/8hKSTR on 15 exchanges
lowest funding firstBefore you open
1 ok · 4 to watch- Watch: Thin at this size4.8 / 50.8 bpAt $10k entering Phemex costs 50.8 bp, fee and slippage, 10.6× tradeXYZ’s.
- Note: Margin at max leverage$1,000 + $1,000tradeXYZ 10x, Phemex 10x. 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: −$1.50Long tradeXYZ: 24 payments, −$1.50; short Phemex: 3 payments, $0.00.
- Watch: Gap narrower than usual+0.078% vs +0.190%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Note: Long leg is thinner$1.3M vs $1.5M OIBoth legs are deep; tradeXYZ is the smaller one.
- OK: Points on a legtradeXYZ pointsVolume here counts toward the points program.
- Watch: KYCtradeXYZ No · Phemex YesKYC 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−0.0280%/8h × 21 periods−$58.86
Price spread+0.078% → +0.190% (7d avg)−$11.14
Slippage, 4 orderslive order books−$101.52
Fee tradeXYZ bp × 2 orders−$1.80
Fee Phemex bp × 2 orders−$12.00
Net · 7 days · $10k−$185.33
Costs to cover1.153%Break-evennever at this rate
Slippage: tradeXYZ: live order book, just now; Phemex: live order book, 4 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGtradeXYZ2.974.8 bp−$527.1 bp−$271doesn’t fitdoesn’t fit
SELL · SHORTPhemex2.7050.8 bp−$51doesn’t fitdoesn’t fitdoesn’t fit
Closing costs about the same again.
OKX