Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 191.38 | −0.0050 | get 0.0050% / 8h | 1h 07m | $949K | $1.3M | — | Long BingX | |
| SHORT | 191.30 | +0.0084 | get 0.0011% / 1h | 7m 08s | $5K | $514K | 10x | Short Phoenix |
Price gap−0.042%
Funding gap+0.0134% /8h
Funding pays +$4 a day on $10k, but the gap is 0.031% under its 7d average: −$3 if it goes back, about 19 hours of funding.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$51+0.0134% /8h now · paid +0.507% over the last 7D
Price−$3spread −0.042% now, avg −0.010% → −0.031% if it goes back
Costs−$740.737% of $10k · taker + slippage, in and out
Price and funding
1h · loading 5m…Price spread
Prices
Fundingper 8h
P&L
PRICE SPREAD · 7D
Now−0.042%
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
/8hMRNA on 23 exchanges
lowest funding firstBefore you open
0 ok · 5 to watch- Watch: Thin at this size18.0 / 19.5 bpAt $10k entering Phoenix costs 19.5 bp, fee and slippage, 1.1× BingX’s.
- 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: +$4.03Long BingX: 3 payments, +$1.50; short Phoenix: 24 payments, +$2.53.
- Watch: Gap narrower than usual−0.042% vs −0.010%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Short leg is thinner$5K vs $949K 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+0.0242%/8h × 21 periods+$50.72
Price spread−0.042% → −0.010% (7d avg)−$3.14
Slippage, 4 orderslive order books−$56.73
Fee BingX bp × 2 orders−$10.00
Fee Phoenix bp × 2 orders−$7.00
Net · 7 days · $10k−$26.15
Costs to cover0.737%Break-even10.6 days
Slippage: BingX: live order book, 6 min ago; Phoenix: live order book, 50 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGBingX5.2218.0 bp−$1844.9 bp−$44992.7 bp−$9,267474.7 bp−$237.3K
SELL · SHORTPhoenix3.1719.5 bp−$2060.5 bp−$605doesn’t fitdoesn’t fit
Closing costs about the same again.
| 09-18 17:43 | Avantis | Other | Biotech. $LLY — orals expanding the market, or trading injectable economics for cash-pay economics? $MRNA — Intismeran turns a per-patient therapy into a real franchise, or the readout bought optionality the balance sheet still has to finance? @verantaxyz on X ↗ |
Avantis