Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 191.13 | +0.0084 | pay 0.0011% / 1h | 43m 27s | $5K | $514K | 10x | Long Phoenix | |
| SHORT | 190.86 | −0.0050 | pay 0.0050% / 8h | 1h 43m | $949K | $1.3M | — | Short BingX |
Price gap−0.141%
Funding gap−0.0134% /8h
Both sides work against this direction now: funding costs $4 a day on $10k and the gap is 0.152% 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−$51−0.0134% /8h now · paid −0.507% over the last 7D
Price−$15spread −0.141% now, avg +0.010% → −0.152% if it goes back
Costs−$650.650% of $10k · taker + slippage, in and out
Price and funding
1h · loading 5m…Price spread
Prices
Fundingper 8h
P&L
PRICE SPREAD · 7D
Now−0.141%
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 size18.3 / 14.0 bpAt $10k entering Phoenix costs 18.3 bp, fee and slippage, 1.3× BingX’s.
- Note: Margin at max leverage$1,000 + —Phoenix 10x, BingX —. 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: −$4.03Long Phoenix: 24 payments, −$2.53; short BingX: 3 payments, −$1.50.
- Watch: Gap narrower than usual−0.141% vs +0.010%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Long 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: KYCPhoenix No · BingX YesAdvanced 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−0.141% → +0.010% (7d avg)−$15.17
Slippage, 4 orderslive order books−$47.98
Fee Phoenix bp × 2 orders−$7.00
Fee BingX bp × 2 orders−$10.00
Net · 7 days · $10k−$130.87
Costs to cover0.650%Break-evennever at this rate
Slippage: Phoenix: live order book, 13 min ago; BingX: live order book, 5 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix3.1718.3 bp−$1871.8 bp−$718doesn’t fitdoesn’t fit
SELL · SHORTBingX1.0414.0 bp−$1440.1 bp−$40187.5 bp−$8,754544.4 bp−$272.2K
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