Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 160.79 | +0.0048 | pay 0.0006% / 1h | 59m 41s | $14K | $303K | 20x | Long Popdex | |
| SHORT | 160.19 | −0.0259 | pay 0.0032% / 1h | 59m 41s | $192K | $927K | 10x | Short Arcus5% off |
Price gap−0.373%55s
Funding gap−0.0307% /8h
Both sides work against this direction now: funding costs $9 a day on $10k and the gap is 0.314% under its 7d average. Swap the legs.
The two prices were read 55 s 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−$1−0.0307% /8h now · paid −0.013% over the last 6 days (all we have)
Price—spread −0.373%55s now · prices read too far apart to compare
Costs−$1471.467% of $10k · taker + slippage, in and out
Result—no pointsneeds both prices read together
The current funding rate is far below what this pair has been paying: over the last 6 days it paid −0.013% in total, about −0.0007%/8h on average.
Price and funding
1h · loading 5m…Price spread
Prices
Fundingper 8h
P&L
PRICE SPREAD · 7D
Now−0.373%
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
/8hMSTR on 35 exchanges
lowest funding firstBefore you open
2 ok · 3 to watch- Watch: Thin at this size5.3 / 107.3 bpAt $10k entering Arcus costs 107.3 bp, fee and slippage, 20.2× Popdex’s.
- Note: Margin at max leverage$500 + $1,000Popdex 20x, Arcus 10x. 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: −$9.22Long Popdex: 24 payments, −$1.44; short Arcus: 24 payments, −$7.78.
- Watch: Prices read 55 s apart−0.373% vs −0.059%Part of this gap may be the market moving.
- Watch: Long leg is thinner$14K vs $192K OIPopdex sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- OK: No KYC on either legPopdex No · Arcus NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0007%/8h × 21 periods−$1.49
Price spreadprices read too far apart to compare—
Slippage, 4 orderslive order books−$135.79
Fee Popdex bp × 2 orders−$6.40
Fee Arcus bp × 2 orders−$4.50
Net · 7 days · $10k−$148.17
price spread not counted: prices read too far apartCosts to cover1.467%Break-evennever at this rate
Slippage: Popdex: live order book, 7 min ago; Arcus: live order book, 8 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPopdex0.935.3 bp−$511.3 bp−$113doesn’t fitdoesn’t fit
SELL · SHORTArcus23.68107.3 bp−$107doesn’t fitdoesn’t fitdoesn’t fit
Closing costs about the same again.
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