Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 1,070.7 | +0.0298 | pay 0.0037% / 1h | 57m 54s | $552K | $99K | 15x | Long Phoenix | |
| SHORT | 1,069.9 | +0.0194 | get 0.0024% / 1h | 57m 54s | $208K | $294K | 20x | Short Kraken Futures |
Price gap−0.079%59s
Funding gap−0.0104% /8h
Both sides work against this direction now: funding costs $3 a day on $10k and the gap is 0.021% under its 7d average. Swap the legs.
The two prices were read 59 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−$45−0.0104% /8h now · paid −0.451% over the last 7D
Price—spread −0.079%59s now · prices read too far apart to compare
Costs−$430.428% of $10k · taker + slippage, in and out
Result—no pointsneeds both prices read together
Price and funding
1h · historyEntry / ExitPhoenix: thin, under $1M open interest · Kraken Futures: thin, under $1M open interest
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−0.079%
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
/8hMU on 40 exchanges
lowest funding firstBefore you open
2 ok · 3 to watch- OK: Fits both order books11.1 / 9.4 bpEntry at $10k a leg, taker fee + slippage. Closing costs about the same.
- Note: Margin at max leverage$667 + $500Phoenix 15x, Kraken Futures 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: −$3.13Long Phoenix: 24 payments, −$8.94; short Kraken Futures: 24 payments, +$5.81.
- Watch: Prices read 59 s apart−0.079% vs −0.058%Part of this gap may be the market moving.
- Watch: Short leg is thinner$208K vs $552K OIKraken Futures sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCPhoenix No · Kraken Futures YesFull verification; not offered in the US (a separate US product), Canada, Australia (wholesale only) or to retail UK clients.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0215%/8h × 21 periods−$45.10
Price spreadprices read too far apart to compare—
Slippage, 4 orderslive order books−$25.84
Fee Phoenix bp × 2 orders−$7.00
Fee Kraken Futures bp × 2 orders−$10.00
Net · 7 days · $10k−$87.95
price spread not counted: prices read too far apartCosts to cover0.428%Break-evennever at this rate
Slippage: Phoenix: live order book, 33 min ago; Kraken Futures: live order book, 34 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix2.8011.1 bp−$1123.7 bp−$237doesn’t fitdoesn’t fit
SELL · SHORTKraken Futures2.349.4 bp−$936.8 bp−$368doesn’t fitdoesn’t fit
Closing costs about the same again.
| 09-30 17:30 | MEXC | Other | $MU has been ripping into earnings. Now the market gets the next read on margins, capex, and AI demand. 👀 Same event. Different instincts. Which read sounds like you? 👇 #MEXCTradFi #MEXC0FEE @MEXC on X ↗ |
| 09-30 15:30 | Phoenix | Other | $MU reports full fiscal year earnings today, after the market closes. Trade it 24/7 on Phoenix: @PhoenixTrade on X ↗ |
| 09-30 14:19 | Phemex | Other | $MU earnings after the close. Consensus is already sitting near the company’s own Q4 guide. So the move won’t come from “did they print $50B.” It comes from the next sentence: HBM allocation, memory pricing, and FY27 guidance. $MU last close ~$1,065. Resistance: $1,096–$1,106 Support: $1,044–$1,048 Guidance raise, hold, or tighten, that’s the volatility. @Phemex_official on X ↗ |
| 09-30 12:00 | MEXC | Other | $MU is up ~280% YTD heading into earnings. 👀 What moves the next leg: margins or capex? @MEXC on X ↗ |
| 09-30 08:02 | BingX | Other | $MU’s next move could come down to what management says next. See what matters heading into earnings 👇 @BingXOfficial on X ↗ |
| 09-30 06:30 | MEXC | Other | $MU is up nearly 280% this year. Now comes the harder test. 👀 Can guidance keep the memory trade alive? @MEXC_Research breaks down what matters before earnings. 👇 @MEXC on X ↗ |
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