Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 1,070.1 | +0.0298 | pay 0.0037% / 1h | 58m 23s | $552K | $98K | 15x | Long Phoenix | |
| SHORT | 1,070.5 | +0.0048 | get 0.0006% / 1h | 58m 23s | $424K | $429K | 20x | Short Popdex |
Price gap+0.038%59s
Funding gap−0.0250% /8h
The gap pays +$5 on $10k if it goes back to its 7d average, but funding costs $7 a day and eats that in about 15 hours.
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−$49−0.0250% /8h now · paid −0.487% over the last 7D
Price—spread +0.038%59s now · prices read too far apart to compare
Costs−$300.302% 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 · Popdex: 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+0.038%
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
3 ok · 2 to watch- OK: Fits both order books11.1 / 4.0 bpEntry at $10k a leg, taker fee + slippage. Closing costs about the same.
- Note: Margin at max leverage$667 + $500Phoenix 15x, Popdex 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: −$7.50Long Phoenix: 24 payments, −$8.94; short Popdex: 24 payments, +$1.44.
- Watch: Prices read 59 s apart+0.038% vs −0.008%Part of this gap may be the market moving.
- Watch: Short leg is thinner$424K vs $552K 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 legPhoenix No · Popdex NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0254%/8h × 21 periods−$53.43
Price spreadprices read too far apart to compare—
Slippage, 4 orderslive order books−$16.79
Fee Phoenix bp × 2 orders−$7.00
Fee Popdex bp × 2 orders−$6.40
Net · 7 days · $10k−$83.63
price spread not counted: prices read too far apartCosts to cover0.302%Break-evennever at this rate
Slippage: Phoenix: live order book, 33 min ago; Popdex: live order book, 35 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix2.8011.1 bp−$1123.7 bp−$237doesn’t fitdoesn’t fit
SELL · SHORTPopdex0.704.0 bp−$46.7 bp−$67doesn’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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