Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 228.02 | +0.0034 | pay 0.0034% / 8h | 4h 46m | $916K | $9.1M | 200x | Long BingX | |
| SHORT | 227.76 | +0.0245 | get 0.0031% / 1h | 46m 32s | $12K | $238K | 20x | Short Phoenix |
Price gap−0.114%49s
Funding gap+0.0211% /8h
Funding pays +$6 a day on $10k, but the gap is 0.061% under its 7d average: −$6 if it goes back, about 23 hours of funding.
The two prices were read 49 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+$37+0.0211% /8h now · paid +0.370% over the last 7D
Price—spread −0.114%49s now · prices read too far apart to compare
Costs−$280.284% of $10k · taker + slippage, in and out
Result—no pointsneeds both prices read together
Price and funding
1h · loading 5m…Price spread
Prices
Fundingper 8h
P&L
PRICE SPREAD · 7D
Now−0.114%
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
/8hNVDA on 39 exchanges
lowest funding firstBefore you open
0 ok · 5 to watch- Watch: Large against open interest5.4 / 8.6 bp$10k is over 10% of Phoenix’s open interest.
- Note: Margin at max leverage$50 + $500BingX 200x, Phoenix 20x. 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: +$6.34Long BingX: 3 payments, −$1.02; short Phoenix: 24 payments, +$7.36.
- Watch: Prices read 49 s apart−0.114% vs −0.053%Part of this gap may be the market moving.
- Watch: Short leg is thinner$12K vs $916K 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+0.0176%/8h × 21 periods+$36.97
Price spreadprices read too far apart to compare—
Slippage, 4 orderslive order books−$11.41
Fee BingX bp × 2 orders−$10.00
Fee Phoenix bp × 2 orders−$7.00
Net · 7 days · $10k+$8.57
price spread not counted: prices read too far apartCosts to cover0.284%Break-even5.4 days
Slippage: BingX: live order book, 16 min ago; Phoenix: live order book, 24 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGBingX0.445.4 bp−$55.7 bp−$5710.0 bp−$99947.8 bp−$23.9K
SELL · SHORTPhoenix2.638.6 bp−$918.1 bp−$181doesn’t fitdoesn’t fit
Closing costs about the same again.
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