Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 228.00 | +0.0245 | pay 0.0031% / 1h | 11m 19s | $12K | $238K | 20x | Long Phoenix | |
| SHORT | 228.09 | +0.0042 | get 0.0042% / 8h | 4h 11m | $916K | $9.1M | 200x | Short BingX |
Price gap+0.039%
Funding gap−0.0203% /8h
Funding costs $6 a day on $10k at the current rate. Swap the legs.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$37−0.0203% /8h now · paid −0.370% over the last 7D
Price−$1spread +0.039% now, avg +0.053% → −0.013% if it goes back
Costs−$280.280% of $10k · taker + slippage, in and out
Price and funding
1h · loading 5m…Price spread
Prices
Fundingper 8h
P&L
PRICE SPREAD · 7D
Now+0.039%
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 · 4 to watch- Watch: Large against open interest8.6 / 5.4 bp$10k is over 10% of Phoenix’s open interest.
- Note: Margin at max leverage$500 + $50Phoenix 20x, BingX 200x. 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: −$6.10Long Phoenix: 24 payments, −$7.36; short BingX: 3 payments, +$1.26.
- Note: Gap at its usual level+0.039% vs +0.053%The price leg adds little either way.
- Watch: Long 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: 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−0.0176%/8h × 21 periods−$36.97
Price spread+0.039% → +0.053% (7d avg)−$1.35
Slippage, 4 orderslive order books−$11.05
Fee Phoenix bp × 2 orders−$7.00
Fee BingX bp × 2 orders−$10.00
Net · 7 days · $10k−$66.37
Costs to cover0.280%Break-evennever at this rate
Slippage: Phoenix: live order book, 59 min ago; BingX: live order book, 6 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix2.638.6 bp−$918.0 bp−$180doesn’t fitdoesn’t fit
SELL · SHORTBingX0.445.4 bp−$55.5 bp−$559.7 bp−$97251.1 bp−$25.5K
Closing costs about the same again.
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