Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 708.45 | +0.0192 | pay 0.0024% / 1h | 30m 52s | $112K | $5K | 20x | Long Phoenix | |
| SHORT | 708.08 | +0.0048 | get 0.0006% / 1h | 30m 52s | $409K | $123K | 20x | Short Popdex |
Price gap−0.052%59s
Funding gap−0.0144% /8h
Both sides work against this direction now: funding costs $4 a day on $10k and the gap is 0.095% under its 7d average. Swap the legs.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$37−0.0144% /8h now · paid −0.369% over the last 7D
Price—spread −0.052%59s now · prices read too far apart to compare
Costs−$290.285% of $10k · taker + slippage, in and out
Result—no pointsneeds both prices read together
Price and funding
1h · historyEntry / Exit
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−0.052%
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
/8hQQQ on 35 exchanges
lowest funding firstBefore you open
3 ok · 2 to watch- OK: Fits both order books9.6 / 3.8 bpEntry at $10k a leg, taker fee + slippage. Closing costs about the same.
- Note: Margin at max leverage$500 + $500Phoenix 20x, 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: −$4.32Long Phoenix: 24 payments, −$5.76; short Popdex: 24 payments, +$1.44.
- Watch: Prices read 59 s apart−0.052% vs +0.043%Part of this gap may be the market moving.
- Watch: Long leg is thinner$112K vs $409K OIPhoenix 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−0.0176%/8h × 21 periods−$36.91
Price spreadprices read too far apart to compare—
Slippage, 4 orderslive order books−$15.11
Fee Phoenix bp × 2 orders−$7.00
Fee Popdex bp × 2 orders−$6.40
Net · 7 days · $10k−$65.42
price spread not counted: prices read too far apartCosts to cover0.285%Break-evennever at this rate
Slippage: Phoenix: live order book, 19 min ago; Popdex: live order book, 22 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix0.149.6 bp−$1017.0 bp−$170doesn’t fitdoesn’t fit
SELL · SHORTPopdex0.423.8 bp−$47.1 bp−$71doesn’t fitdoesn’t fit
Closing costs about the same again.
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