Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 349.93 | +0.0183 | pay 0.0023% / 1h | 44m 42s | $1.1M | $447K | 20x | Long Phoenix | |
| SHORT | 350.66 | +0.0338 | get 0.0338% / 8h | 3h 44m | $16.0M | $10.5M | 100x | Short MEXC |
Price gap+0.209%47s
Funding gap+0.0155% /8h
Both sides work: funding pays +$5 a day on $10k, and the gap is 0.216% above its 7d average: +$22 more if it goes back.
Funding on this pair cost 0.370% over the last 7 days: the rate has only just turned. The two prices were read 47 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+0.0155% /8h now · paid −0.370% over the last 7D
Price—spread +0.209%47s now · prices read too far apart to compare
Costs−$210.212% 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+0.209%
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
/8hTSLA on 39 exchanges
lowest funding firstBefore you open
1 ok · 4 to watch- OK: Fits both order books10.5 / 0.1 bpEntry at $10k a leg, taker fee + slippage. Closing costs about the same.
- Note: Margin at max leverage$500 + $100Phoenix 20x, MEXC 100x. 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: +$4.66Long Phoenix: 24 payments, −$5.48; short MEXC: 3 payments, +$10.14.
- Watch: Prices read 47 s apart+0.209% vs −0.007%Part of this gap may be the market moving.
- Watch: Long leg is thinner$1.1M vs $16.0M OIPhoenix sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCPhoenix No · MEXC YesKYC before trading since Feb 2026; unverified accounts see market data only.
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−$14.22
Fee Phoenix bp × 2 orders−$7.00
Fee MEXC bp × 2 orders$0.00
Net · 7 days · $10k−$58.20
price spread not counted: prices read too far apartCosts to cover0.212%Break-evennever at this rate
Slippage: Phoenix: live order book, 2 min ago; MEXC: live order book, 3 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhoenix3.1410.5 bp−$1021.5 bp−$215doesn’t fitdoesn’t fit
SELL · SHORTMEXC0.140.1 bp$00.1 bp−$11.7 bp−$170190.9 bp−$95.5K
Closing costs about the same again.
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