Funding you earn now, next payment 02:00 UTC−0.0165%/8h= −18.1% APRnext payment −$0.21 per $10,000 · paid last 24h −0.123%
Price spread now: Phoenix against Backpack−0.049%7-day average −0.049% · you buy dearer than you sell
Net, funding: paid 7d − costs−$108as in the Funding arb table
Net, price: spread back to 7d avg − costs−$45as in the Price arb table
costs, in and out, $10k−$450.446% of the position
Funding, last 7 days−0.634%−$63 on $10k
+Price spread, last 4 days (all we have)+0.860%+$86 · spread now −0.049%, 7d avg −0.049%
=The price spread sits at its 7-day average of −0.049%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack CRV_USDC_PERP | 0.3650 | 0.0100 | pay 0.0013% / 1h | 44m 20s | $100K | $296K | 10x |
| Short | Phoenix CRV | 0.3648 | −0.0065 | pay 0.0008% / 1h | 44m 20s | $26K | $168K | 10x |
Backpack CRV_USDC_PERP
Phoenix CRVFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$34.72
- Price spread: −0.049% → −0.049%
- −$0.03
- Slippage, 4 orders
- −$27.59
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$79.35
- Costs to cover
- 0.446%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 19 min ago; Phoenix: live order book, 12 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Backpack live order book, 19 min ago | 0.14 bp | 12.2 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 12 min ago | 1.09 bp | 12.7 bp −$13 | 44.0 bp −$440 | doesn't fit | doesn't fit |
CRV on 30 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix CRVshort | −0.0065% | 1h | 0.3648 | −0.049% | $26K | $168K | 10x | |
| Reya CRVRUSDPERP | −0.0048% | 1h | 0.3644 | −0.159% | $16 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3648 | −0.052% | $38K | $7K | 10x | as long as short |
| Deribit CRV_USDC-PERPETUAL | 0.0000% | 1h | 0.3648 | −0.060% | $56K | $49K | 25x | as long as short |
| Injective CRV/USDC PERP | +0.0033% | 1h | 0.3670 | +0.542% | $79 | $384K | 12x | as long as short |
| Orderly PERP_CRV_USDC | +0.0095% | 8h | 0.3646 | −0.115% | $24K | $902 | 10x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3647 | −0.088% | $384K | $704K | 10x | as long as short |
| Hyperliquid CRV | +0.0100% | 1h | 0.3651 | +0.014% | $22.1M | $15.1M | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3650 | +0.006% | $130K | $180K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3647 | −0.082% | $370K | $198K | 10x | as long as short |
Reya CRVRUSDPERP
dYdX CRV-USD
Deribit CRV_USDC-PERPETUAL
Injective CRV/USDC PERP
Orderly PERP_CRV_USDC
Lighter CRV
Hyperliquid CRV
Aster CRVUSDT
Pacifica CRVShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CRVUSDT | +0.0100% | 8h | 0.3645 | −0.134% | $25.2M | $54.2M | 75x | as long as short |
| Bybit CRVUSDT | +0.0100% | 8h | 0.3647 | −0.088% | $27.7M | $17.6M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3643 | −0.197% | $8.8M | $20.4M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3649 | −0.033% | $1.9M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3646 | −0.115% | $14.6M | $5.3M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3650 | −0.005% | $6.3M | $8.9M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3649 | −0.033% | $6.8M | $5.2M | 75x | as long as short |
| BingX CRV-USDT | +0.0100% | 8h | 0.3647 | −0.088% | — | $23.6M | — | as long as short |
| Backpack CRV_USDC_PERPlong | +0.0100% | 1h | 0.3650 | long leg | $100K | $296K | 10x | |
| Variational Omni CRV | +0.0100% | 8h | 0.3651 | +0.032% | $1.1M | $101K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3642 | −0.232% | $38K | $173K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3643 | −0.199% | $514K | $429K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3651 | +0.022% | $53K | $687K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3689 | +1.063% | $2K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3649 | −0.024% | $242K | $475K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3649 | −0.041% | $13K | $6K | 3x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3648 | −0.060% | — | $3.9M | 75x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0344% | 1h | 0.3647 | −0.088% | $381K | $4.1M | 50x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0372% | 1h | 0.3653 | +0.078% | $3.1M | $2.6M | 50x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0435% / S −0.0189% | 1h | 0.3644 | −0.177% | $221K | — | 100x | as long as short |
Binance CRVUSDT
Bybit CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDT
Variational Omni CRV
edgeX CRVUSDC
GRVT CRV_USDT_Perp
ApeX Omni CRVUSDT
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
BloFin CRV-USDT
Coinbase International CRV-PERP-INTX
Kraken Futures PF_CRVUSD
GMX CRV/USD [ETH-USDC]