Funding you earn now, next payment 00:00 UTC−0.0187%/8h= −20.5% APRpaid last 24h −0.068%
Price spread now: Phoenix against Bybit−0.256%7-day average +0.065% · you buy dearer than you sell
Net, funding: paid 7d − costs−$104as in the Funding arb table
Net, price: spread back to 7d avg − costs−$84as in the Price arb table
costs, in and out, $10k−$520.524% of the position
Funding, last 7 days−0.511%−$51 on $10k
+Price spread, last 3 days (all we have)+0.515%+$52 · spread now −0.256%, 7d avg +0.065%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Phoenix is 0.321% cheaper against Bybit than usual: you would sell low and buy high (−$32 if the spread goes back to its 7-day average of +0.065%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit CRVUSDT | 0.3677 | 0.0100 | pay 0.0100% / 8h | 7h 15m | $28.1M | $17.5M | 75x |
| Short | Phoenix CRV | 0.3668 | −0.0087 | pay 0.0011% / 1h | 15m 03s | $26K | $168K | 10x |
Bybit CRVUSDT
Phoenix CRVFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bybit. 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
- −$39.26
- Price spread: −0.256% → +0.065%
- −$32.1
- Slippage, 4 orders
- −$34.4
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$123.76
- Costs to cover
- 0.524%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 4 min ago; Phoenix: live order book, 51 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 Bybit live order book, 4 min ago | 1.37 bp | 12.5 bp −$13 | 26.0 bp −$260 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 51 min ago | 1.09 bp | 13.1 bp −$13 | 45.8 bp −$458 | 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 | −0.0087% | 1h | 0.3668 | −0.256% | $26K | $168K | 10x | |
| Reya CRVRUSDPERP | −0.0048% | 1h | 0.3677 | −0.002% | $16 | — | 15x | as long as short |
| Deribit CRV_USDC-PERPETUAL | −0.0022% | 1h | 0.3677 | 0.000% | $57K | $50K | 25x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3675 | −0.043% | $38K | $5K | 10x | as long as short |
| Injective CRV/USDC PERP | +0.0033% | 1h | 0.3670 | −0.190% | $79 | $384K | 12x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0088% | 1h | 0.3683 | +0.174% | $3.1M | $2.8M | 50x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3679 | +0.057% | $411K | $727K | 10x | as long as short |
| Orderly PERP_CRV_USDC | +0.0096% | 8h | 0.3679 | +0.054% | $25K | $929 | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3679 | +0.054% | $131K | $182K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3675 | −0.054% | $374K | $211K | 10x | as long as short |
Reya CRVRUSDPERP
Deribit CRV_USDC-PERPETUAL
dYdX CRV-USD
Injective CRV/USDC PERP
Kraken Futures PF_CRVUSD
Lighter CRV
Orderly PERP_CRV_USDC
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 | 0.3679 | +0.054% | $25.7M | $55.8M | 75x | as long as short |
| Bybit CRVUSDTlong | +0.0100% | 8h | 0.3677 | long leg | $28.1M | $17.5M | 75x | |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3677 | 0.000% | $8.8M | $21.5M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3680 | +0.082% | $1.9M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3678 | +0.027% | $15.2M | $5.2M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3679 | +0.054% | $6.6M | $9.2M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3681 | +0.109% | $7.0M | $5.6M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3678 | +0.027% | — | $1.7M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3674 | −0.083% | $1.1M | $114K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3668 | −0.250% | $38K | $173K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3669 | −0.211% | $518K | $417K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3671 | −0.163% | $53K | $698K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3716 | +1.061% | $2K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3677 | +0.005% | $244K | $888K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3678 | +0.027% | $13K | $6K | 3x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3674 | −0.082% | $1.4M | $4.3M | 75x | as long as short |
| Hyperliquid CRV | +0.0313% | 1h | 0.3684 | +0.190% | $22.9M | $16.5M | 10x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0384% | 1h | 0.3679 | +0.054% | $390K | $4.7M | 50x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0417% / S −0.0174% | 1h | 0.3678 | +0.033% | $219K | — | 100x | as long as short |
| Backpack CRV_USDC_PERP | +0.0556% | 1h | 0.3681 | +0.114% | $99K | $295K | 10x | as long as short |
Binance CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDC
Variational Omni CRV
edgeX CRVUSDC
GRVT CRV_USDT_Perp
ApeX Omni CRVUSDT
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
BloFin CRV-USDT
Hyperliquid CRV
Coinbase International CRV-PERP-INTX
GMX CRV/USD [ETH-USDC]
Backpack CRV_USDC_PERP