Funding you earn now, next payment 22:00 UTC−0.0552%/8h= −60.5% APRnext payment −$0.69 per $10,000 · paid last 24h −0.003%
Price spread now: Phoenix against Coinbase International−0.488%7-day average −0.093% · you buy dearer than you sell
Net, funding: paid 7d − costs−$117as in the Funding arb table
Net, price: spread back to 7d avg − costs−$101as in the Price arb table
costs, in and out, $10k−$610.613% of the position
Funding, last 7 days−0.556%−$56 on $10k
+Price spread, last 3 days (all we have)+0.462%+$46 · spread now −0.488%, 7d avg −0.093%
=Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Phoenix is 0.395% cheaper against Coinbase International than usual: you would sell low and buy high (−$39 if the spread goes back to its 7-day average of −0.093%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International CRV-PERP-INTX | 0.3691 | 0.0376 | pay 0.0047% / 1h | 43m 11s | $391K | $4.8M | 50x |
| Short | Phoenix CRV | 0.3673 | −0.0176 | pay 0.0022% / 1h | 43m 11s | $26K | $181K | 10x |
Coinbase International CRV-PERP-INTX
Phoenix CRVFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Coinbase International. 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
- −$115.95
- Price spread: −0.488% → −0.093%
- −$39.45
- Slippage, 4 orders
- −$44.27
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$216.67
- Costs to cover
- 0.613%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 1 min ago; Phoenix: live order book, 34 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 Coinbase International live order book, 1 min ago | 4.06 bp | 13.1 bp −$13 | 20.7 bp −$207 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 34 min ago | 1.38 bp | 17.1 bp −$17 | 63.7 bp −$637 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit CRV_USDC-PERPETUAL | −0.0292% | 1h | 0.3686 | −0.135% | $57K | $48K | 25x | as long as short |
| Injective CRV/USDC PERP | −0.0228% | 1h | 0.3620 | −1.924% | $78 | $318K | 12x | as long as short |
| Phoenix CRVshort | −0.0176% | 1h | 0.3673 | −0.488% | $26K | $181K | 10x | |
| Reya CRVRUSDPERP | −0.0049% | 1h | 0.3686 | −0.130% | $16 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3688 | −0.078% | $38K | $4K | 10x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0027% | 1h | 0.3691 | +0.004% | $3.1M | $3.2M | 50x | as long as short |
| Orderly PERP_CRV_USDC | +0.0095% | 8h | 0.3687 | −0.108% | $25K | $1K | 10x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3687 | −0.108% | $417K | $700K | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3688 | −0.083% | $132K | $186K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3687 | −0.108% | $379K | $187K | 10x | as long as short |
Deribit CRV_USDC-PERPETUAL
Injective CRV/USDC PERP
Reya CRVRUSDPERP
dYdX CRV-USD
Kraken Futures PF_CRVUSD
Orderly PERP_CRV_USDC
Lighter 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 | 0.3688 | −0.081% | $25.9M | $57.5M | 75x | as long as short |
| Bybit CRVUSDT | +0.0100% | 8h | 0.3689 | −0.054% | $28.0M | $17.2M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3688 | −0.081% | $8.8M | $22.4M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3688 | −0.081% | $2.0M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3687 | −0.108% | $14.8M | $5.5M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3690 | −0.027% | $7.2M | $9.1M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3690 | −0.027% | $7.0M | $5.6M | 75x | as long as short |
| BingX CRV-USDT | +0.0100% | 8h | 0.3687 | −0.108% | — | $21.6M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3673 | −0.484% | $1.1M | $137K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3675 | −0.442% | $38K | $173K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3675 | −0.431% | $512K | $437K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3676 | −0.406% | $61K | $696K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3726 | +0.948% | $1K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3685 | −0.152% | $245K | $883K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3686 | −0.124% | $19K | $9K | 3x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3684 | −0.190% | $1.4M | $4.6M | 75x | as long as short |
| Coinbase International CRV-PERP-INTXlong | +0.0376% | 1h | 0.3691 | long leg | $391K | $4.8M | 50x | |
| GMX CRV/USD [ETH-USDC] | L +0.0404% / S −0.0160% | 1h | 0.3687 | −0.098% | $219K | — | 100x | as long as short |
| Backpack CRV_USDC_PERP | +0.0438% | 1h | 0.3689 | −0.057% | $106K | $361K | 10x | as long as short |
| Hyperliquid CRV | +0.0447% | 1h | 0.3694 | +0.070% | $22.9M | $16.9M | 10x | 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
GMX CRV/USD [ETH-USDC]
Backpack CRV_USDC_PERP
Hyperliquid CRV