Funding you earn now, next payment 22:00 UTC−0.0627%/8h= −68.7% APRnext payment −$0.78 per $10,000 · paid last 24h −0.173%
Price spread now: Phoenix against GMX−0.236%65s7-day average −0.057% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.649%−$65 on $10k
+Price spread, last 3 days (all we have)+0.156%+$16 · spread now −0.236%, 7d avg −0.057%
=Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Phoenix is 0.178% cheaper against GMX than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.057%). Swap the legs. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX CRV/USD [ETH-USDC] | 0.3702 | L +0.0451% / S −0.0191% | pay 0.0056% / 1h | 54m 07s | $240K | — | 100x |
| Short | Phoenix CRV | 0.3694 | −0.0176 | pay 0.0022% / 1h | 54m 07s | $26K | $176K | 10x |
GMX CRV/USD [ETH-USDC]
Phoenix CRVFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against GMX. 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
- −$131.71
- Price spread: −0.236% → −0.057%
- −$17.84
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$168.54
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Phoenix: live order book, 17 min ago. Net counts fees only.
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 GMX no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 17 min ago | 1.09 bp | 14.0 bp −$14 | 49.3 bp −$493 | doesn't fit | doesn't fit |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0176% | 1h | 0.3694 | −0.236% | $26K | $176K | 10x | |
| Injective CRV/USDC PERP | −0.0146% | 1h | 0.3670 | −0.876% | $79 | $384K | 12x | as long as short |
| Reya CRVRUSDPERP | −0.0049% | 1h | 0.3701 | −0.051% | $16 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3698 | −0.113% | $38K | $5K | 10x | as long as short |
| Deribit CRV_USDC-PERPETUAL | 0.0000% | 1h | 0.3703 | +0.016% | $57K | $49K | 25x | as long as short |
| Orderly PERP_CRV_USDC | +0.0096% | 8h | 0.3703 | +0.016% | $25K | $929 | 10x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3704 | +0.029% | $418K | $718K | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3703 | +0.027% | $132K | $186K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3698 | −0.127% | $376K | $216K | 10x | as long as short |
| Binance CRVUSDT | +0.0100% | 8h | 0.3700 | −0.071% | $26.1M | $56.4M | 75x | as long as short |
Injective CRV/USDC PERP
Reya CRVRUSDPERP
dYdX CRV-USD
Deribit CRV_USDC-PERPETUAL
Orderly PERP_CRV_USDC
Lighter CRV
Aster CRVUSDT
Pacifica CRV
Binance CRVUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit CRVUSDT | +0.0100% | 8h | 0.3699 | −0.092% | $28.3M | $17.1M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3696 | −0.173% | $8.9M | $21.8M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3704 | +0.043% | $2.0M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3702 | −0.011% | $14.9M | $5.2M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3706 | +0.097% | $7.3M | $9.0M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3706 | +0.097% | $7.0M | $5.7M | 75x | as long as short |
| BingX CRV-USDT | +0.0100% | 8h | 0.3703 | +0.016% | — | $21.6M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3689 | −0.362% | $1.1M | $124K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3690 | −0.345% | $38K | $172K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3691 | −0.309% | $522K | $428K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3689 | −0.362% | $61K | $698K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3718 | +0.421% | $1K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3703 | +0.011% | $244K | $879K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3705 | +0.056% | $19K | $9K | 3x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0154% | 1h | 0.3710 | +0.200% | $3.1M | $2.9M | 50x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3693 | −0.254% | $1.4M | $4.3M | 75x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0384% | 1h | 0.3705 | +0.070% | $386K | $4.8M | 50x | as long as short |
| Hyperliquid CRV | +0.0389% | 1h | 0.3705 | +0.083% | $23.0M | $16.3M | 10x | as long as short |
| GMX CRV/USD [ETH-USDC]long | L +0.0451% / S −0.0191% | 1h | 0.3702 | long leg | $240K | — | 100x | |
| Backpack CRV_USDC_PERP | +0.0732% | 1h | 0.3703 | +0.021% | $108K | $316K | 10x | as long as short |
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
Kraken Futures PF_CRVUSD
BloFin CRV-USDT
Coinbase International CRV-PERP-INTX
Hyperliquid CRV
Backpack CRV_USDC_PERP