Funding you earn now, next payment 03:00 UTC−0.0135%/8h= −14.8% APRnext payment −$0.17 per $10,000 · paid last 24h −0.133%
Price spread now: Phoenix against Hyperliquid−0.083%7-day average −0.138% · you buy dearer than you sell
Net, funding: paid 7d − costs−$128as in the Funding arb table
Net, price: spread back to 7d avg − costs−$53as in the Price arb table
costs, in and out, $10k−$580.581% of the position
Funding, last 7 days−0.703%−$70 on $10k
+Price spread, last 4 days (all we have)+0.434%+$43 · spread now −0.083%, 7d avg −0.138%
=Together, before fees−0.268%+ Points / potential airdropHyperliquid: Season 2 · farm board−$27 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phoenix is 0.055% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.083% now, against its 7-day average of −0.138%): +$6 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 33 hours. At the pace of the last 7 days (−0.703% in total) that is about 13 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid CRV | 0.3615 | 0.0135 | pay 0.0017% / 1h | 5m 12s | $21.8M | $14.9M | 10x |
| Short | Phoenix CRV | 0.3612 | 0 | get 0.0000% / 1h | 5m 12s | $26K | $168K | 10x |
Hyperliquid CRV
Phoenix CRVFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Hyperliquid. 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
- −$28.35
- Price spread: −0.083% → −0.138%
- $5.54
- Slippage, 4 orders
- −$42.06
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$80.87
- Costs to cover
- 0.581%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 8 min ago; Phoenix: live order book, 46 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 Hyperliquid live order book, 8 min ago | 1.37 bp | 14.1 bp −$14 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 46 min ago | 1.39 bp | 16.9 bp −$17 | 63.4 bp −$634 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya CRVRUSDPERP | −0.0048% | 1h | 0.3608 | −0.193% | $15 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3619 | +0.118% | $37K | $8K | 10x | as long as short |
| Phoenix CRVshort | 0.0000% | 1h | 0.3612 | −0.083% | $26K | $168K | 10x | |
| Deribit CRV_USDC-PERPETUAL | 0.0000% | 1h | 0.3609 | −0.163% | $55K | $47K | 25x | as long as short |
| Injective CRV/USDC PERP | +0.0033% | 1h | 0.3670 | +1.524% | $79 | $384K | 12x | as long as short |
| Backpack CRV_USDC_PERP | +0.0056% | 1h | 0.3612 | −0.091% | $96K | $299K | 10x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3609 | −0.155% | $381K | $711K | 10x | as long as short |
| Orderly PERP_CRV_USDC | +0.0099% | 8h | 0.3609 | −0.163% | $24K | $902 | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3610 | −0.131% | $129K | $180K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3617 | +0.069% | $367K | $198K | 10x | as long as short |
Reya CRVRUSDPERP
dYdX CRV-USD
Deribit CRV_USDC-PERPETUAL
Injective CRV/USDC PERP
Backpack CRV_USDC_PERP
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 | 0.3610 | −0.130% | $24.8M | $54.5M | 75x | as long as short |
| Bybit CRVUSDT | +0.0100% | 8h | 0.3607 | −0.219% | $27.3M | $17.7M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3609 | −0.163% | $8.7M | $20.3M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3609 | −0.163% | $1.9M | $1.4M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3608 | −0.191% | $13.6M | $5.6M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3610 | −0.136% | $6.1M | $8.6M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3610 | −0.136% | $6.7M | $5.2M | 75x | as long as short |
| BingX CRV-USDT | +0.0100% | 8h | 0.3610 | −0.136% | — | $23.5M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3616 | +0.027% | $1.1M | $101K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3621 | +0.177% | $37K | $173K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3627 | +0.328% | $506K | $441K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3621 | +0.169% | $52K | $684K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3678 | +1.746% | $1K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3608 | −0.178% | $237K | $473K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3610 | −0.124% | $13K | $6K | 3x | as long as short |
| Hyperliquid CRVlong | +0.0135% | 1h | 0.3615 | long leg | $21.8M | $14.9M | 10x | |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3610 | −0.136% | $1.4M | $4.0M | 75x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0384% | 1h | 0.3611 | −0.108% | $377K | $4.0M | 50x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0416% / S −0.0177% | 1h | 0.3609 | −0.159% | $211K | — | 100x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0701% | 1h | 0.3612 | −0.074% | $3.1M | $2.6M | 50x | 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
GMX CRV/USD [ETH-USDC]
Kraken Futures PF_CRVUSD