Funding you earn now, next payment 23:00 UTC−0.0262%/8h= −28.7% APRnext payment −$0.33 per $10,000 · paid last 24h −0.107%
Price spread now: Phoenix against Kraken Futures−0.163%71s7-day average −0.105% · you buy dearer than you sell
Net, funding: paid 7d − costs−$141as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$730.732% of the position
Funding, last 7 days−0.680%−$68 on $10k
+Price spread, last 3 days (all we have)−0.053%−$5 · spread now −0.163%, 7d avg −0.105%
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Phoenix is 0.058% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.105%). Swap the legs. The two prices were read 71 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 | Kraken Futures PF_CRVUSD | 0.3722 | 0.0154 | pay 0.0019% / 1h | 48m 05s | $3.2M | $2.9M | 50x |
| Short | Phoenix CRV | 0.3716 | −0.0108 | pay 0.0014% / 1h | 48m 05s | $26K | $176K | 10x |
Kraken Futures PF_CRVUSD
Phoenix CRVFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Kraken Futures. 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
- −$55.05
- Price spread: −0.163% → −0.105%
- −$5.81
- Slippage, 4 orders
- −$56.21
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$134.07
- Costs to cover
- 0.732%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 1 min ago; Phoenix: live order book, 23 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 Kraken Futures live order book, 1 min ago | 9.41 bp | 21.8 bp −$22 | 51.7 bp −$517 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 23 min ago | 1.09 bp | 14.0 bp −$14 | 49.3 bp −$493 | 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 | −0.0288% | 1h | 0.3718 | −0.115% | $58K | $49K | 25x | as long as short |
| Injective CRV/USDC PERP | −0.0146% | 1h | 0.3670 | −1.405% | $79 | $384K | 12x | as long as short |
| Phoenix CRVshort | −0.0108% | 1h | 0.3716 | −0.163% | $26K | $176K | 10x | |
| Reya CRVRUSDPERP | −0.0049% | 1h | 0.3720 | −0.075% | $16 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3722 | −0.015% | $38K | $5K | 10x | as long as short |
| Orderly PERP_CRV_USDC | +0.0096% | 8h | 0.3719 | −0.088% | $25K | $929 | 10x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3718 | −0.121% | $420K | $719K | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3721 | −0.041% | $133K | $186K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3723 | +0.009% | $379K | $203K | 10x | as long as short |
| Binance CRVUSDT | +0.0100% | 8h | 0.3716 | −0.181% | $26.1M | $56.4M | 75x | as long as short |
Deribit CRV_USDC-PERPETUAL
Injective CRV/USDC PERP
Reya CRVRUSDPERP
dYdX CRV-USD
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 | 0.3717 | −0.142% | $28.5M | $17.1M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3717 | −0.142% | $8.9M | $21.8M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3720 | −0.061% | $2.0M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3717 | −0.142% | $14.7M | $5.2M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3722 | −0.008% | $7.6M | $9.1M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3719 | −0.088% | $7.0M | $5.7M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3718 | −0.115% | — | $1.7M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3701 | −0.571% | $1.1M | $124K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3700 | −0.610% | $38K | $173K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3700 | −0.598% | $523K | $428K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3703 | −0.518% | $61K | $697K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3732 | +0.261% | $1K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3716 | −0.173% | $248K | $883K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3719 | −0.096% | $19K | $9K | 3x | as long as short |
| Kraken Futures PF_CRVUSDlong | +0.0154% | 1h | 0.3722 | long leg | $3.2M | $2.9M | 50x | |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3722 | −0.008% | $1.4M | $4.3M | 75x | as long as short |
| Hyperliquid CRV | +0.0346% | 1h | 0.3724 | +0.035% | $23.2M | $16.4M | 10x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0384% | 1h | 0.3725 | +0.073% | $392K | $4.8M | 50x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0454% / S −0.0193% | 1h | 0.3720 | −0.064% | $241K | — | 100x | as long as short |
| Backpack CRV_USDC_PERP | +0.0715% | 1h | 0.3721 | −0.035% | $109K | $313K | 10x | as long as short |
Bybit 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