Funding you earn now, next payment 21:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.066%
Price spread now: Bybit against Phoenix−0.521%106s7-day average −0.066% · you buy dearer than you sell
Net, funding: paid 7d − costs−$4as 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−$560.556% of the position
Funding, last 7 days+0.518%+$52 on $10k
+Price spread, last 3 days (all we have)−0.421%−$42 · spread now −0.521%, 7d avg −0.066%
=Funding pays, the price is against you. Bybit is 0.454% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.521% now, against its 7-day average of −0.066%). If the spread goes back, that is −$45 on $10k: about 15 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.518% in total) that is about 6.1 days. The two prices were read 106 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 | Phoenix CRV | 0.3631 | 0 | get 0.0000% / 1h | 51m 39s | $26K | $193K | 10x |
| Short | Bybit CRVUSDT | 0.3612 | 0.0100 | get 0.0100% / 8h | 2h 51m | $27.6M | $17.2M | 75x |
Phoenix CRV
Bybit CRVUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Phoenix. 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
- $21
- Price spread: −0.521% → −0.066%
- −$45.43
- Slippage, 4 orders
- −$37.59
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$80.02
- Costs to cover
- 0.556%
- Break-even
- 33.7 days
Slippage from Phoenix: live order book, 31 min ago; Bybit: live order book, 2 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 Phoenix live order book, 31 min ago | 1.37 bp | 15.1 bp −$15 | 64.2 bp −$642 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 1.38 bp | 11.3 bp −$11 | 29.1 bp −$291 | 232.7 bp −$23.3K | 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 | −0.0579% | 1h | 0.3614 | −0.465% | $57K | $48K | 25x | as long as short |
| Injective CRV/USDC PERP | −0.0103% | 1h | 0.3630 | −0.025% | $78 | $265K | 12x | as long as short |
| Reya CRVRUSDPERP | −0.0049% | 1h | 0.3614 | −0.463% | $15 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3615 | −0.449% | $37K | $4K | 10x | as long as short |
| Phoenix CRVlong | 0.0000% | 1h | 0.3631 | long leg | $26K | $193K | 10x | |
| Lighter CRV | +0.0096% | 1h | 0.3612 | −0.515% | $410K | $693K | 10x | as long as short |
| Orderly PERP_CRV_USDC | +0.0096% | 8h | 0.3615 | −0.438% | $24K | $701 | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3612 | −0.521% | $129K | $186K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3614 | −0.461% | $367K | $156K | 10x | as long as short |
| Binance CRVUSDT | +0.0100% | 8h | 0.3609 | −0.592% | $25.3M | $58.4M | 75x | as long as short |
Deribit CRV_USDC-PERPETUAL
Injective CRV/USDC PERP
Reya CRVRUSDPERP
dYdX CRV-USD
Lighter CRV
Orderly PERP_CRV_USDC
Aster CRVUSDT
Pacifica CRV
Binance CRVUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit CRVUSDTshort | +0.0100% | 8h | 0.3612 | −0.521% | $27.6M | $17.2M | 75x | |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3609 | −0.603% | $8.6M | $22.3M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3613 | −0.493% | $1.9M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3610 | −0.576% | $14.3M | $5.6M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3615 | −0.438% | $7.0M | $9.2M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3613 | −0.493% | $6.9M | $5.8M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3611 | −0.548% | — | $1.7M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3633 | +0.071% | $1.1M | $151K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3632 | +0.018% | $38K | $172K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3637 | +0.180% | $513K | $474K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3640 | +0.251% | $60K | $696K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3642 | +0.306% | $2K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3609 | −0.598% | $240K | $885K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3615 | −0.438% | $19K | $9K | 3x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0154% / S +0.0236% | 1h | 0.3616 | −0.412% | $259K | — | 100x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0164% | 1h | 0.3617 | −0.370% | $3.1M | $3.6M | 50x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3619 | −0.328% | $1.4M | $4.7M | 75x | as long as short |
| Hyperliquid CRV | +0.0254% | 1h | 0.3620 | −0.303% | $22.2M | $16.9M | 10x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0384% | 1h | 0.3619 | −0.328% | $382K | $4.8M | 50x | as long as short |
| Backpack CRV_USDC_PERP | +0.0496% | 1h | 0.3618 | −0.355% | $104K | $362K | 10x | as long as short |
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
GMX CRV/USD [ETH-USDC]
Kraken Futures PF_CRVUSD
BloFin CRV-USDT
Hyperliquid CRV
Coinbase International CRV-PERP-INTX
Backpack CRV_USDC_PERP