Funding you earn now, next payment 21:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h +0.065%
Price spread now: Lighter against Phoenix+0.684%7-day average +0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs+$6as in the Funding arb table
Net, price: spread back to 7d avg − costs+$25as in the Price arb table
costs, in and out, $10k−$430.428% of the position
Funding, last 7 days+0.487%+$49 on $10k
+Price spread, last 3 days (all we have)−1.162%−$116 · spread now +0.684%, 7d avg +0.009%
=Together, before fees−0.675%+ Points / potential airdropLighter: Season 3 · farm board−$68 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Lighter is 0.675% dearer against Phoenix than usual: you sell high and buy low: +$67 more if the spread goes back to its 7-day average of +0.009%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix CRV | 0.3640 | 0 | get 0.0000% / 1h | 31m 02s | $26K | $193K | 10x |
| Short | Lighter CRV | 0.3665 | 0.0096 | get 0.0012% / 1h | 31m 02s | $416K | $695K | 10x |
Phoenix CRV
Lighter CRVFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- $20.16
- Price spread: +0.684% → +0.009%
- $67.46
- Slippage, 4 orders
- −$35.75
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $44.87
- Costs to cover
- 0.428%
- Break-even
- from the start
Slippage from Phoenix: live order book, 52 min ago; Lighter: live order book, 53 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, 52 min ago | 1.37 bp | 15.1 bp −$15 | 64.2 bp −$642 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 53 min ago | 2.88 bp | 4.0 bp −$4 | 43.1 bp −$431 | 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 | −0.0296% | 1h | 0.3664 | +0.665% | $57K | $48K | 25x | as long as short |
| Injective CRV/USDC PERP | −0.0103% | 1h | 0.3630 | −0.269% | $78 | $265K | 12x | as long as short |
| Reya CRVRUSDPERP | −0.0049% | 1h | 0.3659 | +0.537% | $16 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3657 | +0.481% | $38K | $4K | 10x | as long as short |
| Phoenix CRVlong | 0.0000% | 1h | 0.3640 | long leg | $26K | $193K | 10x | |
| Orderly PERP_CRV_USDC | +0.0095% | 8h | 0.3664 | +0.665% | $24K | $701 | 10x | as long as short |
| Lighter CRVshort | +0.0096% | 1h | 0.3665 | +0.684% | $416K | $695K | 10x | |
| Aster CRVUSDT | +0.0100% | 8h | 0.3663 | +0.639% | $131K | $186K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3658 | +0.500% | $370K | $166K | 10x | as long as short |
| Binance CRVUSDT | +0.0100% | 8h | 0.3664 | +0.651% | $25.6M | $58.3M | 75x | as long as short |
Deribit CRV_USDC-PERPETUAL
Injective CRV/USDC PERP
Reya CRVRUSDPERP
dYdX CRV-USD
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 CRVUSDT | +0.0100% | 8h | 0.3664 | +0.665% | $27.9M | $17.3M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3663 | +0.637% | $8.7M | $22.6M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3664 | +0.665% | $2.0M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3663 | +0.637% | $14.6M | $5.7M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3666 | +0.720% | $7.1M | $9.2M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3665 | +0.692% | $6.9M | $5.8M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3663 | +0.637% | — | $1.7M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3631 | −0.232% | $1.1M | $151K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3638 | −0.046% | $38K | $172K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3640 | −0.004% | $513K | $462K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3641 | +0.033% | $60K | $695K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3706 | +1.819% | $2K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3662 | +0.619% | $242K | $885K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3664 | +0.662% | $19K | $9K | 3x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0162% | 1h | 0.3667 | +0.748% | $3.1M | $3.5M | 50x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3658 | +0.500% | $1.4M | $4.8M | 75x | as long as short |
| Hyperliquid CRV | +0.0343% | 1h | 0.3671 | +0.849% | $22.6M | $17.0M | 10x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0384% | 1h | 0.3656 | +0.445% | $390K | $4.9M | 50x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0403% / S −0.0160% | 1h | 0.3665 | +0.699% | $217K | — | 100x | as long as short |
| Backpack CRV_USDC_PERP | +0.0502% | 1h | 0.3669 | +0.789% | $105K | $362K | 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
Kraken Futures PF_CRVUSD
BloFin CRV-USDT
Hyperliquid CRV
Coinbase International CRV-PERP-INTX
GMX CRV/USD [ETH-USDC]
Backpack CRV_USDC_PERP