Funding you earn now, next payment 00:00 UTC−0.0404%/8h= −44.2% APRpaid last 24h −0.079%
Price spread now: Phoenix against Binance−0.100%85s7-day average −0.068% · you buy dearer than you sell
Net, funding: paid 7d − costs−$134as 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−$1111.110% of the position
Funding, last 7 days−0.228%−$23 on $10k
+Price spread, last 2 days (all we have)−0.006%−$1 · spread now −0.100%, 7d avg −0.068%
=Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Phoenix is 0.032% cheaper against Binance than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.068%). Swap the legs. The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.228% in total (about -11.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance CBRSUSDT | 210.00 | 0.0442 | pay 0.0442% / 8h | 7h 08m | $10.3M | $29.7M | 25x |
| Short | Phoenix CBRS | 209.79 | 0.0038 | get 0.0005% / 1h | 8m 01s | $1K | $111K | 10x |
Binance CBRSUSDT
Phoenix CBRSFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Binance. 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
- −$84.75
- Price spread: −0.100% → −0.068%
- −$3.17
- Slippage, 4 orders
- −$94.04
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$198.95
- Costs to cover
- 1.110%
- Break-even
- never at this rate
Slippage from Binance: live order book, 3 min ago; Phoenix: live order book, 57 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 Binance live order book, 3 min ago | 1.19 bp | 12.6 bp −$13 | 28.1 bp −$281 | 149.6 bp −$15.0K | doesn't fit |
| Sell Phoenix live order book, 57 min ago | 11.46 bp | 45.4 bp −$45 | 116.2 bp −$1,162 | doesn't fit | doesn't fit |
CBRS on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster CBRSUSDT | 0.0000% | 8h | 209.96 | −0.020% | $66K | $147K | 20x | as long as short |
| OKX CBRS-USDT-SWAP | 0.0000% | 8h | 210.05 | +0.024% | $2.2M | $3.6M | 25x | as long as short |
| Bitget CBRSUSDT | 0.0000% | 8h | 210.05 | +0.024% | $2.4M | $2.8M | 20x | as long as short |
| GRVT CBRS_USDT_Perp | 0.0000% | 8h | 210.19 | +0.092% | $1K | $211K | 10x | as long as short |
| SunX CBRS-USDT | 0.0000% | 8h | 210.49 | +0.233% | $1K | $3.2M | 10x | as long as short |
| HTX CBRS-USDT | 0.0000% | 8h | 210.13 | +0.062% | $9K | $9K | 20x | as long as short |
| Coinbase International CBRS-PERP-INTX | +0.0024% | 1h | 208.44 | −0.743% | $114K | $114K | 10x | as long as short |
| Gate CBRS_USDT | +0.0028% | 8h | 210.10 | +0.048% | $2.9M | $3.0M | 50x | as long as short |
| Vest CBRS-USD-PERP | +0.0030% | 1h | 209.62 | −0.181% | — | $98K | 10x | as long as short |
| QFEX CBRS-USD | +0.0031% | 1h | 209.98 | −0.010% | $1.1M | $3.4M | 10x | as long as short |
Aster CBRSUSDT
OKX CBRS-USDT-SWAP
Bitget CBRSUSDT
GRVT CBRS_USDT_Perp
SunX CBRS-USDT
HTX CBRS-USDT
Coinbase International CBRS-PERP-INTX
Gate CBRS_USDT
Vest CBRS-USD-PERP
QFEX CBRS-USDShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter CBRS | +0.0032% | 1h | 209.81 | −0.090% | $91K | $868K | 10x | as long as short |
| Phoenix CBRSshort | +0.0038% | 1h | 209.79 | −0.100% | $1K | $111K | 10x | |
| tradeXYZ xyz:CBRS | +0.0050% | 1h | 209.80 | −0.095% | $42.9M | $3.6M | 10x | as long as short |
| Polymarket Perps CBRS-USD | +0.0050% | 1h | 209.86 | −0.067% | $53K | $1.1M | 10x | as long as short |
| Ondo Perps CBRS-USD.P | +0.0050% | 1h | 210.01 | +0.005% | $343K | $924K | 10x | as long as short |
| KuCoin CBRSUSDTM | +0.0100% | 8h | 209.96 | −0.019% | $114K | $122K | 20x | as long as short |
| ApeX Omni CBRSUSDT | +0.0100% | 1h | 210.05 | +0.024% | $25K | $137K | 50x | as long as short |
| Orderly PERP_CBRS_USDC_mythos | +0.0100% | 8h | 210.06 | +0.029% | $863 | $1K | 10x | as long as short |
| Aevo CBRS-PERP | +0.0104% | 1h | 210.07 | +0.036% | $244 | — | 10x | as long as short |
| Bybit CBRSUSDT | +0.0135% | 8h | 210.23 | +0.110% | $2.0M | $1.9M | 25x | as long as short |
| edgeX CBRSUSDC | +0.0221% | 4h | 210.08 | +0.038% | $24K | $220K | 10x | as long as short |
| Variational Omni CBRS | +0.0398% | 8h | 210.05 | +0.024% | $424K | $321K | — | as long as short |
| Extended CBRS_24_5-USD | +0.0440% | 1h | 209.95 | −0.023% | $46K | $270K | 10x | as long as short |
| Binance CBRSUSDTlong | +0.0442% | 8h | 210.00 | long leg | $10.3M | $29.7M | 25x | |
| BloFin CBRS-USDT | +0.0445% | 8h | 210.21 | +0.100% | $147K | $71K | 20x | as long as short |
| Deribit CBRS_USDC-PERPETUAL | +0.1610% | 1h | 210.04 | +0.019% | $12K | $5K | 10x | as long as short |
Lighter CBRS
tradeXYZ xyz:CBRS
Polymarket Perps CBRS-USD
Ondo Perps CBRS-USD.P
KuCoin CBRSUSDTM
ApeX Omni CBRSUSDT
Orderly PERP_CBRS_USDC_mythos
Aevo CBRS-PERP
Bybit CBRSUSDT
edgeX CBRSUSDC
Variational Omni CBRS
Extended CBRS_24_5-USD
BloFin CBRS-USDT
Deribit CBRS_USDC-PERPETUAL