Funding arb · Price arb / RWA

CBRS

RWAAll CBRS markets →

LONGBingX▾edgeX −0.0969%Avantis −0.0090%tradeXYZ −0.0065%Aster 0.0000%SunX 0.0000%HTX 0.0000%Lighter +0.0032%Vest Markets +0.0046%QFEX +0.0050%Polymarket Perps +0.0069%Variational Omni +0.0072%Ondo Perps +0.0073%ApeX Omni +0.0100%Aevo +0.0104%Coinbase International +0.0160%Binance +0.0164%Extended +0.0168%Bybit +0.0187%Bitget +0.0209%BingX +0.0235%GRVT +0.0237%KuCoin +0.0245%OKX +0.0253%BloFin +0.0280%Gate +0.0570%Deribit +0.0755%

⇄⇅

SHORTPhoenix▾Deribit +0.0755%Gate +0.0570%BloFin +0.0280%OKX +0.0253%KuCoin +0.0245%GRVT +0.0237%Bitget +0.0209%Bybit +0.0187%Extended +0.0168%Binance +0.0164%Coinbase International +0.0160%Aevo +0.0104%ApeX Omni +0.0100%Ondo Perps +0.0073%Variational Omni +0.0072%Polymarket Perps +0.0069%QFEX +0.0050%Vest Markets +0.0046%Lighter +0.0032%Aster 0.0000%Phoenix 0.0000%SunX 0.0000%HTX 0.0000%tradeXYZ −0.0065%Avantis +0.0127%edgeX −0.0969%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	BingXNCSKCBRS2USD-USDT	179.59	+0.0235	pay 0.0235% / 8h	2h 28m	$916K	$1.8M	—	Long BingX
SHORT	PhoenixCBRS	179.18	0	0.0000% / 1h	28m 58s	$24K	$173K	10x	Short Phoenix

Price gap−0.228%47s

Funding gap−0.0235% /8h

Both sides work against this direction now: funding costs $7 a day on $10k and the gap is 0.177% under its 7d average. Swap the legs.

The current funding rate is far below what this pair has been paying: over the last 7 days it paid +0.015% in total, about +0.0007%/8h on average.

Price and funding

Entry / ExitPrice spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Entry / Exit?

Price spread?

Prices?

Funding?per 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now−0.228%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

BingXPhoenix

CBRS on 27 exchanges

lowest funding first

Before you open

0 ok · 5 to watch

• !
  Watch: Thin at this size5.3 / 40.2 bp

  At $10k entering Phoenix costs 40.2 bp, fee and slippage, 7.6× BingX’s.
• i
  Note: Margin at max leverage— + $1,000

  BingX —, Phoenix 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• !
  Watch: Payment intervals differ8h / 1h

  Payments land at different times. Close right after the slower leg pays.

  Long BingX · 8h−$7.05

  Short Phoenix · 1h$0.00

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: −$7.05Long BingX: 3 payments, −$7.05; short Phoenix: 24 payments, $0.00.
• !
  Watch: Prices read 47 s apart−0.228% vs −0.051%

  Part of this gap may be the market moving.
• !
  Watch: Short leg is thinner$24K vs $916K OI

  Phoenix sets your exit cost. Check its book before closing.
• i
  Note: No points program—

  Neither exchange runs points right now.
• !
  Watch: KYCBingX Yes · Phoenix No

  Advanced KYC to deposit or trade; unverified accounts can only withdraw, up to 20,000 USDT a day. Rules vary by region.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned+0.0007%/8h × 21 periods+$1.52

Price spreadprices read too far apart to compare—

Slippage, 4 orderslive order books−$77.09

Fee BingX bp × 2 orders−$10.00

Fee Phoenix bp × 2 orders−$7.00

Net · 7 days · $10k−$92.56

price spread not counted: prices read too far apart

Costs to cover0.941%Break-even432.2 days

Slippage: BingX: live order book, 5 min ago; Phoenix: live order book, 2 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGBingX0.285.3 bp−$518.4 bp−$18482.4 bp−$8,239483.6 bp−$241.8K

SELL · SHORTPhoenix10.6040.2 bp−$40102.3 bp−$1,023doesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

CBRS news

posts that mention CBRS, from every exchangeSearch all news →

09-30 16:30	Vest Markets	Other	Cerebras is reportedly not serving OpenAI's newest Ultrafast tier, with $CBRS down over 7% on today's session. Neither Cerebras nor OpenAI has confirmed the SemiAnalysis post, while the August Ultrafast mode for GPT-5.6 Sol ran on Cerebras at up to 750 tokens per second. The IPO lockup also released up to 19.4 million shares today, part of about 171 million in early-release tranches, with $CBRS below its $185 IPO price. @VestExchange on X ↗
09-17 10:29	Deribit	Listing	🚨 More equity and commodity perpetuals are now live on Deribit Equities LITE · SKHY · SOXL · CBRS · SNDK · ARM · BE · NBIS · EWY · MU · DRAM Commodities GOLD · SILVER · BRENTOIL · WTIOIL ↓ @DeribitOfficial on X ↗
09-16 15:02	Deribit	Listing	🚨 More To Trade. Tomorrow, September 17, 2026, at 10:00 AM UTC, 11 more equity perpetual markets and 4 commodity perpetuals will go live on Deribit. All settled in USDC. Equities LITE · SKHY · SOXL · CBRS · SNDK · ARM · BE · NBIS · EWY · MU · DRAM Commodities GOLD · SILVER · BRENTOIL · WTIOIL This launch is part of Deribit’s biggest-ever product expansion: more than 90 new USDC-settled perpetuals across crypto, listed equities and ETFs, commodities, the COIN50 index and private-market valuations. Read more: Disclaimer: Equity & Commodity perpetuals are offered by Deribit FZE under its Limited Licence Approval from VARA, and are subject to the conditions, client eligibility criteria and restrictions of that approval. @DeribitOfficial on X ↗