Funding you earn now, next payment 05:00 UTC+0.0686%/8h= +75.1% APRpaid last 24h +0.001%
Price spread now: Phoenix against Bitget−0.247%79s7-day average −0.060% · you buy dearer than you sell
Net, funding: paid 7d − costs−$177as 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−$1651.655% of the position
Funding, last 7 days−0.110%−$11 on $10k
+Price spread, last 4 days (all we have)+0.319%+$32 · spread now −0.247%, 7d avg −0.060%
=Funding pays, the price is against you. Phoenix is 0.188% cheaper against Bitget than usual: you would sell low and buy high (spread −0.247% now, against its 7-day average of −0.060%). If the spread goes back, that is −$19 on $10k: about 22 hours of funding at the current rate (+$21 a day). Mind the row above: over the last 7 days funding on this pair cost −0.110%, so the current rate has only just turned in your favour. The two prices were read 79 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 -0.110% in total (about -5.8% 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 | Bitget CBRSUSDT | 206.33 | −0.0686 | get 0.0686% / 8h | 2h 18m | $2.4M | $2.4M | 20x |
| Short | Phoenix CBRS | 205.82 | 0 | get 0.0000% / 1h | 18m 07s | $1K | $108K | 10x |
Bitget CBRSUSDT
Phoenix CBRSFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bitget. 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
- $144.06
- Price spread: −0.247% → −0.060%
- −$18.76
- Slippage, 4 orders
- −$146.48
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$40.17
- Costs to cover
- 1.655%
- Break-even
- 9.0 days
Slippage from Bitget: live order book, 4 min ago; Phoenix: live order book, 22 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 Bitget live order book, 4 min ago | 3.16 bp | 17.6 bp −$18 | 19.8 bp −$198 | 72.2 bp −$7,218 | doesn't fit |
| Sell Phoenix live order book, 22 min ago | 14.10 bp | 58.7 bp −$59 | 187.9 bp −$1,879 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget CBRSUSDTlong | −0.0686% | 8h | 206.33 | long leg | $2.4M | $2.4M | 20x | |
| edgeX CBRSUSDC | −0.0336% | 4h | 205.77 | −0.273% | $23K | $220K | 10x | as long as short |
| tradeXYZ xyz:CBRS | −0.0196% | 1h | 205.88 | −0.218% | $42.1M | $3.9M | 10x | as long as short |
| Aster CBRSUSDT | 0.0000% | 8h | 206.45 | +0.057% | $65K | $147K | 20x | as long as short |
| OKX CBRS-USDT-SWAP | 0.0000% | 8h | 206.29 | −0.019% | $2.2M | $3.5M | 25x | as long as short |
| Phoenix CBRSshort | 0.0000% | 1h | 205.82 | −0.247% | $1K | $108K | 10x | |
| SunX CBRS-USDT | 0.0000% | 8h | 206.44 | +0.053% | $1K | $2.9M | 10x | as long as short |
| HTX CBRS-USDT | 0.0000% | 8h | 205.88 | −0.218% | $9K | $10K | 20x | as long as short |
| Vest CBRS-USD-PERP | +0.0015% | 1h | 205.80 | −0.257% | — | $107K | 10x | as long as short |
| QFEX CBRS-USD | +0.0024% | 1h | 206.26 | −0.034% | $1.1M | $3.1M | 10x | as long as short |
edgeX CBRSUSDC
tradeXYZ xyz:CBRS
Aster CBRSUSDT
OKX CBRS-USDT-SWAP
SunX CBRS-USDT
HTX 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 | 206.06 | −0.131% | $90K | $881K | 10x | as long as short |
| Polymarket Perps CBRS-USD | +0.0050% | 1h | 206.04 | −0.141% | $51K | $1.1M | 10x | as long as short |
| Variational Omni CBRS | +0.0078% | 8h | 205.81 | −0.253% | $400K | $84K | — | as long as short |
| KuCoin CBRSUSDTM | +0.0100% | 8h | 206.14 | −0.092% | $115K | $111K | 20x | as long as short |
| ApeX Omni CBRSUSDT | +0.0100% | 1h | 205.20 | −0.548% | $24K | $139K | 50x | as long as short |
| Orderly PERP_CBRS_USDC_mythos | +0.0100% | 8h | 206.31 | −0.010% | $816 | $1K | 10x | as long as short |
| Aevo CBRS-PERP | +0.0104% | 1h | 206.32 | −0.002% | $239 | — | 10x | as long as short |
| BloFin CBRS-USDT | +0.0133% | 8h | 205.83 | −0.242% | $147K | $70K | 20x | as long as short |
| Binance CBRSUSDT | +0.0142% | 8h | 206.19 | −0.068% | $10.1M | $30.3M | 25x | as long as short |
| Extended CBRS_24_5-USD | +0.0144% | 1h | 206.22 | −0.052% | $44K | $389K | 10x | as long as short |
| GRVT CBRS_USDT_Perp | +0.0164% | 8h | 205.47 | −0.417% | $544 | $212K | 10x | as long as short |
| Ondo Perps CBRS-USD.P | +0.0176% | 1h | 206.12 | −0.102% | $334K | $716K | 10x | as long as short |
| Bybit CBRSUSDT | +0.0298% | 8h | 206.33 | 0.000% | $2.1M | $2.0M | 25x | as long as short |
| Gate CBRS_USDT | +0.0338% | 8h | 206.30 | −0.015% | $2.8M | $3.0M | 50x | as long as short |
| Coinbase International CBRS-PERP-INTX | +0.0464% | 1h | 210.27 | +1.910% | $115K | $116K | 10x | as long as short |
| Deribit CBRS_USDC-PERPETUAL | +0.0478% | 1h | 206.23 | −0.048% | $12K | $5K | 10x | as long as short |
Lighter CBRS
Polymarket Perps CBRS-USD
Variational Omni CBRS
KuCoin CBRSUSDTM
ApeX Omni CBRSUSDT
Orderly PERP_CBRS_USDC_mythos
Aevo CBRS-PERP
BloFin CBRS-USDT
Binance CBRSUSDT
Extended CBRS_24_5-USD
GRVT CBRS_USDT_Perp
Ondo Perps CBRS-USD.P
Bybit CBRSUSDT
Gate CBRS_USDT
Coinbase International CBRS-PERP-INTX
Deribit CBRS_USDC-PERPETUAL