Funding you earn now, next payment 02:00 UTC+0.0289%/8h= +31.6% APRpaid last 24h +0.069%
Price spread now: Phoenix against Binance−0.047%55s7-day average +0.097% · you buy dearer than you sell
Net, funding: paid 7d − costs−$40as 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−$620.621% of the position
Funding, last 7 days+0.224%+$22 on $10k
+Price spread, last 4 days (all we have)+0.331%+$33 · spread now −0.047%, 7d avg +0.097%
=Funding pays, the price is against you. Phoenix is 0.144% cheaper against Binance than usual: you would sell low and buy high (spread −0.047% now, against its 7-day average of +0.097%). If the spread goes back, that is −$14 on $10k: about 40 hours of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.224% in total) that is about 4.5 days. The two prices were read 55 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 | Binance CRWDUSDT | 249.29 | 0 | get 0.0000% / 8h | 5h 08m | $2.4M | $6.7M | 25x |
| Short | Phoenix CRWD | 249.17 | 0.0289 | get 0.0036% / 1h | 8m 34s | $4 | $106K | 10x |
Binance CRWDUSDT
Phoenix CRWDFunding 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
- $60.7
- Price spread: −0.047% → +0.097%
- −$14.41
- Slippage, 4 orders
- −$45.08
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$15.8
- Costs to cover
- 0.621%
- Break-even
- 8.8 days
Slippage from Binance: live order book, 15 min ago; Phoenix: live order book, 46 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, 15 min ago | 2.41 bp | 16.9 bp −$17 | 41.4 bp −$414 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 46 min ago | 2.41 bp | 17.3 bp −$17 | 52.6 bp −$526 | doesn't fit | doesn't fit |
CRWD on 18 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective CRWD/USDC PERP | −0.0220% | 1h | 240.64 | −3.469% | $21K | $20K | 12x | as long as short |
| BloFin CRWD-USDT | −0.0008% | 8h | 249.35 | +0.025% | $73K | $24K | 25x | as long as short |
| Aster CRWDUSDT | 0.0000% | 8h | 249.14 | −0.060% | $4K | $37K | 20x | as long as short |
| Binance CRWDUSDTlong | 0.0000% | 8h | 249.29 | long leg | $2.4M | $6.7M | 25x | |
| Bybit CRWDUSDT | 0.0000% | 8h | 249.07 | −0.088% | $1.1M | $530K | 25x | as long as short |
| OKX CRWD-USDT-SWAP | 0.0000% | 8h | 249.25 | −0.015% | $601K | $651K | 25x | as long as short |
| Bitget CRWDUSDT | 0.0000% | 8h | 249.16 | −0.051% | $292K | $416K | 20x | as long as short |
| Variational Omni CRWD | 0.0000% | 8h | 249.20 | −0.035% | $67K | $60K | — | as long as short |
| GRVT CRWD_USDT_Perp | 0.0000% | 8h | 249.20 | −0.035% | $1K | $112K | 10x | as long as short |
| SunX CRWD-USDT | 0.0000% | 8h | 249.23 | −0.023% | $2K | $1.2M | 10x | as long as short |
Injective CRWD/USDC PERP
BloFin CRWD-USDT
Aster CRWDUSDT
Bybit CRWDUSDT
OKX CRWD-USDT-SWAP
Bitget CRWDUSDT
Variational Omni CRWD
GRVT CRWD_USDT_Perp
SunX CRWD-USDTShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX CRWD-USDT | 0.0000% | 8h | 249.69 | +0.161% | $6K | $7K | 20x | as long as short |
| Phemex CRWDUSDT | 0.0000% | 8h | 249.32 | +0.013% | $1.5M | $191K | 10x | as long as short |
| QFEX CRWD-USD | +0.0046% | 1h | 249.02 | −0.108% | $1.2M | $2.8M | 10x | as long as short |
| Extended CRWD_24_5-USD | +0.0048% | 1h | 249.04 | −0.098% | $99K | — | 10x | as long as short |
| tradeXYZ xyz:CRWD | +0.0050% | 1h | 249.03 | −0.104% | $868K | $623K | 10x | as long as short |
| KuCoin CRWDUSDTM | +0.0100% | 8h | 249.09 | −0.079% | $34K | $427K | 20x | as long as short |
| Paragon para:CRWD | +0.0281% | 1h | 248.75 | −0.214% | $84K | $108K | 10x | as long as short |
| Phoenix CRWDshort | +0.0289% | 1h | 249.17 | −0.047% | $4 | $106K | 10x |
HTX CRWD-USDT
Phemex CRWDUSDT
QFEX CRWD-USD
Extended CRWD_24_5-USD
tradeXYZ xyz:CRWD
KuCoin CRWDUSDTM
Paragon para:CRWD