Funding you earn now, next payment 04:00 UTC+0.0353%/8h= +38.7% APRpaid last 24h +0.071%
Price spread now: Phoenix against Bitget+0.044%79s7-day average +0.073% · you sell dearer than you buy
Net, funding: paid 7d − costs−$77as 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−$950.949% of the position
Funding, last 7 days+0.182%+$18 on $10k
+Price spread, last 4 days (all we have)−0.298%−$30 · spread now +0.044%, 7d avg +0.073%
=Funding pays, the price is against you. Phoenix is 0.029% cheaper against Bitget than usual: you would sell low and buy high (spread +0.044% now, against its 7-day average of +0.073%). If the spread goes back, that is −$3 on $10k: about 7 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.182% in total) that is about 27 hours. 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 0.182% in total (about 9.5% 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 CRWDUSDT | 249.11 | 0 | get 0.0000% / 8h | 3h 52m | $292K | $416K | 20x |
| Short | Phoenix CRWD | 249.22 | 0.0353 | get 0.0044% / 1h | 52m 10s | $3 | $106K | 10x |
Bitget CRWDUSDT
Phoenix CRWDFunding 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
- $74.16
- Price spread: +0.044% → +0.073%
- −$2.89
- Slippage, 4 orders
- −$75.91
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$23.64
- Costs to cover
- 0.949%
- Break-even
- 9.2 days
Slippage from Bitget: live order book, 63 min ago; Phoenix: live order book, 58 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, 63 min ago | 12.45 bp | 25.8 bp −$26 | 43.0 bp −$430 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 58 min ago | 4.01 bp | 23.9 bp −$24 | 76.2 bp −$762 | 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 | 245.36 | −1.505% | $22K | $20K | 12x | as long as short |
| Aster CRWDUSDT | 0.0000% | 8h | 248.84 | −0.108% | $4K | $37K | 20x | as long as short |
| Binance CRWDUSDT | 0.0000% | 8h | 248.95 | −0.064% | $2.4M | $6.7M | 25x | as long as short |
| Bybit CRWDUSDT | 0.0000% | 8h | 248.74 | −0.149% | $1.1M | $530K | 25x | as long as short |
| OKX CRWD-USDT-SWAP | 0.0000% | 8h | 248.91 | −0.080% | $596K | $665K | 25x | as long as short |
| Bitget CRWDUSDTlong | 0.0000% | 8h | 249.11 | long leg | $292K | $416K | 20x | |
| Variational Omni CRWD | 0.0000% | 8h | 249.22 | +0.043% | $67K | $60K | — | as long as short |
| GRVT CRWD_USDT_Perp | 0.0000% | 8h | 249.21 | +0.040% | $501 | $114K | 10x | as long as short |
| SunX CRWD-USDT | 0.0000% | 8h | 249.04 | −0.028% | $2K | $1.2M | 10x | as long as short |
| HTX CRWD-USDT | 0.0000% | 8h | 249.13 | +0.008% | $6K | $7K | 20x | as long as short |
Injective CRWD/USDC PERP
Aster CRWDUSDT
Binance CRWDUSDT
Bybit CRWDUSDT
OKX CRWD-USDT-SWAP
Variational Omni CRWD
GRVT CRWD_USDT_Perp
SunX CRWD-USDT
HTX CRWD-USDTShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex CRWDUSDT | 0.0000% | 8h | 248.95 | −0.064% | $1.5M | $194K | 10x | as long as short |
| BloFin CRWD-USDT | +0.0016% | 8h | 248.92 | −0.076% | $72K | $24K | 25x | as long as short |
| QFEX CRWD-USD | +0.0024% | 1h | 248.96 | −0.060% | $1.2M | $2.6M | 10x | as long as short |
| Extended CRWD_24_5-USD | +0.0048% | 1h | 248.81 | −0.118% | $99K | — | 10x | as long as short |
| tradeXYZ xyz:CRWD | +0.0050% | 1h | 248.92 | −0.076% | $861K | $627K | 10x | as long as short |
| KuCoin CRWDUSDTM | +0.0100% | 8h | 248.89 | −0.088% | $34K | $357K | 20x | as long as short |
| Phoenix CRWDshort | +0.0353% | 1h | 249.22 | +0.044% | $3 | $106K | 10x | |
| Paragon para:CRWD | +0.0467% | 1h | 248.82 | −0.116% | $84K | $108K | 10x | as long as short |
Phemex CRWDUSDT
BloFin CRWD-USDT
QFEX CRWD-USD
Extended CRWD_24_5-USD
tradeXYZ xyz:CRWD
KuCoin CRWDUSDTM
Paragon para:CRWD