Funding you earn now, next payment 08:00 UTC+0.0629%/8h= +68.8% APRpaid last 24h +0.074%
Price spread now: Phoenix against Bybit+0.024%105s7-day average +0.093% · you sell dearer than you buy
Net, funding: paid 7d − costs−$101as 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−$1381.376% of the position
Funding, last 7 days+0.363%+$36 on $10k
+Price spread, last 4 days (all we have)−0.328%−$33 · spread now +0.024%, 7d avg +0.093%
=Funding pays, the price is against you. Phoenix is 0.069% cheaper against Bybit than usual: you would sell low and buy high (spread +0.024% now, against its 7-day average of +0.093%). If the spread goes back, that is −$7 on $10k: about 9 hours of funding at the current rate (+$19 a day). At the pace of the last 7 days (+0.363% in total) that is about 32 hours. The two prices were read 105 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 0.363% in total (about 18.9% 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 | Bybit CRWDUSDT | 249.41 | −0.0373 | get 0.0373% / 8h | 7h 25m | $1.1M | $433K | 25x |
| Short | Phoenix CRWD | 249.47 | 0.0255 | get 0.0032% / 1h | 25m 47s | $8 | $120K | 10x |
Bybit CRWDUSDT
Phoenix CRWDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bybit. 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
- $132
- Price spread: +0.024% → +0.093%
- −$6.91
- Slippage, 4 orders
- −$119.61
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$12.52
- Costs to cover
- 1.376%
- Break-even
- 7.7 days
Slippage from Bybit: live order book, 5 min ago; Phoenix: live order book, 64 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 Bybit live order book, 5 min ago | 5.61 bp | 50.0 bp −$50 | 208.0 bp −$2,080 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 64 min ago | 3.19 bp | 19.6 bp −$20 | 61.1 bp −$611 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit CRWDUSDTlong | −0.0373% | 8h | 249.41 | long leg | $1.1M | $433K | 25x | |
| Injective CRWD/USDC PERP | −0.0220% | 1h | 247.18 | −0.894% | $22K | $20K | 12x | as long as short |
| Paragon para:CRWD | −0.0046% | 1h | 249.64 | +0.092% | $84K | $108K | 10x | as long as short |
| BloFin CRWD-USDT | −0.0002% | 8h | 249.57 | +0.064% | $70K | $24K | 25x | as long as short |
| Aster CRWDUSDT | 0.0000% | 8h | 249.90 | +0.195% | $4K | $36K | 20x | as long as short |
| Binance CRWDUSDT | 0.0000% | 8h | 249.61 | +0.079% | $2.5M | $7.4M | 25x | as long as short |
| OKX CRWD-USDT-SWAP | 0.0000% | 8h | 249.61 | +0.080% | $539K | $771K | 25x | as long as short |
| Bitget CRWDUSDT | 0.0000% | 8h | 249.56 | +0.060% | $304K | $410K | 20x | as long as short |
| Variational Omni CRWD | 0.0000% | 8h | 249.63 | +0.089% | $66K | $57K | — | as long as short |
| GRVT CRWD_USDT_Perp | 0.0000% | 8h | 249.57 | +0.064% | $851 | $121K | 10x | as long as short |
Injective CRWD/USDC PERP
Paragon para:CRWD
BloFin CRWD-USDT
Aster CRWDUSDT
Binance CRWDUSDT
OKX CRWD-USDT-SWAP
Bitget CRWDUSDT
Variational Omni CRWD
GRVT CRWD_USDT_PerpShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX CRWD-USDT | 0.0000% | 8h | 249.55 | +0.056% | $1K | $1.1M | 10x | as long as short |
| HTX CRWD-USDT | 0.0000% | 8h | 249.67 | +0.104% | $6K | $7K | 20x | as long as short |
| Phemex CRWDUSDT | 0.0000% | 8h | 249.70 | +0.116% | $1.5M | $229K | 10x | as long as short |
| QFEX CRWD-USD | +0.0030% | 1h | 249.67 | +0.104% | $1.2M | $2.7M | 10x | as long as short |
| Extended CRWD_24_5-USD | +0.0048% | 1h | 249.65 | +0.096% | $100K | $200 | 10x | as long as short |
| tradeXYZ xyz:CRWD | +0.0050% | 1h | 249.66 | +0.100% | $888K | $691K | 10x | as long as short |
| KuCoin CRWDUSDTM | +0.0100% | 8h | 249.70 | +0.116% | $34K | $279K | 20x | as long as short |
| Phoenix CRWDshort | +0.0255% | 1h | 249.47 | +0.024% | $8 | $120K | 10x |
SunX CRWD-USDT
HTX CRWD-USDT
Phemex CRWDUSDT
QFEX CRWD-USD
Extended CRWD_24_5-USD
tradeXYZ xyz:CRWD
KuCoin CRWDUSDTM