Funding you earn now, next payment 23:00 UTC−0.0257%/8h= −28.2% APRpaid last 24h −0.064%
Price spread now: Bitget against Phoenix−0.100%109s7-day average −0.076% · you buy dearer than you sell
Net, funding: paid 7d − costs−$112as 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−$960.955% of the position
Funding, last 7 days−0.162%−$16 on $10k
+Price spread, last 3 days (all we have)+0.214%+$21 · spread now −0.100%, 7d avg −0.076%
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Bitget is 0.024% cheaper against Phoenix than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.076%). Swap the legs. The two prices were read 109 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 -0.162% in total (about -8.5% 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 | Phoenix CRWD | 248.99 | 0.0257 | pay 0.0032% / 1h | 47m 35s | $7 | $155K | 10x |
| Short | Bitget CRWDUSDT | 248.74 | 0 | get 0.0000% / 8h | 47m 35s | $291K | $490K | 20x |
Phoenix CRWD
Bitget CRWDUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Phoenix. 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
- −$54.04
- Price spread: −0.100% → −0.076%
- −$2.39
- Slippage, 4 orders
- −$76.53
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$151.96
- Costs to cover
- 0.955%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 23 min ago; Bitget: live order book, 27 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 Phoenix live order book, 23 min ago | 4.02 bp | 22.0 bp −$22 | 90.5 bp −$905 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 27 min ago | 7.24 bp | 14.0 bp −$14 | 38.3 bp −$383 | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin CRWD-USDT | −0.0023% | 8h | 248.96 | −0.012% | $73K | $25K | 25x | as long as short |
| Aster CRWDUSDT | 0.0000% | 8h | 248.68 | −0.125% | $4K | $37K | 20x | as long as short |
| Binance CRWDUSDT | 0.0000% | 8h | 248.85 | −0.056% | $2.4M | $7.0M | 25x | as long as short |
| Bybit CRWDUSDT | 0.0000% | 8h | 248.58 | −0.165% | $1.2M | $679K | 25x | as long as short |
| OKX CRWD-USDT-SWAP | 0.0000% | 8h | 248.84 | −0.060% | $621K | $723K | 25x | as long as short |
| Bitget CRWDUSDTshort | 0.0000% | 8h | 248.74 | −0.100% | $291K | $490K | 20x | |
| Variational Omni CRWD | 0.0000% | 8h | 248.88 | −0.043% | $67K | $61K | — | as long as short |
| GRVT CRWD_USDT_Perp | 0.0000% | 8h | 248.83 | −0.065% | $445 | $124K | 10x | as long as short |
| SunX CRWD-USDT | 0.0000% | 8h | 248.83 | −0.064% | $2K | $1.3M | 10x | as long as short |
| HTX CRWD-USDT | 0.0000% | 8h | 249.13 | +0.056% | $6K | $8K | 20x | as long as short |
BloFin CRWD-USDT
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 | 248.85 | −0.056% | $1.5M | $204K | 10x | as long as short |
| QFEX CRWD-USD | +0.0028% | 1h | 248.82 | −0.068% | $1.2M | $2.9M | 10x | as long as short |
| Extended CRWD_24_5-USD | +0.0048% | 1h | 248.57 | −0.170% | $99K | — | 10x | as long as short |
| tradeXYZ xyz:CRWD | +0.0050% | 1h | 248.76 | −0.092% | $867K | $665K | 10x | as long as short |
| KuCoin CRWDUSDTM | +0.0100% | 8h | 248.67 | −0.129% | $35K | $501K | 20x | as long as short |
| Paragon para:CRWD | +0.0196% | 1h | 248.62 | −0.148% | $84K | $115K | 10x | as long as short |
| Injective CRWD/USDC PERP | +0.0220% | 1h | 251.26 | +0.912% | $15K | $100 | 12x | as long as short |
| Phoenix CRWDlong | +0.0257% | 1h | 248.99 | long leg | $7 | $155K | 10x |
Phemex CRWDUSDT
QFEX CRWD-USD
Extended CRWD_24_5-USD
tradeXYZ xyz:CRWD
KuCoin CRWDUSDTM
Paragon para:CRWD
Injective CRWD/USDC PERP