Funding you earn now, next payment 04:00 UTC−0.0329%/8h= −36.0% APRnext payment −$0.41 per $10,000 · paid last 24h −0.072%
Price spread now: QFEX against Phoenix+0.024%7-day average −0.090% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$99as in the Price arb table
costs, in and out, $10k−$1111.109% of the position
Funding, last 4 days (all we have)−0.114%−$11 on $10k
+Price spread, last 4 days (all we have)+0.087%+$9 · spread now +0.024%, 7d avg −0.090%
=The price spread pays, funding is against you. QFEX is 0.115% dearer against Phoenix than usual: you sell high and buy low (spread +0.024% now, against its 7-day average of −0.090%): +$11 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 28 hours. At the pace of the last 4 days (−0.114% in total) that is about 3.6 days.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.114% in total (about -11.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.41 per $10,000. 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 | 248.97 | 0.0353 | pay 0.0044% / 1h | 46m 47s | $9 | $106K | 10x |
| Short | QFEX CRWD-USD | 249.03 | 0.0024 | get 0.0003% / 1h | 46m 47s | $1.2M | $2.6M | 10x |
Phoenix CRWD
QFEX CRWD-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- −$69.1
- Price spread: +0.024% → −0.090%
- $11.46
- Slippage, 4 orders
- −$93.92
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$168.56
- Costs to cover
- 1.109%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 63 min ago; QFEX: live order book, 6 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, 63 min ago | 4.01 bp | 21.9 bp −$22 | 90.4 bp −$904 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 6 min ago | 27.32 bp | 32.4 bp −$32 | 40.2 bp −$402 | 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 | −1.450% | $22K | $20K | 12x | as long as short |
| Aster CRWDUSDT | 0.0000% | 8h | 248.95 | −0.008% | $4K | $37K | 20x | as long as short |
| Binance CRWDUSDT | 0.0000% | 8h | 249.09 | +0.048% | $2.4M | $6.7M | 25x | as long as short |
| Bybit CRWDUSDT | 0.0000% | 8h | 248.90 | −0.028% | $1.1M | $530K | 25x | as long as short |
| OKX CRWD-USDT-SWAP | 0.0000% | 8h | 249.02 | +0.020% | $596K | $666K | 25x | as long as short |
| Bitget CRWDUSDT | 0.0000% | 8h | 249.10 | +0.052% | $292K | $416K | 20x | as long as short |
| Variational Omni CRWD | 0.0000% | 8h | 248.93 | −0.015% | $67K | $60K | — | as long as short |
| GRVT CRWD_USDT_Perp | 0.0000% | 8h | 249.03 | +0.025% | $772 | $116K | 10x | as long as short |
| SunX CRWD-USDT | 0.0000% | 8h | 249.00 | +0.012% | $2K | $1.2M | 10x | as long as short |
| HTX CRWD-USDT | 0.0000% | 8h | 249.25 | +0.112% | $6K | $7K | 20x | as long as short |
Injective CRWD/USDC PERP
Aster CRWDUSDT
Binance CRWDUSDT
Bybit CRWDUSDT
OKX CRWD-USDT-SWAP
Bitget CRWDUSDT
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 | 249.09 | +0.048% | $1.5M | $194K | 10x | as long as short |
| BloFin CRWD-USDT | +0.0012% | 8h | 249.08 | +0.044% | $72K | $24K | 25x | as long as short |
| QFEX CRWD-USDshort | +0.0024% | 1h | 249.03 | +0.024% | $1.2M | $2.6M | 10x | |
| Extended CRWD_24_5-USD | +0.0048% | 1h | 248.89 | −0.032% | $99K | — | 10x | as long as short |
| tradeXYZ xyz:CRWD | +0.0050% | 1h | 248.90 | −0.028% | $861K | $627K | 10x | as long as short |
| KuCoin CRWDUSDTM | +0.0100% | 8h | 248.98 | +0.004% | $34K | $354K | 20x | as long as short |
| Phoenix CRWDlong | +0.0353% | 1h | 248.97 | long leg | $9 | $106K | 10x | |
| Paragon para:CRWD | +0.0409% | 1h | 248.82 | −0.060% | $84K | $108K | 10x | as long as short |
Phemex CRWDUSDT
BloFin CRWD-USDT
Extended CRWD_24_5-USD
tradeXYZ xyz:CRWD
KuCoin CRWDUSDTM
Paragon para:CRWD