Funding you earn now, next payment 01:00 UTC−0.0166%/8h= −18.2% APRpaid last 24h −0.068%
Price spread now: Phoenix against Bybit+0.273%115s7-day average +0.062% · you sell dearer than you buy
Net, funding: paid 7d − costs−$102as 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−$510.508% of the position
Funding, last 7 days−0.507%−$51 on $10k
+Price spread, last 4 days (all we have)+1.280%+$128 · spread now +0.273%, 7d avg +0.062%
=The price spread pays, funding is against you. Phoenix is 0.211% dearer against Bybit than usual: you sell high and buy low (spread +0.273% now, against its 7-day average of +0.062%): +$21 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 4.2 days. The two prices were read 115 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 | Bybit CRVUSDT | 0.3665 | 0.0100 | pay 0.0100% / 8h | 5h 53m | $27.8M | $17.5M | 75x |
| Short | Phoenix CRV | 0.3675 | −0.0066 | pay 0.0008% / 1h | 53m 32s | $26K | $168K | 10x |
Bybit CRVUSDT
Phoenix CRVFunding 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
- −$34.84
- Price spread: +0.273% → +0.062%
- $21.06
- Slippage, 4 orders
- −$32.81
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$64.59
- Costs to cover
- 0.508%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 5 min ago; Phoenix: live order book, 2 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 | 1.37 bp | 10.4 bp −$10 | 26.5 bp −$265 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 2 min ago | 1.09 bp | 12.7 bp −$13 | 44.0 bp −$440 | doesn't fit | doesn't fit |
CRV on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni CRVUSDT | −0.0154% | 1h | 0.3650 | −0.409% | $53K | $688K | 50x | as long as short |
| Phoenix CRVshort | −0.0066% | 1h | 0.3675 | +0.273% | $26K | $168K | 10x | |
| Reya CRVRUSDPERP | −0.0048% | 1h | 0.3662 | −0.071% | $16 | — | 15x | as long as short |
| Deribit CRV_USDC-PERPETUAL | −0.0023% | 1h | 0.3664 | −0.027% | $56K | $49K | 25x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3666 | +0.023% | $38K | $7K | 10x | as long as short |
| Injective CRV/USDC PERP | +0.0033% | 1h | 0.3670 | +0.136% | $79 | $384K | 12x | as long as short |
| Orderly PERP_CRV_USDC | +0.0095% | 8h | 0.3664 | −0.027% | $24K | $902 | 10x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3663 | −0.065% | $385K | $703K | 10x | as long as short |
| Hyperliquid CRV | +0.0100% | 1h | 0.3670 | +0.134% | $22.3M | $15.0M | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3666 | +0.016% | $131K | $180K | 10x | as long as short |
ApeX Omni CRVUSDT
Reya CRVRUSDPERP
Deribit CRV_USDC-PERPETUAL
dYdX CRV-USD
Injective CRV/USDC PERP
Orderly PERP_CRV_USDC
Lighter CRV
Hyperliquid CRV
Aster CRVUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica CRV | +0.0100% | 1h | 0.3665 | +0.005% | $372K | $198K | 10x | as long as short |
| Binance CRVUSDT | +0.0100% | 8h | 0.3665 | +0.001% | $25.3M | $54.3M | 75x | as long as short |
| Bybit CRVUSDTlong | +0.0100% | 8h | 0.3665 | long leg | $27.8M | $17.5M | 75x | |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3664 | −0.027% | $8.8M | $20.5M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3668 | +0.082% | $1.9M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3665 | 0.000% | $14.7M | $5.3M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3666 | +0.027% | $6.3M | $8.9M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3667 | +0.055% | $6.9M | $5.2M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3666 | +0.027% | — | $1.6M | — | as long as short |
| Backpack CRV_USDC_PERP | +0.0100% | 1h | 0.3664 | −0.016% | $97K | $268K | 10x | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3686 | +0.570% | $1.1M | $101K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3667 | +0.057% | $38K | $172K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3657 | −0.214% | $515K | $416K | 10x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3708 | +1.173% | $2K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3666 | +0.017% | $243K | $474K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3664 | −0.027% | $13K | $6K | 3x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0344% | 1h | 0.3667 | +0.055% | $385K | $4.1M | 50x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0370% | 1h | 0.3670 | +0.125% | $3.1M | $2.6M | 50x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0435% / S −0.0188% | 1h | 0.3663 | −0.056% | $221K | — | 100x | as long as short |
Pacifica CRV
Binance CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDC
Backpack CRV_USDC_PERP
Variational Omni CRV
edgeX CRVUSDC
GRVT CRV_USDT_Perp
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
Coinbase International CRV-PERP-INTX
Kraken Futures PF_CRVUSD
GMX CRV/USD [ETH-USDC]