Funding you earn now, next payment 23:00 UTC−0.0485%/8h= −53.1% APRpaid last 24h −0.046%
Price spread now: Phoenix against Binance−0.148%55s7-day average −0.069% · you buy dearer than you sell
Net, funding: paid 7d − costs−$166as 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−$1451.447% of the position
Funding, last 7 days−0.218%−$22 on $10k
+Price spread, last 2 days (all we have)+0.050%+$5 · spread now −0.148%, 7d avg −0.069%
=Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Phoenix is 0.079% cheaper against Binance than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.069%). Swap the legs. The two prices were read 55 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 -0.218% in total (about -11.4% 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 | Binance CBRSUSDT | 209.51 | 0.0485 | pay 0.0485% / 8h | 14m 33s | $10.3M | $30.0M | 25x |
| Short | Phoenix CBRS | 209.20 | 0 | get 0.0000% / 1h | 14m 33s | $1K | $111K | 10x |
Binance CBRSUSDT
Phoenix CBRSFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Binance. 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
- −$101.84
- Price spread: −0.148% → −0.069%
- −$7.93
- Slippage, 4 orders
- −$127.67
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$254.44
- Costs to cover
- 1.447%
- Break-even
- never at this rate
Slippage from Binance: live order book, 12 min ago; Phoenix: live order book, 55 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 Binance live order book, 12 min ago | 0.95 bp | 10.3 bp −$10 | 25.0 bp −$250 | 103.1 bp −$10.3K | doesn't fit |
| Sell Phoenix live order book, 55 min ago | 15.30 bp | 63.2 bp −$63 | 212.7 bp −$2,127 | doesn't fit | doesn't fit |
CBRS on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX CBRSUSDC | −0.0363% | 4h | 209.58 | +0.032% | $24K | $222K | 10x | as long as short |
| tradeXYZ xyz:CBRS | −0.0199% | 1h | 209.32 | −0.091% | $42.9M | $3.6M | 10x | as long as short |
| Aster CBRSUSDT | 0.0000% | 8h | 209.30 | −0.101% | $66K | $147K | 20x | as long as short |
| Bybit CBRSUSDT | 0.0000% | 8h | 209.69 | +0.086% | $2.0M | $1.9M | 25x | as long as short |
| OKX CBRS-USDT-SWAP | 0.0000% | 8h | 209.51 | 0.000% | $2.2M | $3.6M | 25x | as long as short |
| Bitget CBRSUSDT | 0.0000% | 8h | 209.53 | +0.010% | $2.4M | $2.8M | 20x | as long as short |
| Phoenix CBRSshort | 0.0000% | 1h | 209.20 | −0.148% | $1K | $111K | 10x | |
| SunX CBRS-USDT | 0.0000% | 8h | 209.80 | +0.138% | $986 | $3.2M | 10x | as long as short |
| HTX CBRS-USDT | 0.0000% | 8h | 209.73 | +0.105% | $9K | $7K | 20x | as long as short |
| Gate CBRS_USDT | +0.0010% | 8h | 209.60 | +0.043% | $2.9M | $3.1M | 50x | as long as short |
edgeX CBRSUSDC
tradeXYZ xyz:CBRS
Aster CBRSUSDT
Bybit CBRSUSDT
OKX CBRS-USDT-SWAP
Bitget CBRSUSDT
SunX CBRS-USDT
HTX CBRS-USDT
Gate CBRS_USDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest CBRS-USD-PERP | +0.0015% | 1h | 209.18 | −0.158% | — | $98K | 10x | as long as short |
| Coinbase International CBRS-PERP-INTX | +0.0016% | 1h | 208.44 | −0.511% | $114K | $114K | 10x | as long as short |
| QFEX CBRS-USD | +0.0021% | 1h | 209.46 | −0.024% | $1.1M | $3.4M | 10x | as long as short |
| Lighter CBRS | +0.0032% | 1h | 209.31 | −0.095% | $92K | $873K | 10x | as long as short |
| Polymarket Perps CBRS-USD | +0.0050% | 1h | 209.32 | −0.091% | $53K | $1.1M | 10x | as long as short |
| Ondo Perps CBRS-USD.P | +0.0050% | 1h | 209.48 | −0.014% | $342K | $921K | 10x | as long as short |
| KuCoin CBRSUSDTM | +0.0100% | 8h | 209.23 | −0.134% | $143K | $92K | 20x | as long as short |
| ApeX Omni CBRSUSDT | +0.0100% | 1h | 209.36 | −0.072% | $24K | $136K | 50x | as long as short |
| Orderly PERP_CBRS_USDC_mythos | +0.0100% | 8h | 209.37 | −0.067% | $860 | $1K | 10x | as long as short |
| Aevo CBRS-PERP | +0.0104% | 1h | 209.47 | −0.019% | $243 | — | 10x | as long as short |
| Variational Omni CBRS | +0.0447% | 8h | 209.60 | +0.045% | $423K | $321K | — | as long as short |
| Extended CBRS_24_5-USD | +0.0480% | 1h | 209.48 | −0.014% | $43K | $246K | 10x | as long as short |
| Binance CBRSUSDTlong | +0.0485% | 8h | 209.51 | long leg | $10.3M | $30.0M | 25x | |
| BloFin CBRS-USDT | +0.0494% | 8h | 209.58 | +0.033% | $146K | $71K | 20x | as long as short |
| GRVT CBRS_USDT_Perp | +0.0543% | 8h | 209.54 | +0.014% | $482 | $221K | 10x | as long as short |
| Deribit CBRS_USDC-PERPETUAL | +0.0705% | 1h | 209.54 | +0.014% | $12K | $5K | 10x | as long as short |
Vest CBRS-USD-PERP
Coinbase International CBRS-PERP-INTX
QFEX CBRS-USD
Lighter CBRS
Polymarket Perps CBRS-USD
Ondo Perps CBRS-USD.P
KuCoin CBRSUSDTM
ApeX Omni CBRSUSDT
Orderly PERP_CBRS_USDC_mythos
Aevo CBRS-PERP
Variational Omni CBRS
Extended CBRS_24_5-USD
BloFin CBRS-USDT
GRVT CBRS_USDT_Perp
Deribit CBRS_USDC-PERPETUAL