Funding you earn now, next payment 01:00 UTC+0.0307%/8h= +33.6% APRpaid last 24h +0.078%
Price spread now: Binance against Phoenix+0.198%95s7-day average +0.068% · you sell dearer than you buy
Net, funding: paid 7d − costs−$89as 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−$1121.121% of the position
Funding, last 7 days+0.228%+$23 on $10k
+Price spread, last 2 days (all we have)−0.092%−$9 · spread now +0.198%, 7d avg +0.068%
=Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Binance is 0.129% dearer against Phoenix than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.068%. The two prices were read 95 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 | Phoenix CBRS | 209.13 | 0.0038 | pay 0.0005% / 1h | 15m 55s | $1K | $109K | 10x |
| Short | Binance CBRSUSDT | 209.54 | 0.0345 | get 0.0345% / 8h | 6h 15m | $10.3M | $29.5M | 25x |
Phoenix CBRS
Binance CBRSUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- $64.53
- Price spread: +0.198% → +0.068%
- $12.92
- Slippage, 4 orders
- −$95.08
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$34.63
- Costs to cover
- 1.121%
- Break-even
- 10.8 days
Slippage from Phoenix: live order book, 44 min ago; Binance: live order book, 10 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, 44 min ago | 11.92 bp | 45.3 bp −$45 | 143.8 bp −$1,438 | doesn't fit | doesn't fit |
| Sell Binance live order book, 10 min ago | 0.24 bp | 9.0 bp −$9 | 34.4 bp −$344 | 115.3 bp −$11.5K | doesn't fit |
CBRS on 25 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 | −0.0833% | 4h | 209.22 | +0.045% | $24K | $220K | 10x | as long as short |
| tradeXYZ xyz:CBRS | −0.0123% | 1h | 209.23 | +0.048% | $42.9M | $3.5M | 10x | as long as short |
| Coinbase International CBRS-PERP-INTX | −0.0040% | 1h | 208.44 | −0.330% | $114K | $114K | 10x | as long as short |
| Aster CBRSUSDT | 0.0000% | 8h | 209.46 | +0.158% | $66K | $147K | 20x | as long as short |
| OKX CBRS-USDT-SWAP | 0.0000% | 8h | 209.43 | +0.143% | $2.2M | $3.5M | 25x | as long as short |
| Bitget CBRSUSDT | 0.0000% | 8h | 209.44 | +0.148% | $2.4M | $2.8M | 20x | as long as short |
| GRVT CBRS_USDT_Perp | 0.0000% | 8h | 209.21 | +0.040% | $795 | $206K | 10x | as long as short |
| SunX CBRS-USDT | 0.0000% | 8h | 209.88 | +0.359% | $1K | $3.0M | 10x | as long as short |
| HTX CBRS-USDT | 0.0000% | 8h | 209.59 | +0.220% | $9K | $9K | 20x | as long as short |
| Vest CBRS-USD-PERP | +0.0019% | 1h | 209.19 | +0.029% | — | $94K | 10x | as long as short |
edgeX CBRSUSDC
tradeXYZ xyz:CBRS
Coinbase International CBRS-PERP-INTX
Aster CBRSUSDT
OKX CBRS-USDT-SWAP
Bitget CBRSUSDT
GRVT CBRS_USDT_Perp
SunX CBRS-USDT
HTX CBRS-USDT
Vest CBRS-USD-PERPShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter CBRS | +0.0032% | 1h | 209.29 | +0.077% | $90K | $850K | 10x | as long as short |
| QFEX CBRS-USD | +0.0038% | 1h | 209.42 | +0.139% | $1.1M | $3.3M | 10x | as long as short |
| Phoenix CBRSlong | +0.0038% | 1h | 209.13 | long leg | $1K | $109K | 10x | |
| Polymarket Perps CBRS-USD | +0.0050% | 1h | 209.43 | +0.143% | $53K | $1.1M | 10x | as long as short |
| Ondo Perps CBRS-USD.P | +0.0050% | 1h | 209.48 | +0.167% | $340K | $741K | 10x | as long as short |
| Gate CBRS_USDT | +0.0065% | 8h | 209.50 | +0.177% | $2.9M | $3.0M | 50x | as long as short |
| KuCoin CBRSUSDTM | +0.0100% | 8h | 209.43 | +0.143% | $115K | $120K | 20x | as long as short |
| ApeX Omni CBRSUSDT | +0.0100% | 1h | 209.30 | +0.081% | $24K | $139K | 50x | as long as short |
| Orderly PERP_CBRS_USDC_mythos | +0.0100% | 8h | 209.45 | +0.153% | $860 | $1K | 10x | as long as short |
| Aevo CBRS-PERP | +0.0104% | 1h | 209.49 | +0.174% | $243 | — | 10x | as long as short |
| Bybit CBRSUSDT | +0.0116% | 8h | 209.59 | +0.220% | $2.1M | $1.9M | 25x | as long as short |
| Variational Omni CBRS | +0.0316% | 8h | 209.46 | +0.156% | $423K | $124K | — | as long as short |
| Extended CBRS_24_5-USD | +0.0344% | 1h | 209.43 | +0.146% | $44K | $271K | 10x | as long as short |
| Binance CBRSUSDTshort | +0.0345% | 8h | 209.54 | +0.198% | $10.3M | $29.5M | 25x | |
| Deribit CBRS_USDC-PERPETUAL | +0.0514% | 1h | 209.47 | +0.163% | $12K | $5K | 10x | as long as short |
Lighter CBRS
QFEX CBRS-USD
Polymarket Perps CBRS-USD
Ondo Perps CBRS-USD.P
Gate CBRS_USDT
KuCoin CBRSUSDTM
ApeX Omni CBRSUSDT
Orderly PERP_CBRS_USDC_mythos
Aevo CBRS-PERP
Bybit CBRSUSDT
Variational Omni CBRS
Extended CBRS_24_5-USD
Deribit CBRS_USDC-PERPETUAL