Funding you earn now, next payment 04:00 UTC+0.0250%/8h= +27.3% APRnext payment +$0.31 per $10,000 · paid last 24h +0.047%
Price spread now: Coinbase International against Phoenix+1.890%7-day average −0.035% · you sell dearer than you buy
Net, funding: paid 7d − costs−$62as in the Funding arb table
Net, price: spread back to 7d avg − costs+$94as in the Price arb table
costs, in and out, $10k−$980.982% of the position
Funding, last 7 days+0.367%+$37 on $10k
+Price spread, last 4 days (all we have)−2.009%−$201 · spread now +1.890%, 7d avg −0.035%
=Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Coinbase International is 1.925% dearer against Phoenix than usual: you sell high and buy low: +$192 more if the spread goes back to its 7-day average of −0.035%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix CBRS | 206.37 | 0.0038 | pay 0.0005% / 1h | 6m 27s | $1K | $108K | 10x |
| Short | Coinbase International CBRS-PERP-INTX | 210.27 | 0.0288 | get 0.0036% / 1h | 6m 27s | $115K | $116K | 10x |
Phoenix CBRS
Coinbase International CBRS-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- $52.45
- Price spread: +1.890% → −0.035%
- $192.46
- Slippage, 4 orders
- −$81.24
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $146.67
- Costs to cover
- 0.982%
- Break-even
- from the start
Slippage from Phoenix: live order book, 38 min ago; Coinbase International: live order book, 46 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, 38 min ago | 10.55 bp | 38.8 bp −$39 | 112.5 bp −$1,125 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 46 min ago | 3.58 bp | 10.2 bp −$10 | 19.3 bp −$193 | 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 | −0.0500% | 4h | 206.59 | +0.106% | $23K | $220K | 10x | as long as short |
| tradeXYZ xyz:CBRS | −0.0348% | 1h | 206.69 | +0.155% | $42.3M | $3.8M | 10x | as long as short |
| Bitget CBRSUSDT | −0.0172% | 8h | 206.99 | +0.300% | $2.4M | $2.4M | 20x | as long as short |
| Aster CBRSUSDT | 0.0000% | 8h | 206.73 | +0.173% | $65K | $147K | 20x | as long as short |
| OKX CBRS-USDT-SWAP | 0.0000% | 8h | 207.05 | +0.330% | $2.2M | $3.5M | 25x | as long as short |
| SunX CBRS-USDT | 0.0000% | 8h | 207.08 | +0.344% | $1K | $2.9M | 10x | as long as short |
| HTX CBRS-USDT | 0.0000% | 8h | 206.67 | +0.145% | $9K | $10K | 20x | as long as short |
| Vest CBRS-USD-PERP | +0.0017% | 1h | 206.58 | +0.102% | — | $103K | 10x | as long as short |
| Lighter CBRS | +0.0032% | 1h | 206.84 | +0.228% | $89K | $870K | 10x | as long as short |
| Phoenix CBRSlong | +0.0038% | 1h | 206.37 | long leg | $1K | $108K | 10x |
edgeX CBRSUSDC
tradeXYZ xyz:CBRS
Bitget CBRSUSDT
Aster CBRSUSDT
OKX CBRS-USDT-SWAP
SunX CBRS-USDT
HTX CBRS-USDT
Vest CBRS-USD-PERP
Lighter CBRSShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps CBRS-USD | +0.0050% | 1h | 206.73 | +0.174% | $51K | $1.1M | 10x | as long as short |
| Ondo Perps CBRS-USD.P | +0.0052% | 1h | 206.73 | +0.174% | $336K | $713K | 10x | as long as short |
| QFEX CBRS-USD | +0.0063% | 1h | 206.68 | +0.150% | $1.1M | $3.1M | 10x | as long as short |
| Variational Omni CBRS | +0.0065% | 8h | 206.56 | +0.093% | $417K | $81K | — | as long as short |
| GRVT CBRS_USDT_Perp | +0.0090% | 8h | 206.59 | +0.107% | $1K | $211K | 10x | as long as short |
| KuCoin CBRSUSDTM | +0.0100% | 8h | 206.75 | +0.184% | $115K | $112K | 20x | as long as short |
| ApeX Omni CBRSUSDT | +0.0100% | 1h | 206.67 | +0.145% | $24K | $140K | 50x | as long as short |
| Orderly PERP_CBRS_USDC_mythos | +0.0100% | 8h | 206.73 | +0.174% | $818 | $1K | 10x | as long as short |
| Aevo CBRS-PERP | +0.0104% | 1h | 206.69 | +0.156% | $240 | — | 10x | as long as short |
| Binance CBRSUSDT | +0.0132% | 8h | 206.80 | +0.210% | $10.1M | $29.8M | 25x | as long as short |
| Extended CBRS_24_5-USD | +0.0136% | 1h | 206.74 | +0.180% | $45K | $312K | 10x | as long as short |
| BloFin CBRS-USDT | +0.0164% | 8h | 206.55 | +0.087% | $147K | $69K | 20x | as long as short |
| Coinbase International CBRS-PERP-INTXshort | +0.0288% | 1h | 210.27 | +1.890% | $115K | $116K | 10x | |
| Bybit CBRSUSDT | +0.0333% | 8h | 206.79 | +0.204% | $2.1M | $2.0M | 25x | as long as short |
| Gate CBRS_USDT | +0.0338% | 8h | 207.10 | +0.354% | $2.8M | $3.0M | 50x | as long as short |
| Deribit CBRS_USDC-PERPETUAL | +0.0524% | 1h | 206.79 | +0.204% | $12K | $5K | 10x | as long as short |
Polymarket Perps CBRS-USD
Ondo Perps CBRS-USD.P
QFEX CBRS-USD
Variational Omni CBRS
GRVT CBRS_USDT_Perp
KuCoin CBRSUSDTM
ApeX Omni CBRSUSDT
Orderly PERP_CBRS_USDC_mythos
Aevo CBRS-PERP
Binance CBRSUSDT
Extended CBRS_24_5-USD
BloFin CBRS-USDT
Bybit CBRSUSDT
Gate CBRS_USDT
Deribit CBRS_USDC-PERPETUAL