Funding you earn now, next payment 04:00 UTC−0.0012%/8h= −1.3% APRnext payment −$0.01 per $10,000 · paid last 24h −0.032%
Price spread now: Phoenix against Polymarket Perps−0.174%59s7-day average +0.015% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$950.949% of the position
Funding, last 6 days (all we have)−0.227%−$23 on $10k
+Price spread, last 4 days (all we have)+0.459%+$46 · spread now −0.174%, 7d avg +0.015%
=Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Phoenix is 0.190% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.015%). Swap the legs. The two prices were read 59 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 | Polymarket Perps CBRS-USD | 206.73 | 0.0050 | pay 0.0006% / 1h | 6m 21s | $51K | $1.1M | 10x |
| Short | Phoenix CBRS | 206.37 | 0.0038 | get 0.0005% / 1h | 6m 21s | $1K | $108K | 10x |
Polymarket Perps CBRS-USD
Phoenix CBRSFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Polymarket Perps. 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
- −$2.47
- Price spread: −0.174% → +0.015%
- −$18.96
- Slippage, 4 orders
- −$79.9
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$116.33
- Costs to cover
- 0.949%
- Break-even
- never at this rate
Slippage from Polymarket Perps: live order book, 2 min ago; Phoenix: live order book, 39 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 Polymarket Perps live order book, 2 min ago | 3.15 bp | 8.7 bp −$9 | 9.2 bp −$92 | 11.8 bp −$1,178 | doesn't fit |
| Sell Phoenix live order book, 39 min ago | 10.55 bp | 40.2 bp −$40 | 102.0 bp −$1,020 | 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 | −0.068% | $23K | $220K | 10x | as long as short |
| tradeXYZ xyz:CBRS | −0.0347% | 1h | 206.76 | +0.015% | $42.3M | $3.8M | 10x | as long as short |
| Bitget CBRSUSDT | −0.0172% | 8h | 206.99 | +0.126% | $2.4M | $2.4M | 20x | as long as short |
| Aster CBRSUSDT | 0.0000% | 8h | 206.77 | +0.017% | $65K | $147K | 20x | as long as short |
| OKX CBRS-USDT-SWAP | 0.0000% | 8h | 207.05 | +0.155% | $2.2M | $3.5M | 25x | as long as short |
| SunX CBRS-USDT | 0.0000% | 8h | 207.27 | +0.261% | $1K | $2.9M | 10x | as long as short |
| HTX CBRS-USDT | 0.0000% | 8h | 206.67 | −0.029% | $9K | $10K | 20x | as long as short |
| Vest CBRS-USD-PERP | +0.0017% | 1h | 206.58 | −0.073% | — | $103K | 10x | as long as short |
| Lighter CBRS | +0.0032% | 1h | 206.84 | +0.053% | $89K | $870K | 10x | as long as short |
| Phoenix CBRSshort | +0.0038% | 1h | 206.37 | −0.174% | $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-USDlong | +0.0050% | 1h | 206.73 | long leg | $51K | $1.1M | 10x | |
| Ondo Perps CBRS-USD.P | +0.0052% | 1h | 206.73 | 0.000% | $336K | $713K | 10x | as long as short |
| QFEX CBRS-USD | +0.0063% | 1h | 206.68 | −0.024% | $1.1M | $3.1M | 10x | as long as short |
| Variational Omni CBRS | +0.0065% | 8h | 206.56 | −0.081% | $417K | $81K | — | as long as short |
| GRVT CBRS_USDT_Perp | +0.0090% | 8h | 206.59 | −0.068% | $1K | $211K | 10x | as long as short |
| KuCoin CBRSUSDTM | +0.0100% | 8h | 206.67 | −0.029% | $115K | $112K | 20x | as long as short |
| ApeX Omni CBRSUSDT | +0.0100% | 1h | 206.67 | −0.029% | $24K | $140K | 50x | as long as short |
| Orderly PERP_CBRS_USDC_mythos | +0.0100% | 8h | 206.84 | +0.053% | $818 | $1K | 10x | as long as short |
| Aevo CBRS-PERP | +0.0104% | 1h | 206.88 | +0.071% | $240 | — | 10x | as long as short |
| Binance CBRSUSDT | +0.0132% | 8h | 206.89 | +0.078% | $10.1M | $29.8M | 25x | as long as short |
| Extended CBRS_24_5-USD | +0.0136% | 1h | 206.86 | +0.063% | $44K | $317K | 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-INTX | +0.0288% | 1h | 210.27 | +1.712% | $115K | $116K | 10x | as long as short |
| Bybit CBRSUSDT | +0.0333% | 8h | 206.85 | +0.058% | $2.1M | $2.0M | 25x | as long as short |
| Gate CBRS_USDT | +0.0338% | 8h | 207.10 | +0.179% | $2.8M | $3.0M | 50x | as long as short |
| Deribit CBRS_USDC-PERPETUAL | +0.1008% | 1h | 206.89 | +0.077% | $12K | $5K | 10x | as long as short |
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
Coinbase International CBRS-PERP-INTX
Bybit CBRSUSDT
Gate CBRS_USDT
Deribit CBRS_USDC-PERPETUAL