Funding you earn now, next payment 04:00 UTC+0.0353%/8h= +38.7% APRpaid last 24h +0.071%
Price spread now: Phoenix against Phemex+0.032%7-day average +0.080% · you sell dearer than you buy
Net, funding: paid 7d − costs−$99as in the Funding arb table
Net, price: spread back to 7d avg − costs−$122as in the Price arb table
costs, in and out, $10k−$1171.175% of the position
Funding, last 7 days+0.182%+$18 on $10k
+Price spread, last 4 days (all we have)+0.041%+$4 · spread now +0.032%, 7d avg +0.080%
=Funding pays, the price is against you. Phoenix is 0.048% cheaper against Phemex than usual: you would sell low and buy high (spread +0.032% now, against its 7-day average of +0.080%). If the spread goes back, that is −$5 on $10k: about 11 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.182% in total) that is about 44 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.182% in total (about 9.5% 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 | Phemex CRWDUSDT | 249.70 | 0 | get 0.0000% / 8h | 3h 04m | $1.5M | $197K | 10x |
| Short | Phoenix CRWD | 249.78 | 0.0353 | get 0.0044% / 1h | 4m 22s | $3 | $106K | 10x |
Phemex CRWDUSDT
Phoenix CRWDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Phemex. 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
- $74.16
- Price spread: +0.032% → +0.080%
- −$4.82
- Slippage, 4 orders
- −$98.5
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$48.16
- Costs to cover
- 1.175%
- Break-even
- 11.5 days
Slippage from Phemex: live order book, 4 min ago; Phoenix: live order book, 40 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 Phemex live order book, 4 min ago | 3.00 bp | 41.7 bp −$42 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 40 min ago | 2.41 bp | 17.3 bp −$17 | 52.6 bp −$526 | doesn't fit | doesn't fit |
CRWD on 18 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective CRWD/USDC PERP | −0.0220% | 1h | 245.36 | −1.738% | $22K | $20K | 12x | as long as short |
| Aster CRWDUSDT | 0.0000% | 8h | 249.63 | −0.029% | $4K | $37K | 20x | as long as short |
| Binance CRWDUSDT | 0.0000% | 8h | 249.65 | −0.019% | $2.4M | $6.8M | 25x | as long as short |
| Bybit CRWDUSDT | 0.0000% | 8h | 249.46 | −0.096% | $1.1M | $530K | 25x | as long as short |
| OKX CRWD-USDT-SWAP | 0.0000% | 8h | 249.50 | −0.080% | $597K | $669K | 25x | as long as short |
| Bitget CRWDUSDT | 0.0000% | 8h | 249.73 | +0.012% | $292K | $416K | 20x | as long as short |
| Variational Omni CRWD | 0.0000% | 8h | 249.65 | −0.022% | $67K | $60K | — | as long as short |
| GRVT CRWD_USDT_Perp | 0.0000% | 8h | 249.75 | +0.020% | $697 | $117K | 10x | as long as short |
| SunX CRWD-USDT | 0.0000% | 8h | 249.56 | −0.056% | $2K | $1.2M | 10x | as long as short |
| HTX CRWD-USDT | 0.0000% | 8h | 249.91 | +0.084% | $6K | $7K | 20x | as long as short |
Injective CRWD/USDC PERP
Aster CRWDUSDT
Binance CRWDUSDT
Bybit CRWDUSDT
OKX CRWD-USDT-SWAP
Bitget CRWDUSDT
Variational Omni CRWD
GRVT CRWD_USDT_Perp
SunX CRWD-USDT
HTX CRWD-USDTShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex CRWDUSDTlong | 0.0000% | 8h | 249.70 | long leg | $1.5M | $197K | 10x | |
| BloFin CRWD-USDT | +0.0011% | 8h | 249.68 | −0.008% | $72K | $24K | 25x | as long as short |
| QFEX CRWD-USD | +0.0024% | 1h | 249.64 | −0.024% | $1.2M | $2.6M | 10x | as long as short |
| Extended CRWD_24_5-USD | +0.0048% | 1h | 249.65 | −0.022% | $100K | — | 10x | as long as short |
| tradeXYZ xyz:CRWD | +0.0050% | 1h | 249.60 | −0.040% | $859K | $632K | 10x | as long as short |
| KuCoin CRWDUSDTM | +0.0100% | 8h | 249.66 | −0.016% | $34K | $320K | 20x | as long as short |
| Paragon para:CRWD | +0.0314% | 1h | 249.59 | −0.044% | $84K | $108K | 10x | as long as short |
| Phoenix CRWDshort | +0.0353% | 1h | 249.78 | +0.032% | $3 | $106K | 10x |
BloFin CRWD-USDT
QFEX CRWD-USD
Extended CRWD_24_5-USD
tradeXYZ xyz:CRWD
KuCoin CRWDUSDTM
Paragon para:CRWD