Funding you earn now, next payment 11:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.051%
Price spread now: Phoenix against BingX+0.161%64s7-day average +0.045% · you sell dearer than you buy
Net, funding: paid 7d − costs−$108as 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−$510.509% of the position
Funding, last 7 days−0.570%−$57 on $10k
+Price spread, last 4 days (all we have)+0.296%+$30 · spread now +0.161%, 7d avg +0.045%
=The price spread pays, funding is against you. Phoenix is 0.116% dearer against BingX than usual: you sell high and buy low (spread +0.161% now, against its 7-day average of +0.045%): +$12 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.9 days. At the pace of the last 7 days (−0.570% in total) that is about 34 hours. The two prices were read 64 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 | BingX CRV-USDT | 0.3607 | 0.0100 | pay 0.0100% / 8h | 4h 08m | — | $40.0M | — |
| Short | Phoenix CRV | 0.3613 | 0 | get 0.0000% / 1h | 8m 15s | $26K | $163K | 10x |
BingX CRV-USDT
Phoenix CRVFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against BingX. 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
- −$21
- Price spread: +0.161% → +0.045%
- $11.57
- Slippage, 4 orders
- −$33.88
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$60.31
- Costs to cover
- 0.509%
- Break-even
- never at this rate
Slippage from BingX: live order book, 9 min ago; Phoenix: live order book, 26 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 BingX live order book, 9 min ago | 2.77 bp | 13.1 bp −$13 | 23.5 bp −$235 | 73.4 bp −$7,341 | 302.7 bp −$151.3K |
| Sell Phoenix live order book, 26 min ago | 1.12 bp | 12.9 bp −$13 | 44.1 bp −$441 | doesn't fit | doesn't fit |
CRV on 30 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni CRV | −0.0132% | 8h | 0.3601 | −0.180% | $1.1M | $105K | — | as long as short |
| Reya CRVRUSDPERP | −0.0048% | 1h | 0.3606 | −0.041% | $15 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3609 | +0.056% | $41K | $13K | 10x | as long as short |
| Phoenix CRVshort | 0.0000% | 1h | 0.3613 | +0.161% | $26K | $163K | 10x | |
| Deribit CRV_USDC-PERPETUAL | 0.0000% | 1h | 0.3608 | +0.028% | $55K | $45K | 25x | as long as short |
| Injective CRV/USDC PERP | +0.0033% | 1h | 0.3670 | +1.747% | $79 | $384K | 12x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3609 | +0.069% | $400K | $589K | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3610 | +0.079% | $139K | $130K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3607 | +0.001% | $378K | $201K | 10x | as long as short |
| Binance CRVUSDT | +0.0100% | 8h | 0.3609 | +0.055% | $25.0M | $51.0M | 75x | as long as short |
Variational Omni CRV
Reya CRVRUSDPERP
dYdX CRV-USD
Deribit CRV_USDC-PERPETUAL
Injective CRV/USDC PERP
Lighter CRV
Aster CRVUSDT
Pacifica CRV
Binance CRVUSDTShow all 30 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit CRVUSDT | +0.0100% | 8h | 0.3605 | −0.055% | $27.0M | $17.9M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3606 | −0.028% | $8.7M | $18.5M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3609 | +0.055% | $1.8M | $1.1M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3605 | −0.055% | $12.5M | $5.3M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3609 | +0.055% | $6.6M | $8.1M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3610 | +0.083% | $6.8M | $4.3M | 75x | as long as short |
| BingX CRV-USDTlong | +0.0100% | 8h | 0.3607 | long leg | — | $40.0M | — | |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3613 | +0.172% | $37K | $169K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3610 | +0.083% | $512K | $401K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3604 | −0.083% | $52K | $665K | 50x | as long as short |
| Orderly PERP_CRV_USDC | +0.0100% | 8h | 0.3607 | 0.000% | $24K | $850 | 10x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3669 | +1.719% | $2K | $1.2M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3606 | −0.023% | $258K | $531K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3608 | +0.034% | $13K | $6K | 3x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3606 | −0.028% | $1.3M | $3.2M | 75x | as long as short |
| Backpack CRV_USDC_PERP | +0.0312% | 1h | 0.3611 | +0.111% | $95K | $222K | 10x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0416% | 1h | 0.3614 | +0.194% | $360K | $4.0M | 50x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0417% / S −0.0178% | 1h | 0.3608 | +0.038% | $212K | — | 100x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0684% | 1h | 0.3614 | +0.192% | $3.1M | $2.1M | 50x | as long as short |
| Hyperliquid CRV | +0.0685% | 1h | 0.3614 | +0.205% | $22.0M | $16.0M | 10x | as long as short |
Bybit CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
edgeX CRVUSDC
GRVT CRV_USDT_Perp
ApeX Omni CRVUSDT
Orderly PERP_CRV_USDC
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
BloFin CRV-USDT
Backpack CRV_USDC_PERP
Coinbase International CRV-PERP-INTX
GMX CRV/USD [ETH-USDC]
Kraken Futures PF_CRVUSD
Hyperliquid CRV