Funding you earn now, next payment 22:00 UTC−0.0276%/8h= −30.2% APRpaid last 24h −0.066%
Price spread now: Phoenix against Bybit−0.093%7-day average +0.062% · you buy dearer than you sell
Net, funding: paid 7d − costs−$108as in the Funding arb table
Net, price: spread back to 7d avg − costs−$72as in the Price arb table
costs, in and out, $10k−$560.564% of the position
Funding, last 7 days−0.515%−$51 on $10k
+Price spread, last 3 days (all we have)+0.564%+$56 · spread now −0.093%, 7d avg +0.062%
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Phoenix is 0.155% cheaper against Bybit than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.062%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit CRVUSDT | 0.3662 | 0.0100 | pay 0.0100% / 8h | 1h 13m | $27.8M | $17.0M | 75x |
| Short | Phoenix CRV | 0.3659 | −0.0176 | pay 0.0022% / 1h | 13m 24s | $26K | $181K | 10x |
Bybit CRVUSDT
Phoenix CRVFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bybit. 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
- −$57.99
- Price spread: −0.093% → +0.062%
- −$15.52
- Slippage, 4 orders
- −$38.42
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$129.93
- Costs to cover
- 0.564%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 5 min ago; Phoenix: live order book, 64 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 Bybit live order book, 5 min ago | 1.37 bp | 11.0 bp −$11 | 29.2 bp −$292 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 64 min ago | 1.38 bp | 17.1 bp −$17 | 63.7 bp −$637 | doesn't fit | doesn't fit |
CRV on 30 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 CRV/USDC PERP | −0.0228% | 1h | 0.3670 | +0.218% | $79 | $384K | 12x | as long as short |
| Phoenix CRVshort | −0.0176% | 1h | 0.3659 | −0.093% | $26K | $181K | 10x | |
| Reya CRVRUSDPERP | −0.0049% | 1h | 0.3661 | −0.027% | $16 | — | 15x | as long as short |
| Deribit CRV_USDC-PERPETUAL | −0.0023% | 1h | 0.3664 | +0.055% | $57K | $48K | 25x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3664 | +0.053% | $38K | $4K | 10x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0027% | 1h | 0.3668 | +0.175% | $3.1M | $3.0M | 50x | as long as short |
| Orderly PERP_CRV_USDC | +0.0096% | 8h | 0.3664 | +0.055% | $24K | $929 | 10x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3663 | +0.035% | $414K | $707K | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3664 | +0.068% | $131K | $186K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3665 | +0.074% | $369K | $206K | 10x | as long as short |
Injective CRV/USDC PERP
Reya CRVRUSDPERP
Deribit CRV_USDC-PERPETUAL
dYdX CRV-USD
Kraken Futures PF_CRVUSD
Orderly PERP_CRV_USDC
Lighter CRV
Aster CRVUSDT
Pacifica CRVShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CRVUSDT | +0.0100% | 8h | 0.3662 | +0.003% | $25.7M | $56.5M | 75x | as long as short |
| Bybit CRVUSDTlong | +0.0100% | 8h | 0.3662 | long leg | $27.8M | $17.0M | 75x | |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3660 | −0.055% | $8.7M | $21.6M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3664 | +0.055% | $2.0M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3663 | +0.027% | $14.6M | $5.5M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3666 | +0.109% | $7.2M | $9.0M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3664 | +0.055% | $6.9M | $5.6M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3661 | −0.027% | — | $1.7M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3655 | −0.190% | $1.1M | $124K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3654 | −0.206% | $38K | $173K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3660 | −0.056% | $518K | $435K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3658 | −0.109% | $60K | $694K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3691 | +0.792% | $2K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3659 | −0.075% | $243K | $881K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3664 | +0.041% | $19K | $9K | 3x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3662 | 0.000% | $1.4M | $4.2M | 75x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0376% | 1h | 0.3665 | +0.082% | $386K | $4.7M | 50x | as long as short |
| Hyperliquid CRV | +0.0377% | 1h | 0.3669 | +0.191% | $22.8M | $16.4M | 10x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0402% / S −0.0160% | 1h | 0.3665 | +0.093% | $217K | — | 100x | as long as short |
| Backpack CRV_USDC_PERP | +0.0472% | 1h | 0.3668 | +0.164% | $108K | $369K | 10x | as long as short |
Binance CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDC
Variational Omni CRV
edgeX CRVUSDC
GRVT CRV_USDT_Perp
ApeX Omni CRVUSDT
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
BloFin CRV-USDT
Coinbase International CRV-PERP-INTX
Hyperliquid CRV
GMX CRV/USD [ETH-USDC]
Backpack CRV_USDC_PERP