Funding you earn now, next payment 05:00 UTC−0.0632%/8h= −69.2% APRnext payment −$0.79 per $10,000 · paid last 24h −0.112%
Price spread now: Phoenix against Kraken Futures+0.040%7-day average −0.094% · you sell dearer than you buy
Net, funding: paid 7d − costs−$138as in the Funding arb table
Net, price: spread back to 7d avg − costs−$52as in the Price arb table
costs, in and out, $10k−$660.657% of the position
Funding, last 7 days−0.725%−$73 on $10k
+Price spread, last 4 days (all we have)−0.256%−$26 · spread now +0.040%, 7d avg −0.094%
=The price spread pays, funding is against you. Phoenix is 0.134% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.040% now, against its 7-day average of −0.094%): +$13 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 17 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_CRVUSD | 0.3593 | 0.0677 | pay 0.0085% / 1h | 1m 15s | $3.0M | $2.7M | 50x |
| Short | Phoenix CRV | 0.3595 | 0.0045 | get 0.0006% / 1h | 1m 15s | $26K | $177K | 10x |
Kraken Futures PF_CRVUSD
Phoenix CRVFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Kraken Futures. 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
- −$132.78
- Price spread: +0.040% → −0.094%
- $13.41
- Slippage, 4 orders
- −$48.73
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$185.1
- Costs to cover
- 0.657%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 2 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 Kraken Futures live order book, 2 min ago | 5.56 bp | 15.6 bp −$16 | 43.7 bp −$437 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 40 min ago | 1.41 bp | 17.2 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya CRVRUSDPERP | −0.0048% | 1h | 0.3590 | −0.094% | $15 | — | 15x | as long as short |
| Deribit CRV_USDC-PERPETUAL | −0.0029% | 1h | 0.3589 | −0.119% | $54K | $45K | 25x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3600 | +0.191% | $37K | $8K | 10x | as long as short |
| Backpack CRV_USDC_PERP | +0.0015% | 1h | 0.3592 | −0.049% | $94K | $214K | 10x | as long as short |
| Injective CRV/USDC PERP | +0.0033% | 1h | 0.3670 | +2.135% | $79 | $384K | 12x | as long as short |
| Phoenix CRVshort | +0.0045% | 1h | 0.3595 | +0.040% | $26K | $177K | 10x | |
| Variational Omni CRV | +0.0078% | 8h | 0.3604 | +0.295% | $1.1M | $95K | — | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3589 | −0.122% | $379K | $712K | 10x | as long as short |
| Hyperliquid CRV | +0.0100% | 1h | 0.3592 | −0.030% | $21.1M | $16.5M | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3591 | −0.059% | $113K | $193K | 10x | as long as short |
Reya CRVRUSDPERP
Deribit CRV_USDC-PERPETUAL
dYdX CRV-USD
Backpack CRV_USDC_PERP
Injective CRV/USDC PERP
Variational Omni CRV
Lighter CRV
Hyperliquid CRV
Aster CRVUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica CRV | +0.0100% | 1h | 0.3592 | −0.048% | $364K | $198K | 10x | as long as short |
| Binance CRVUSDT | +0.0100% | 8h | 0.3589 | −0.117% | $24.8M | $56.9M | 75x | as long as short |
| Bybit CRVUSDT | +0.0100% | 8h | 0.3586 | −0.202% | $27.1M | $19.4M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3590 | −0.091% | $8.7M | $20.5M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3592 | −0.035% | $1.9M | $1.4M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3590 | −0.091% | $12.6M | $5.7M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3593 | −0.008% | $6.0M | $8.3M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3592 | −0.035% | $6.7M | $5.3M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3590 | −0.091% | — | $1.6M | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3594 | +0.022% | $37K | $174K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3596 | +0.083% | $509K | $445K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3607 | +0.382% | $53K | $681K | 50x | as long as short |
| Orderly PERP_CRV_USDC | +0.0100% | 8h | 0.3590 | −0.091% | $24K | $902 | 10x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3670 | +2.135% | $1K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3589 | −0.108% | $253K | $499K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3589 | −0.105% | $13K | $6K | 3x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3594 | +0.020% | $1.3M | $3.9M | 75x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0415% / S −0.0177% | 1h | 0.3590 | −0.090% | $210K | — | 100x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0432% | 1h | 0.3594 | +0.020% | $356K | $4.4M | 50x | as long as short |
| Kraken Futures PF_CRVUSDlong | +0.0677% | 1h | 0.3593 | long leg | $3.0M | $2.7M | 50x |
Pacifica CRV
Binance CRVUSDT
Bybit CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDC
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
GMX CRV/USD [ETH-USDC]
Coinbase International CRV-PERP-INTX