Funding you earn now, next payment 22:00 UTC+0.0272%/8h= +29.8% APRnext payment +$0.34 per $10,000 · paid last 24h +0.065%
Price spread now: Lighter against Phoenix+0.262%104s7-day average +0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs+$9as 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−$390.392% of the position
Funding, last 7 days+0.484%+$48 on $10k
+Price spread, last 3 days (all we have)−0.623%−$62 · spread now +0.262%, 7d avg +0.009%
=Together, before fees−0.139%+ Points / potential airdropLighter: Season 3 · farm board−$14 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Lighter is 0.253% dearer against Phoenix than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of +0.009%. The two prices were read 104 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 | Phoenix CRV | 0.3668 | −0.0176 | get 0.0022% / 1h | 7m 50s | $26K | $181K | 10x |
| Short | Lighter CRV | 0.3678 | 0.0096 | get 0.0012% / 1h | 7m 50s | $416K | $707K | 10x |
Phoenix CRV
Lighter CRVFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Phoenix. 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
- $57.15
- Price spread: +0.262% → +0.009%
- $25.31
- Slippage, 4 orders
- −$32.2
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $43.26
- Costs to cover
- 0.392%
- Break-even
- 1.7 days
Slippage from Phoenix: live order book, 4 min ago; Lighter: live order book, 7 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 Phoenix live order book, 4 min ago | 1.09 bp | 14.0 bp −$14 | 58.0 bp −$580 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 7 min ago | 3.14 bp | 6.8 bp −$7 | 40.2 bp −$402 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit CRV_USDC-PERPETUAL | −0.0294% | 1h | 0.3672 | +0.106% | $57K | $49K | 25x | as long as short |
| Injective CRV/USDC PERP | −0.0228% | 1h | 0.3670 | +0.052% | $79 | $384K | 12x | as long as short |
| Phoenix CRVlong | −0.0176% | 1h | 0.3668 | long leg | $26K | $181K | 10x | |
| Reya CRVRUSDPERP | −0.0049% | 1h | 0.3671 | +0.079% | $16 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3679 | +0.304% | $38K | $4K | 10x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0027% | 1h | 0.3678 | +0.258% | $3.1M | $3.0M | 50x | as long as short |
| Orderly PERP_CRV_USDC | +0.0096% | 8h | 0.3674 | +0.161% | $24K | $929 | 10x | as long as short |
| Lighter CRVshort | +0.0096% | 1h | 0.3678 | +0.262% | $416K | $707K | 10x | |
| Aster CRVUSDT | +0.0100% | 8h | 0.3677 | +0.247% | $131K | $186K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3678 | +0.270% | $370K | $208K | 10x | as long as short |
Deribit CRV_USDC-PERPETUAL
Injective CRV/USDC PERP
Reya CRVRUSDPERP
dYdX CRV-USD
Kraken Futures PF_CRVUSD
Orderly PERP_CRV_USDC
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 | 0.3677 | +0.241% | $25.8M | $56.4M | 75x | as long as short |
| Bybit CRVUSDT | +0.0100% | 8h | 0.3675 | +0.188% | $28.1M | $17.1M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3677 | +0.243% | $8.8M | $21.7M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3676 | +0.215% | $2.0M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3674 | +0.161% | $14.6M | $5.5M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3677 | +0.243% | $7.2M | $9.0M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3679 | +0.297% | $6.9M | $5.6M | 75x | as long as short |
| BingX CRV-USDT | +0.0100% | 8h | 0.3674 | +0.161% | — | $21.6M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3656 | −0.330% | $1.1M | $124K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3658 | −0.277% | $38K | $172K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3668 | +0.010% | $519K | $427K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3663 | −0.139% | $60K | $696K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3699 | +0.842% | $2K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3674 | +0.154% | $243K | $881K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3674 | +0.167% | $19K | $9K | 3x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3674 | +0.161% | $1.4M | $4.2M | 75x | as long as short |
| Hyperliquid CRV | +0.0358% | 1h | 0.3681 | +0.365% | $22.8M | $16.3M | 10x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0376% | 1h | 0.3673 | +0.134% | $382K | $4.7M | 50x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0403% / S −0.0160% | 1h | 0.3674 | +0.170% | $218K | — | 100x | as long as short |
| Backpack CRV_USDC_PERP | +0.0499% | 1h | 0.3678 | +0.256% | $108K | $369K | 10x | as long as short |
Binance CRVUSDT
Bybit CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDT
Variational Omni CRV
edgeX CRVUSDC
GRVT CRV_USDT_Perp
ApeX Omni CRVUSDT
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
BloFin CRV-USDT
Hyperliquid CRV
Coinbase International CRV-PERP-INTX
GMX CRV/USD [ETH-USDC]
Backpack CRV_USDC_PERP