Funding you earn now, next payment 10:00 UTC−0.0471%/8h= −51.6% APRpaid last 24h −0.043%
Price spread now: Phoenix against Gate−0.303%7-day average −0.066% · you buy dearer than you sell
Net, funding: paid 7d − costs−$197as in the Funding arb table
Net, price: spread back to 7d avg − costs−$201as in the Price arb table
costs, in and out, $10k−$1771.772% of the position
Funding, last 7 days−0.201%−$20 on $10k
+Price spread, last 4 days (all we have)+0.394%+$39 · spread now −0.303%, 7d avg −0.066%
=Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Phoenix is 0.237% cheaper against Gate than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of −0.066%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.201% in total (about -10.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate CBRS_USDT | 208.20 | 0.0355 | pay 0.0355% / 8h | 5h 48m | $2.9M | $3.3M | 50x |
| Short | Phoenix CBRS | 207.57 | −0.0116 | pay 0.0014% / 1h | 48m 47s | $1K | $109K | 10x |
Gate CBRS_USDT
Phoenix CBRSFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Gate. 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
- −$98.89
- Price spread: −0.303% → −0.066%
- −$23.67
- Slippage, 4 orders
- −$155.16
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$299.72
- Costs to cover
- 1.772%
- Break-even
- never at this rate
Slippage from Gate: live order book, 2 min ago; Phoenix: live order book, 55 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 Gate live order book, 2 min ago | 2.40 bp | 29.1 bp −$29 | 37.8 bp −$378 | 51.5 bp −$5,152 | doesn't fit |
| Sell Phoenix live order book, 55 min ago | 15.55 bp | 65.6 bp −$66 | 227.4 bp −$2,274 | doesn't fit | doesn't fit |
CBRS on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix CBRSshort | −0.0116% | 1h | 207.57 | −0.303% | $1K | $109K | 10x | |
| QFEX CBRS-USD | −0.0009% | 1h | 207.82 | −0.183% | $1.1M | $3.0M | 10x | as long as short |
| Aster CBRSUSDT | 0.0000% | 8h | 207.66 | −0.259% | $66K | $148K | 20x | as long as short |
| Bybit CBRSUSDT | 0.0000% | 8h | 208.10 | −0.048% | $2.1M | $2.2M | 25x | as long as short |
| OKX CBRS-USDT-SWAP | 0.0000% | 8h | 208.13 | −0.034% | $2.2M | $3.4M | 25x | as long as short |
| Bitget CBRSUSDT | 0.0000% | 8h | 207.98 | −0.106% | $2.3M | $2.8M | 20x | as long as short |
| SunX CBRS-USDT | 0.0000% | 8h | 208.43 | +0.110% | $1K | $2.5M | 10x | as long as short |
| HTX CBRS-USDT | 0.0000% | 8h | 207.77 | −0.207% | $9K | $10K | 20x | as long as short |
| Variational Omni CBRS | +0.0010% | 8h | 207.74 | −0.222% | $398K | $101K | — | as long as short |
| Vest CBRS-USD-PERP | +0.0020% | 1h | 208.26 | +0.029% | — | $105K | 10x | as long as short |
QFEX CBRS-USD
Aster CBRSUSDT
Bybit CBRSUSDT
OKX CBRS-USDT-SWAP
Bitget CBRSUSDT
SunX CBRS-USDT
HTX CBRS-USDT
Variational Omni CBRS
Vest CBRS-USD-PERPShow all 26 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter CBRS | +0.0032% | 1h | 207.92 | −0.134% | $91K | $1.2M | 10x | as long as short |
| tradeXYZ xyz:CBRS | +0.0047% | 1h | 207.79 | −0.197% | $42.6M | $4.1M | 10x | as long as short |
| Polymarket Perps CBRS-USD | +0.0050% | 1h | 207.70 | −0.240% | $51K | $464K | 10x | as long as short |
| Ondo Perps CBRS-USD.P | +0.0050% | 1h | 208.02 | −0.086% | $329K | $730K | 10x | as long as short |
| BloFin CBRS-USDT | +0.0051% | 8h | 208.19 | −0.005% | $150K | $74K | 20x | as long as short |
| Binance CBRSUSDT | +0.0068% | 8h | 207.98 | −0.106% | $10.2M | $32.9M | 25x | as long as short |
| Extended CBRS_24_5-USD | +0.0072% | 1h | 207.97 | −0.110% | $44K | $386K | 10x | as long as short |
| Orderly PERP_CBRS_USDC_mythos | +0.0100% | 8h | 208.08 | −0.058% | $823 | $2K | 10x | as long as short |
| KuCoin CBRSUSDTM | +0.0100% | 8h | 207.79 | −0.197% | $113K | $263K | 20x | as long as short |
| ApeX Omni CBRSUSDT | +0.0100% | 1h | 207.34 | −0.413% | $24K | $139K | 50x | as long as short |
| Aevo CBRS-PERP | +0.0104% | 1h | 207.88 | −0.154% | $241 | — | 10x | as long as short |
| Coinbase International CBRS-PERP-INTX | +0.0320% | 1h | 210.27 | +0.994% | $115K | $107K | 10x | as long as short |
| Gate CBRS_USDTlong | +0.0355% | 8h | 208.20 | long leg | $2.9M | $3.3M | 50x | |
| Deribit CBRS_USDC-PERPETUAL | +0.0519% | 1h | 208.12 | −0.038% | $12K | $5K | 10x | as long as short |
| GRVT CBRS_USDT_Perp | +0.0521% | 8h | 207.67 | −0.255% | $719 | $227K | 10x | as long as short |
| edgeX CBRSUSDC | +0.0936% | 4h | 207.70 | −0.241% | $23K | $222K | 10x | as long as short |
Lighter CBRS
tradeXYZ xyz:CBRS
Polymarket Perps CBRS-USD
Ondo Perps CBRS-USD.P
BloFin CBRS-USDT
Binance CBRSUSDT
Extended CBRS_24_5-USD
Orderly PERP_CBRS_USDC_mythos
KuCoin CBRSUSDTM
ApeX Omni CBRSUSDT
Aevo CBRS-PERP
Coinbase International CBRS-PERP-INTX
Deribit CBRS_USDC-PERPETUAL
GRVT CBRS_USDT_Perp
edgeX CBRSUSDC