Funding you earn now, next payment 04:00 UTC−0.0038%/8h= −4.2% APRpaid last 24h +0.004%
Price spread now: OKX against Phoenix−0.100%96s7-day average +0.036% · you buy dearer than you sell
Net, funding: paid 7d − costs−$113as 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−$1211.210% of the position
Funding, last 7 days+0.076%+$8 on $10k
+Price spread, last 4 days (all we have)−0.019%−$2 · spread now −0.100%, 7d avg +0.036%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.136% cheaper against Phoenix than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.036%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.076%, so the current rate has only just turned against you. The two prices were read 96 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 CBRS | 209.06 | 0.0038 | pay 0.0005% / 1h | 43m 52s | $1K | $108K | 10x |
| Short | OKX CBRS-USDT-SWAP | 208.85 | 0 | get 0.0000% / 8h | 3h 43m | $2.2M | $3.5M | 25x |
Phoenix CBRS
OKX CBRS-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$8.03
- Price spread: −0.100% → +0.036%
- −$13.61
- Slippage, 4 orders
- −$104.04
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$142.68
- Costs to cover
- 1.210%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 1 min ago; OKX: live order book, 3 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, 1 min ago | 10.55 bp | 38.8 bp −$39 | 112.5 bp −$1,125 | doesn't fit | doesn't fit |
| Sell OKX live order book, 3 min ago | 2.39 bp | 18.2 bp −$18 | 59.7 bp −$597 | doesn't fit | doesn't fit |
CBRS on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:CBRS | −0.0349% | 1h | 208.56 | −0.239% | $42.7M | $3.6M | 10x | as long as short |
| Aster CBRSUSDT | 0.0000% | 8h | 208.73 | −0.158% | $66K | $147K | 20x | as long as short |
| OKX CBRS-USDT-SWAPshort | 0.0000% | 8h | 208.85 | −0.100% | $2.2M | $3.5M | 25x | |
| Bitget CBRSUSDT | 0.0000% | 8h | 208.78 | −0.134% | $2.4M | $2.7M | 20x | as long as short |
| SunX CBRS-USDT | 0.0000% | 8h | 209.04 | −0.010% | $769 | $3.0M | 10x | as long as short |
| HTX CBRS-USDT | 0.0000% | 8h | 208.83 | −0.110% | $9K | $10K | 20x | as long as short |
| Vest CBRS-USD-PERP | +0.0022% | 1h | 208.43 | −0.301% | — | $94K | 10x | as long as short |
| Lighter CBRS | +0.0032% | 1h | 208.65 | −0.196% | $90K | $840K | 10x | as long as short |
| Deribit CBRS_USDC-PERPETUAL | +0.0038% | 1h | 208.74 | −0.153% | $12K | $5K | 10x | as long as short |
| Phoenix CBRSlong | +0.0038% | 1h | 209.06 | long leg | $1K | $108K | 10x |
tradeXYZ xyz:CBRS
Aster CBRSUSDT
Bitget CBRSUSDT
SunX CBRS-USDT
HTX CBRS-USDT
Vest CBRS-USD-PERP
Lighter CBRS
Deribit CBRS_USDC-PERPETUALShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps CBRS-USD | +0.0050% | 1h | 208.60 | −0.220% | $53K | $1.1M | 10x | as long as short |
| GRVT CBRS_USDT_Perp | +0.0052% | 8h | 208.97 | −0.042% | $619 | $209K | 10x | as long as short |
| QFEX CBRS-USD | +0.0063% | 1h | 208.75 | −0.148% | $1.1M | $3.1M | 10x | as long as short |
| KuCoin CBRSUSDTM | +0.0100% | 8h | 208.75 | −0.148% | $114K | $113K | 20x | as long as short |
| ApeX Omni CBRSUSDT | +0.0100% | 1h | 208.99 | −0.033% | $24K | $141K | 50x | as long as short |
| Orderly PERP_CBRS_USDC_mythos | +0.0100% | 8h | 208.76 | −0.143% | $826 | $1K | 10x | as long as short |
| Aevo CBRS-PERP | +0.0104% | 1h | 208.80 | −0.126% | $242 | — | 10x | as long as short |
| Ondo Perps CBRS-USD.P | +0.0106% | 1h | 208.91 | −0.072% | $339K | $719K | 10x | as long as short |
| Variational Omni CBRS | +0.0107% | 8h | 208.90 | −0.077% | $421K | $89K | — | as long as short |
| Binance CBRSUSDT | +0.0167% | 8h | 208.78 | −0.133% | $10.1M | $29.5M | 25x | as long as short |
| Extended CBRS_24_5-USD | +0.0168% | 1h | 208.72 | −0.164% | $49K | $263K | 10x | as long as short |
| BloFin CBRS-USDT | +0.0180% | 8h | 208.95 | −0.053% | $148K | $69K | 20x | as long as short |
| Coinbase International CBRS-PERP-INTX | +0.0288% | 1h | 210.27 | +0.579% | $115K | $116K | 10x | as long as short |
| Bybit CBRSUSDT | +0.0377% | 8h | 208.89 | −0.081% | $2.1M | $2.0M | 25x | as long as short |
| Gate CBRS_USDT | +0.0395% | 8h | 208.90 | −0.077% | $2.9M | $2.9M | 50x | as long as short |
| edgeX CBRSUSDC | +0.0746% | 4h | 208.95 | −0.053% | $24K | $221K | 10x | as long as short |
Polymarket Perps CBRS-USD
GRVT CBRS_USDT_Perp
QFEX CBRS-USD
KuCoin CBRSUSDTM
ApeX Omni CBRSUSDT
Orderly PERP_CBRS_USDC_mythos
Aevo CBRS-PERP
Ondo Perps CBRS-USD.P
Variational Omni CBRS
Binance CBRSUSDT
Extended CBRS_24_5-USD
BloFin CBRS-USDT
Coinbase International CBRS-PERP-INTX
Bybit CBRSUSDT
Gate CBRS_USDT
edgeX CBRSUSDC