Funding you earn now, next payment 23:00 UTC+0.0050%/8h= +5.5% APRnext payment +$0.06 per $10,000 · paid last 24h +0.051%
Price spread now: Polymarket Perps against Phoenix−0.076%59s7-day average −0.015% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1401.404% of the position
Funding, last 5 days (all we have)+0.225%+$23 on $10k
+Price spread, last 3 days (all we have)−0.156%−$16 · spread now −0.076%, 7d avg −0.015%
=Funding pays, the price is against you. Polymarket Perps is 0.062% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.076% now, against its 7-day average of −0.015%). If the spread goes back, that is −$6 on $10k: about 4.1 days of funding at the current rate (+$2 a day). At the pace of the last 5 days (+0.225% in total) that is about 35 hours. The two prices were read 59 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 | 209.36 | 0 | get 0.0000% / 1h | 39m 55s | $1K | $111K | 10x |
| Short | Polymarket Perps CBRS-USD | 209.20 | 0.0050 | get 0.0006% / 1h | 39m 55s | $48K | $1.1M | 10x |
Phoenix CBRS
Polymarket Perps CBRS-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps 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
- $10.5
- Price spread: −0.076% → −0.015%
- −$6.15
- Slippage, 4 orders
- −$125.39
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$136.04
- Costs to cover
- 1.404%
- Break-even
- 97.7 days
Slippage from Phoenix: live order book, 30 min ago; Polymarket Perps: 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, 30 min ago | 15.30 bp | 61.1 bp −$61 | 235.4 bp −$2,354 | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 3 min ago | 3.11 bp | 7.1 bp −$7 | 7.3 bp −$73 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster CBRSUSDT | 0.0000% | 8h | 209.27 | −0.043% | $66K | $147K | 20x | as long as short |
| Bybit CBRSUSDT | 0.0000% | 8h | 209.46 | +0.048% | $2.0M | $1.9M | 25x | as long as short |
| OKX CBRS-USDT-SWAP | 0.0000% | 8h | 209.44 | +0.038% | $2.2M | $3.6M | 25x | as long as short |
| Bitget CBRSUSDT | 0.0000% | 8h | 209.37 | +0.005% | $2.4M | $2.8M | 20x | as long as short |
| Phoenix CBRSlong | 0.0000% | 1h | 209.36 | long leg | $1K | $111K | 10x | |
| SunX CBRS-USDT | 0.0000% | 8h | 209.61 | +0.119% | $1K | $3.3M | 10x | as long as short |
| Deribit CBRS_USDC-PERPETUAL | 0.0000% | 1h | 209.36 | 0.000% | $12K | $4K | 10x | as long as short |
| HTX CBRS-USDT | 0.0000% | 8h | 209.44 | +0.038% | $9K | $6K | 20x | as long as short |
| Gate CBRS_USDT | +0.0005% | 8h | 209.50 | +0.067% | $2.9M | $3.0M | 50x | as long as short |
| tradeXYZ xyz:CBRS | +0.0009% | 1h | 209.18 | −0.086% | $42.8M | $3.6M | 10x | as long as short |
Aster CBRSUSDT
Bybit CBRSUSDT
OKX CBRS-USDT-SWAP
Bitget CBRSUSDT
SunX CBRS-USDT
Deribit CBRS_USDC-PERPETUAL
HTX CBRS-USDT
Gate CBRS_USDT
tradeXYZ xyz:CBRSShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International CBRS-PERP-INTX | +0.0016% | 1h | 208.44 | −0.439% | $114K | $114K | 10x | as long as short |
| Vest CBRS-USD-PERP | +0.0016% | 1h | 208.95 | −0.196% | — | $94K | 10x | as long as short |
| QFEX CBRS-USD | +0.0021% | 1h | 209.33 | −0.014% | $1.1M | $3.4M | 10x | as long as short |
| Polymarket Perps CBRS-USDshort | +0.0050% | 1h | 209.20 | −0.076% | $48K | $1.1M | 10x | |
| Ondo Perps CBRS-USD.P | +0.0050% | 1h | 209.28 | −0.038% | $347K | $914K | 10x | as long as short |
| KuCoin CBRSUSDTM | +0.0100% | 8h | 209.18 | −0.086% | $143K | $92K | 20x | as long as short |
| ApeX Omni CBRSUSDT | +0.0100% | 1h | 209.07 | −0.139% | $24K | $136K | 50x | as long as short |
| Orderly PERP_CBRS_USDC_mythos | +0.0100% | 8h | 209.34 | −0.010% | $860 | $1K | 10x | as long as short |
| Aevo CBRS-PERP | +0.0104% | 1h | 209.35 | −0.004% | $243 | — | 10x | as long as short |
| edgeX CBRSUSDC | +0.0120% | 4h | 209.37 | +0.003% | $24K | $222K | 10x | as long as short |
| Lighter CBRS | +0.0168% | 1h | 209.48 | +0.057% | $90K | $867K | 10x | as long as short |
| Variational Omni CBRS | +0.0420% | 8h | 209.38 | +0.011% | $423K | $321K | — | as long as short |
| Extended CBRS_24_5-USD | +0.0456% | 1h | 209.32 | −0.018% | $43K | $246K | 10x | as long as short |
| BloFin CBRS-USDT | +0.0458% | 8h | 209.45 | +0.043% | $146K | $70K | 20x | as long as short |
| Binance CBRSUSDT | +0.0459% | 8h | 209.36 | 0.000% | $10.3M | $30.0M | 25x | as long as short |
| GRVT CBRS_USDT_Perp | +0.0565% | 8h | 209.40 | +0.019% | $599 | $224K | 10x | as long as short |
Coinbase International CBRS-PERP-INTX
Vest CBRS-USD-PERP
QFEX CBRS-USD
Ondo Perps CBRS-USD.P
KuCoin CBRSUSDTM
ApeX Omni CBRSUSDT
Orderly PERP_CBRS_USDC_mythos
Aevo CBRS-PERP
edgeX CBRSUSDC
Lighter CBRS
Variational Omni CBRS
Extended CBRS_24_5-USD
BloFin CBRS-USDT
Binance CBRSUSDT
GRVT CBRS_USDT_Perp