Funding you earn now, next payment 06:00 UTC−0.0286%/8h= −31.4% APRpaid last 24h −0.073%
Price spread now: Bitget against Phoenix+0.148%59s7-day average −0.071% · you sell dearer than you buy
Net, funding: paid 7d − costs−$115as 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−$970.966% of the position
Funding, last 7 days−0.188%−$19 on $10k
+Price spread, last 4 days (all we have)−0.048%−$5 · spread now +0.148%, 7d avg −0.071%
=The price spread pays, funding is against you. Bitget is 0.219% dearer against Phoenix than usual: you sell high and buy low (spread +0.148% now, against its 7-day average of −0.071%): +$22 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 2.5 days. At the pace of the last 7 days (−0.188% in total) that is about 8.1 days. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.188% in total (about -9.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix CRWD | 250.44 | 0.0286 | pay 0.0036% / 1h | 16m 28s | $3 | $106K | 10x |
| Short | Bitget CRWDUSDT | 250.81 | 0 | get 0.0000% / 8h | 1h 16m | $313K | $436K | 20x |
Phoenix CRWD
Bitget CRWDUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- −$60.16
- Price spread: +0.148% → −0.071%
- $21.9
- Slippage, 4 orders
- −$77.59
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$134.85
- Costs to cover
- 0.966%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 18 min ago; Bitget: live order book, 23 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, 18 min ago | 2.79 bp | 16.0 bp −$16 | 62.5 bp −$625 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 23 min ago | 18.14 bp | 36.2 bp −$36 | 71.7 bp −$717 | doesn't fit | doesn't fit |
CRWD on 18 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective CRWD/USDC PERP | −0.0220% | 1h | 244.15 | −2.512% | $21K | $20K | 12x | as long as short |
| BloFin CRWD-USDT | −0.0005% | 8h | 250.27 | −0.068% | $72K | $24K | 25x | as long as short |
| Aster CRWDUSDT | 0.0000% | 8h | 250.21 | −0.093% | $4K | $35K | 20x | as long as short |
| Binance CRWDUSDT | 0.0000% | 8h | 250.45 | +0.004% | $2.5M | $7.1M | 25x | as long as short |
| Bybit CRWDUSDT | 0.0000% | 8h | 250.15 | −0.116% | $1.1M | $487K | 25x | as long as short |
| OKX CRWD-USDT-SWAP | 0.0000% | 8h | 250.06 | −0.152% | $592K | $701K | 25x | as long as short |
| Bitget CRWDUSDTshort | 0.0000% | 8h | 250.81 | +0.148% | $313K | $436K | 20x | |
| Variational Omni CRWD | 0.0000% | 8h | 250.38 | −0.025% | $67K | $60K | — | as long as short |
| SunX CRWD-USDT | 0.0000% | 8h | 250.46 | +0.008% | $2K | $1.1M | 10x | as long as short |
| HTX CRWD-USDT | 0.0000% | 8h | 250.59 | +0.060% | $6K | $7K | 20x | as long as short |
Injective CRWD/USDC PERP
BloFin CRWD-USDT
Aster CRWDUSDT
Binance CRWDUSDT
Bybit CRWDUSDT
OKX CRWD-USDT-SWAP
Variational Omni CRWD
SunX CRWD-USDT
HTX CRWD-USDTShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex CRWDUSDT | 0.0000% | 8h | 250.41 | −0.012% | $1.5M | $211K | 10x | as long as short |
| Extended CRWD_24_5-USD | +0.0048% | 1h | 250.44 | 0.000% | $100K | — | 10x | as long as short |
| tradeXYZ xyz:CRWD | +0.0050% | 1h | 250.17 | −0.108% | $891K | $676K | 10x | as long as short |
| GRVT CRWD_USDT_Perp | +0.0054% | 8h | 250.40 | −0.016% | $608 | $125K | 10x | as long as short |
| QFEX CRWD-USD | +0.0064% | 1h | 250.30 | −0.056% | $1.2M | $2.7M | 10x | as long as short |
| KuCoin CRWDUSDTM | +0.0100% | 8h | 250.21 | −0.092% | $34K | $248K | 20x | as long as short |
| Phoenix CRWDlong | +0.0286% | 1h | 250.44 | long leg | $3 | $106K | 10x | |
| Paragon para:CRWD | +0.0386% | 1h | 250.06 | −0.152% | $84K | $108K | 10x | as long as short |
Phemex CRWDUSDT
Extended CRWD_24_5-USD
tradeXYZ xyz:CRWD
GRVT CRWD_USDT_Perp
QFEX CRWD-USD
KuCoin CRWDUSDTM
Paragon para:CRWD