Funding arb · Price arb /

CRV

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0379%/8h= +41.5% APRpaid last 24h +0.070%

Price spread now: Backpack against Aster+0.105%55s7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$89as 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−$880.883% of the position

Long on Aster Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%$0 on $10k

Price spread, last 4 days (all we have)−0.423%−$42 · spread now +0.105%, 7d avg +0.006%

Together, before fees−0.428%+ Points / potential airdropAster: Stage 5 · farm board−$43 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Backpack is 0.099% dearer against Aster than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.006%. The two prices were read 55 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 -0.005% in total (about -0.3% 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	Aster CRVUSDT	0.3687	0.0100	pay 0.0100% / 8h	1h 41m	$132K	$186K	10x
Short	Backpack CRV_USDC_PERP	0.3691	0.0479	get 0.0060% / 1h	41m 08s	$108K	$362K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aster. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee AsterbpFee BackpackbpOrdersPrice spread, now +0.105%Rate

Funding earned: $79.67
Price spread: +0.105% → +0.006%: $9.86
Slippage, 4 orders: −$70.34
Fee Aster: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: $1.18
Costs to cover: 0.883%
Break-even: 6.9 days

Slippage from Aster: live order book, 40 min ago; Backpack: live order book, 42 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 Aster live order book, 40 min ago	27.47 bp	36.0 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 42 min ago	0.14 bp	13.7 bp −$14	doesn't fit	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	−0.0293%	1h	0.3680	−0.191%	$57K	$48K	25x	as long as short
Injective CRV/USDC PERP	−0.0228%	1h	0.3620	−1.818%	$78	$318K	12x	as long as short
Phoenix CRV	−0.0176%	1h	0.3688	+0.024%	$26K	$181K	10x	as long as short
Reya CRVRUSDPERP	−0.0049%	1h	0.3682	−0.145%	$16	—	15x	as long as short
dYdX CRV-USD	0.0000%	1h	0.3689	+0.056%	$38K	$4K	10x	as long as short
Kraken Futures PF_CRVUSD	+0.0027%	1h	0.3684	−0.084%	$3.1M	$3.2M	50x	as long as short
Orderly PERP_CRV_USDC	+0.0095%	8h	0.3681	−0.164%	$25K	$1K	10x	as long as short
Lighter CRV	+0.0096%	1h	0.3679	−0.204%	$416K	$702K	10x	as long as short
Aster CRVUSDTlong	+0.0100%	8h	0.3687	long leg	$132K	$186K	10x
Pacifica CRV	+0.0100%	1h	0.3689	+0.050%	$379K	$187K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CRVUSDT	+0.0100%	8h	0.3678	−0.245%	$25.8M	$57.4M	75x	as long as short
Bybit CRVUSDT	+0.0100%	8h	0.3679	−0.218%	$27.9M	$17.2M	75x	as long as short
OKX CRV-USDT-SWAP	+0.0100%	8h	0.3677	−0.272%	$8.7M	$22.3M	50x	as long as short
Gate CRV_USDT	+0.0100%	8h	0.3687	−0.001%	$2.0M	$1.3M	50x	as long as short
MEXC CRV_USDT	+0.0100%	8h	0.3677	−0.272%	$14.7M	$5.5M	125x	as long as short
KuCoin CRVUSDTM	+0.0100%	8h	0.3684	−0.082%	$7.1M	$9.1M	50x	as long as short
Bitget CRVUSDT	+0.0100%	8h	0.3684	−0.082%	$7.0M	$5.6M	75x	as long as short
BingX CRV-USDT	+0.0100%	8h	0.3684	−0.082%	—	$21.6M	—	as long as short
Variational Omni CRV	+0.0100%	8h	0.3673	−0.376%	$1.1M	$137K	—	as long as short
edgeX CRVUSDC	+0.0100%	4h	0.3685	−0.051%	$38K	$171K	20x	as long as short
GRVT CRV_USDT_Perp	+0.0100%	8h	0.3675	−0.324%	$512K	$437K	10x	as long as short
ApeX Omni CRVUSDT	+0.0100%	1h	0.3676	−0.299%	$61K	$696K	50x	as long as short
SunX CRV-USDT	+0.0100%	8h	0.3725	+1.030%	$2K	$1.3M	20x	as long as short
Extended CRV-USD	+0.0104%	1h	0.3678	−0.251%	$245K	$883K	25x	as long as short
Aevo CRV-PERP	+0.0104%	1h	0.3681	−0.166%	$19K	$9K	3x	as long as short
BloFin CRV-USDT	+0.0220%	8h	0.3682	−0.136%	$1.4M	$4.5M	75x	as long as short
Coinbase International CRV-PERP-INTX	+0.0376%	1h	0.3692	+0.135%	$388K	$4.8M	50x	as long as short
GMX CRV/USD [ETH-USDC]	L +0.0403% / S −0.0160%	1h	0.3683	−0.106%	$219K	—	100x	as long as short
Hyperliquid CRV	+0.0446%	1h	0.3690	+0.075%	$22.9M	$16.9M	10x	as long as short
Backpack CRV_USDC_PERPshort	+0.0479%	1h	0.3691	+0.105%	$108K	$362K	10x