Funding you earn now, next payment 01:00 UTC+0.0276%/8h= +30.2% APRnext payment +$0.34 per $10,000 · paid last 24h −0.115%
Price spread now: Coinbase International against Backpack+0.143%7-day average +0.027% · you sell dearer than you buy
Net, funding: paid 7d − costs−$51as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$440.442% of the position
Funding, last 7 days−0.070%−$7 on $10k
+Price spread, last 3 days (all we have)−0.187%−$19 · spread now +0.143%, 7d avg +0.027%
=Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Coinbase International is 0.116% dearer against Backpack than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.027%. Mind the row above: over the last 7 days funding on this pair cost −0.070%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.070% in total (about -3.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.34 per $10,000. 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 | Backpack CRV_USDC_PERP | 0.3637 | 0.0100 | pay 0.0013% / 1h | 9m 07s | $97K | $300K | 10x |
| Short | Coinbase International CRV-PERP-INTX | 0.3642 | 0.0376 | get 0.0047% / 1h | 9m 07s | $380K | $4.2M | 50x |
Backpack CRV_USDC_PERP
Coinbase International CRV-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Backpack. 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
- $57.96
- Price spread: +0.143% → +0.027%
- $11.65
- Slippage, 4 orders
- −$24.18
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $25.43
- Costs to cover
- 0.442%
- Break-even
- 3.9 days
Slippage from Backpack: live order book, 59 min ago; Coinbase International: live order book, 5 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 Backpack live order book, 59 min ago | 0.41 bp | 7.8 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 5 min ago | 5.49 bp | 14.8 bp −$15 | 21.0 bp −$210 | doesn't fit | doesn't fit |
CRV on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix CRV | −0.0066% | 1h | 0.3653 | +0.434% | $26K | $162K | 10x | as long as short |
| Reya CRVRUSDPERP | −0.0048% | 1h | 0.3638 | +0.044% | $16 | — | 15x | as long as short |
| Deribit CRV_USDC-PERPETUAL | −0.0025% | 1h | 0.3637 | +0.005% | $56K | $49K | 25x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3637 | +0.013% | $37K | $6K | 10x | as long as short |
| Injective CRV/USDC PERP | +0.0033% | 1h | 0.3670 | +0.913% | $79 | $384K | 12x | as long as short |
| Orderly PERP_CRV_USDC | +0.0095% | 8h | 0.3637 | +0.005% | $24K | $979 | 10x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3635 | −0.036% | $382K | $715K | 10x | as long as short |
| Hyperliquid CRV | +0.0100% | 1h | 0.3639 | +0.055% | $22.2M | $15.0M | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3637 | +0.008% | $129K | $182K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3639 | +0.059% | $369K | $198K | 10x | as long as short |
Phoenix CRV
Reya CRVRUSDPERP
Deribit CRV_USDC-PERPETUAL
dYdX CRV-USD
Injective CRV/USDC PERP
Orderly PERP_CRV_USDC
Lighter CRV
Hyperliquid CRV
Aster CRVUSDT
Pacifica CRVShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CRVUSDT | +0.0100% | 8h | 0.3636 | −0.022% | $25.0M | $55.2M | 75x | as long as short |
| Bybit CRVUSDT | +0.0100% | 8h | 0.3635 | −0.049% | $27.7M | $17.8M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3636 | −0.022% | $8.7M | $20.7M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3638 | +0.033% | $1.9M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3637 | +0.005% | $14.8M | $5.4M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3639 | +0.060% | $6.3M | $9.0M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3638 | +0.033% | $6.8M | $5.4M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3637 | +0.005% | — | $1.7M | — | as long as short |
| Backpack CRV_USDC_PERPlong | +0.0100% | 1h | 0.3637 | long leg | $97K | $300K | 10x | |
| Variational Omni CRV | +0.0100% | 8h | 0.3648 | +0.304% | $1.1M | $101K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3648 | +0.313% | $38K | $172K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3649 | +0.337% | $514K | $428K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3651 | +0.390% | $53K | $688K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3693 | +1.545% | $1K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3635 | −0.047% | $238K | $477K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3636 | −0.029% | $13K | $6K | 3x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0291% | 1h | 0.3640 | +0.100% | $3.1M | $2.7M | 50x | as long as short |
| Coinbase International CRV-PERP-INTXshort | +0.0376% | 1h | 0.3642 | +0.143% | $380K | $4.2M | 50x | |
| GMX CRV/USD [ETH-USDC] | L +0.0458% / S −0.0205% | 1h | 0.3637 | +0.002% | $232K | — | 100x | as long as short |
Binance CRVUSDT
Bybit CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDC
Variational Omni CRV
edgeX CRVUSDC
GRVT CRV_USDT_Perp
ApeX Omni CRVUSDT
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
Kraken Futures PF_CRVUSD
GMX CRV/USD [ETH-USDC]