Funding you earn now, next payment 01:00 UTC−0.0336%/8h= −36.8% APRnext payment −$0.42 per $10,000 · paid last 24h −0.054%
Price spread now: GMX against Backpack−0.054%7-day average −0.012% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)0.000%$0 on $10k
+Price spread, last 3 days (all we have)+0.054%+$5 · spread now −0.054%, 7d avg −0.012%
=Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and GMX is 0.043% cheaper against Backpack than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.012%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.000% in total (about 0.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.42 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 | 0.3656 | 0.0531 | pay 0.0066% / 1h | 42m 42s | $103K | $280K | 10x |
| Short | GMX CRV/USD [ETH-USDC] | 0.3654 | L +0.0446% / S −0.0194% | get 0.0024% / 1h | 42m 42s | $232K | — | 100x |
Backpack CRV_USDC_PERP
GMX CRV/USD [ETH-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX 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
- −$70.64
- Price spread: −0.054% → −0.012%
- −$4.26
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- −$96.9
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: Backpack: live order book, 31 min ago; GMX: no order-book sample. Net counts fees only.
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, 31 min ago | 0.96 bp | 7.6 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell GMX no order-book sample | — | — | — | — | — |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni CRVUSDT | −0.0164% | 1h | 0.3650 | −0.161% | $60K | $696K | 50x | as long as short |
| Phoenix CRV | −0.0087% | 1h | 0.3650 | −0.148% | $26K | $168K | 10x | as long as short |
| Reya CRVRUSDPERP | −0.0048% | 1h | 0.3650 | −0.149% | $16 | — | 15x | as long as short |
| Deribit CRV_USDC-PERPETUAL | −0.0024% | 1h | 0.3653 | −0.079% | $56K | $50K | 25x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3651 | −0.123% | $38K | $5K | 10x | as long as short |
| Injective CRV/USDC PERP | +0.0033% | 1h | 0.3670 | +0.386% | $79 | $384K | 12x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0088% | 1h | 0.3657 | +0.034% | $3.1M | $2.9M | 50x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3650 | −0.164% | $408K | $725K | 10x | as long as short |
| Orderly PERP_CRV_USDC | +0.0096% | 8h | 0.3653 | −0.079% | $24K | $929 | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3652 | −0.106% | $130K | $182K | 10x | as long as short |
ApeX Omni CRVUSDT
Phoenix CRV
Reya CRVRUSDPERP
Deribit CRV_USDC-PERPETUAL
dYdX CRV-USD
Injective CRV/USDC PERP
Kraken Futures PF_CRVUSD
Lighter CRV
Orderly PERP_CRV_USDC
Aster CRVUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica CRV | +0.0100% | 1h | 0.3650 | −0.175% | $368K | $208K | 10x | as long as short |
| Binance CRVUSDT | +0.0100% | 8h | 0.3649 | −0.189% | $25.5M | $56.2M | 75x | as long as short |
| Bybit CRVUSDT | +0.0100% | 8h | 0.3649 | −0.189% | $27.7M | $17.5M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3647 | −0.243% | $8.7M | $21.5M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3651 | −0.134% | $1.9M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3648 | −0.216% | $15.0M | $5.2M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3652 | −0.107% | $6.6M | $9.3M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3652 | −0.107% | $6.9M | $5.6M | 75x | as long as short |
| BingX CRV-USDT | +0.0100% | 8h | 0.3649 | −0.189% | — | $23.6M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3645 | −0.300% | $1.1M | $111K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3649 | −0.185% | $38K | $174K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3651 | −0.147% | $511K | $405K | 10x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3688 | +0.878% | $1K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3648 | −0.210% | $245K | $917K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3653 | −0.066% | $13K | $6K | 3x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3652 | −0.107% | $1.4M | $4.4M | 75x | as long as short |
| Hyperliquid CRV | +0.0274% | 1h | 0.3656 | −0.008% | $22.6M | $16.6M | 10x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0384% | 1h | 0.3656 | +0.003% | $382K | $4.7M | 50x | as long as short |
| GMX CRV/USD [ETH-USDC]short | L +0.0446% / S −0.0194% | 1h | 0.3654 | −0.054% | $232K | — | 100x | |
| Backpack CRV_USDC_PERPlong | +0.0531% | 1h | 0.3656 | long leg | $103K | $280K | 10x |
Pacifica CRV
Binance CRVUSDT
Bybit CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDT
Variational Omni CRV
edgeX CRVUSDC
GRVT CRV_USDT_Perp
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
BloFin CRV-USDT
Hyperliquid CRV
Coinbase International CRV-PERP-INTX