Funding you earn now, next payment 22:00 UTC−0.0570%/8h= −62.4% APRnext payment −$0.71 per $10,000 · paid last 24h −0.084%
Price spread now: Injective against Backpack+0.025%72s7-day average −0.254% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.071%−$7 on $10k
+Price spread, last 3 days (all we have)−0.726%−$73 · spread now +0.025%, 7d avg −0.254%
=The price spread pays, funding is against you. Injective is 0.279% dearer against Backpack than usual: you sell high and buy low (spread +0.025% now, against its 7-day average of −0.254%): +$28 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 39 hours. At the pace of the last 7 days (−0.071% in total) that is about 27 days. The two prices were read 72 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 -0.071% in total (about -3.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.71 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 | 0.3629 | 0.0468 | pay 0.0058% / 1h | 15m 24s | $104K | $362K | 10x |
| Short | Injective CRV/USDC PERP | 0.3630 | −0.0103 | pay 0.0013% / 1h | 15m 24s | $78 | $265K | 12x |
Backpack CRV_USDC_PERP
Injective CRV/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$119.77
- Price spread: +0.025% → −0.254%
- $27.88
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$101.9
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Backpack: live order book, 8 min ago; Injective: 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, 8 min ago | 0.14 bp | 7.2 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit CRV_USDC-PERPETUAL | −0.0852% | 1h | 0.3626 | −0.085% | $56K | $48K | 25x | as long as short |
| Injective CRV/USDC PERPshort | −0.0103% | 1h | 0.3630 | +0.025% | $78 | $265K | 12x | |
| Reya CRVRUSDPERP | −0.0049% | 1h | 0.3636 | +0.192% | $16 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3632 | +0.075% | $37K | $4K | 10x | as long as short |
| Phoenix CRV | 0.0000% | 1h | 0.3637 | +0.212% | $26K | $193K | 10x | as long as short |
| Orderly PERP_CRV_USDC | +0.0095% | 8h | 0.3628 | −0.030% | $24K | $701 | 10x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3633 | +0.096% | $413K | $702K | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3636 | +0.189% | $130K | $186K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3634 | +0.124% | $374K | $173K | 10x | as long as short |
| Binance CRVUSDT | +0.0100% | 8h | 0.3637 | +0.218% | $25.4M | $58.2M | 75x | as long as short |
Deribit CRV_USDC-PERPETUAL
Reya CRVRUSDPERP
dYdX CRV-USD
Phoenix CRV
Orderly PERP_CRV_USDC
Lighter CRV
Aster CRVUSDT
Pacifica CRV
Binance CRVUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit CRVUSDT | +0.0100% | 8h | 0.3637 | +0.218% | $27.7M | $17.3M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3634 | +0.135% | $8.6M | $22.5M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3637 | +0.218% | $2.0M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3636 | +0.190% | $14.5M | $5.7M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3638 | +0.245% | $7.0M | $9.2M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3638 | +0.245% | $6.9M | $5.8M | 75x | as long as short |
| BingX CRV-USDT | +0.0100% | 8h | 0.3637 | +0.218% | — | $21.6M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3642 | +0.364% | $1.1M | $152K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3633 | +0.120% | $38K | $173K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3639 | +0.265% | $507K | $462K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3636 | +0.190% | $60K | $692K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3674 | +1.237% | $2K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3634 | +0.136% | $241K | $886K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3627 | −0.052% | $19K | $9K | 3x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0164% | 1h | 0.3632 | +0.078% | $3.1M | $3.5M | 50x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3633 | +0.107% | $1.4M | $4.8M | 75x | as long as short |
| Hyperliquid CRV | +0.0297% | 1h | 0.3642 | +0.358% | $22.3M | $17.1M | 10x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0384% | 1h | 0.3641 | +0.328% | $387K | $4.9M | 50x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0400% / S −0.0160% | 1h | 0.3640 | +0.289% | $216K | — | 100x | as long as short |
| Backpack CRV_USDC_PERPlong | +0.0468% | 1h | 0.3629 | long leg | $104K | $362K | 10x |
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
ApeX Omni CRVUSDT
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
Kraken Futures PF_CRVUSD
BloFin CRV-USDT
Hyperliquid CRV
Coinbase International CRV-PERP-INTX
GMX CRV/USD [ETH-USDC]