Funding you earn now, next payment 05:00 UTC+0.0332%/8h= +36.4% APRpaid last 24h −0.011%
Price spread now: Coinbase International against Bybit−0.168%54s7-day average +0.137% · you buy dearer than you sell
Net, funding: paid 7d − costs−$52as 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−$590.589% of the position
Funding, last 7 days+0.067%+$7 on $10k
+Price spread, last 4 days (all we have)+0.249%+$25 · spread now −0.168%, 7d avg +0.137%
=Funding pays, the price is against you. Coinbase International is 0.305% cheaper against Bybit than usual: you would sell low and buy high (spread −0.168% now, against its 7-day average of +0.137%). If the spread goes back, that is −$31 on $10k: about 3.1 days of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.067% in total) that is about 32 days. The two prices were read 54 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 0.067% in total (about 3.5% 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 | Bybit CRVUSDT | 0.3564 | 0.0100 | pay 0.0100% / 8h | 2h 22m | $26.9M | $19.0M | 75x |
| Short | Coinbase International CRV-PERP-INTX | 0.3558 | 0.0432 | get 0.0054% / 1h | 22m 30s | $355K | $4.2M | 50x |
Bybit CRVUSDT
Coinbase International CRV-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Bybit. 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
- $69.72
- Price spread: −0.168% → +0.137%
- −$30.52
- Slippage, 4 orders
- −$37.93
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$19.74
- Costs to cover
- 0.589%
- Break-even
- 9.0 days
Slippage from Bybit: live order book, 1 min ago; Coinbase International: live order book, 1 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 Bybit live order book, 1 min ago | 1.41 bp | 12.0 bp −$12 | 28.7 bp −$287 | 209.4 bp −$20.9K | doesn't fit |
| Sell Coinbase International live order book, 1 min ago | 5.62 bp | 10.6 bp −$11 | 18.1 bp −$181 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack CRV_USDC_PERP | −0.0119% | 1h | 0.3561 | −0.084% | $93K | $261K | 10x | as long as short |
| Reya CRVRUSDPERP | −0.0048% | 1h | 0.3566 | +0.069% | $15 | — | 15x | as long as short |
| Deribit CRV_USDC-PERPETUAL | −0.0031% | 1h | 0.3557 | −0.196% | $53K | $45K | 25x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3557 | −0.191% | $37K | $8K | 10x | as long as short |
| Injective CRV/USDC PERP | +0.0033% | 1h | 0.3670 | +2.974% | $79 | $384K | 12x | as long as short |
| Phoenix CRV | +0.0045% | 1h | 0.3564 | +0.011% | $25K | $177K | 10x | as long as short |
| Variational Omni CRV | +0.0081% | 8h | 0.3546 | −0.507% | $1.1M | $95K | — | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3562 | −0.056% | $378K | $704K | 10x | as long as short |
| Hyperliquid CRV | +0.0100% | 1h | 0.3570 | +0.168% | $20.7M | $16.2M | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3566 | +0.063% | $112K | $193K | 10x | as long as short |
Backpack CRV_USDC_PERP
Reya CRVRUSDPERP
Deribit CRV_USDC-PERPETUAL
dYdX CRV-USD
Injective CRV/USDC PERP
Phoenix CRV
Variational Omni CRV
Lighter CRV
Hyperliquid CRV
Aster CRVUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica CRV | +0.0100% | 1h | 0.3562 | −0.063% | $361K | $198K | 10x | as long as short |
| Binance CRVUSDT | +0.0100% | 8h | 0.3567 | +0.084% | $24.6M | $56.4M | 75x | as long as short |
| Bybit CRVUSDTlong | +0.0100% | 8h | 0.3564 | long leg | $26.9M | $19.0M | 75x | |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3568 | +0.112% | $8.7M | $20.1M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3565 | +0.028% | $1.8M | $1.4M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3567 | +0.084% | $12.6M | $5.6M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3564 | 0.000% | $6.0M | $8.3M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3568 | +0.112% | $6.6M | $5.3M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3565 | +0.028% | — | $1.6M | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3545 | −0.539% | $37K | $173K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3560 | −0.113% | $500K | $431K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3547 | −0.477% | $53K | $683K | 50x | as long as short |
| Orderly PERP_CRV_USDC | +0.0100% | 8h | 0.3568 | +0.112% | $24K | $902 | 10x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3635 | +1.992% | $2K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3565 | +0.022% | $252K | $494K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3557 | −0.210% | $13K | $6K | 3x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3555 | −0.253% | $1.3M | $3.9M | 75x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0414% / S −0.0177% | 1h | 0.3568 | +0.100% | $209K | — | 100x | as long as short |
| Coinbase International CRV-PERP-INTXshort | +0.0432% | 1h | 0.3558 | −0.168% | $355K | $4.2M | 50x | |
| Kraken Futures PF_CRVUSD | +0.0683% | 1h | 0.3561 | −0.077% | $3.0M | $2.6M | 50x | as long as short |
Pacifica CRV
Binance CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDC
edgeX CRVUSDC
GRVT CRV_USDT_Perp
ApeX Omni CRVUSDT
Orderly PERP_CRV_USDC
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
BloFin CRV-USDT
GMX CRV/USD [ETH-USDC]
Kraken Futures PF_CRVUSD