Funding you earn now, next payment 00:00 UTC+0.0157%/8h= +17.2% APRnext payment +$0.20 per $10,000 · paid last 24h +0.122%
Price spread now: Backpack against Coinbase International+0.166%7-day average −0.026% · you sell dearer than you buy
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$440.443% of the position
Funding, last 7 days+0.065%+$7 on $10k
+Price spread, last 3 days (all we have)−0.108%−$11 · spread now +0.166%, 7d avg −0.026%
=Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Backpack is 0.193% dearer against Coinbase International than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of −0.026%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International CRV-PERP-INTX | 0.3669 | 0.0384 | pay 0.0048% / 1h | 19m 35s | $383K | $4.7M | 50x |
| Short | Backpack CRV_USDC_PERP | 0.3675 | 0.0541 | get 0.0068% / 1h | 19m 35s | $99K | $295K | 10x |
Coinbase International CRV-PERP-INTX
Backpack CRV_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Coinbase International. 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
- $32.9
- Price spread: +0.166% → −0.026%
- $19.25
- Slippage, 4 orders
- −$24.32
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $7.83
- Costs to cover
- 0.443%
- Break-even
- 5.3 days
Slippage from Coinbase International: live order book, 4 min ago; Backpack: live order book, 54 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 Coinbase International live order book, 4 min ago | 6.80 bp | 11.8 bp −$12 | 18.2 bp −$182 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 54 min ago | 0.96 bp | 8.2 bp −$8 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix CRV | −0.0087% | 1h | 0.3668 | −0.022% | $26K | $168K | 10x | as long as short |
| Reya CRVRUSDPERP | −0.0048% | 1h | 0.3670 | +0.039% | $16 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3672 | +0.071% | $38K | $5K | 10x | as long as short |
| Deribit CRV_USDC-PERPETUAL | 0.0000% | 1h | 0.3674 | +0.136% | $57K | $50K | 25x | as long as short |
| Injective CRV/USDC PERP | +0.0033% | 1h | 0.3670 | +0.027% | $79 | $384K | 12x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0088% | 1h | 0.3678 | +0.239% | $3.1M | $2.8M | 50x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3673 | +0.109% | $411K | $726K | 10x | as long as short |
| Orderly PERP_CRV_USDC | +0.0096% | 8h | 0.3674 | +0.136% | $24K | $929 | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3674 | +0.129% | $131K | $182K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3673 | +0.111% | $374K | $211K | 10x | as long as short |
Phoenix CRV
Reya CRVRUSDPERP
dYdX CRV-USD
Deribit CRV_USDC-PERPETUAL
Injective CRV/USDC PERP
Kraken Futures PF_CRVUSD
Lighter CRV
Orderly PERP_CRV_USDC
Aster CRVUSDT
Pacifica CRVShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CRVUSDT | +0.0100% | 8h | 0.3670 | +0.027% | $25.6M | $55.9M | 75x | as long as short |
| Bybit CRVUSDT | +0.0100% | 8h | 0.3670 | +0.027% | $27.9M | $17.5M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3670 | +0.027% | $8.8M | $21.5M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3670 | +0.027% | $1.9M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3669 | 0.000% | $15.1M | $5.2M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3674 | +0.136% | $6.6M | $9.2M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3671 | +0.055% | $6.9M | $5.6M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3668 | −0.027% | — | $1.7M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3668 | −0.030% | $1.1M | $113K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3669 | −0.003% | $38K | $173K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3670 | +0.016% | $518K | $417K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3670 | +0.027% | $53K | $698K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3708 | +1.063% | $2K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3667 | −0.063% | $244K | $913K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3670 | +0.034% | $13K | $6K | 3x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3668 | −0.027% | $1.4M | $4.3M | 75x | as long as short |
| Hyperliquid CRV | +0.0304% | 1h | 0.3678 | +0.251% | $22.8M | $16.5M | 10x | as long as short |
| Coinbase International CRV-PERP-INTXlong | +0.0384% | 1h | 0.3669 | long leg | $383K | $4.7M | 50x | |
| GMX CRV/USD [ETH-USDC] | L +0.0417% / S −0.0174% | 1h | 0.3673 | +0.119% | $218K | — | 100x | as long as short |
| Backpack CRV_USDC_PERPshort | +0.0541% | 1h | 0.3675 | +0.166% | $99K | $295K | 10x |
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
BloFin CRV-USDT
Hyperliquid CRV
GMX CRV/USD [ETH-USDC]