Funding arb · Price arb /

CRV

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0332%/8h= −36.4% APRpaid last 24h +0.011%

Price spread now: MEXC against Coinbase International−0.084%51s7-day average −0.109% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as 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−$430.427% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.049%−$5 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now −0.084%, 7d avg −0.109%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.026% dearer against Coinbase International than usual: you sell high and buy low (spread −0.084% now, against its 7-day average of −0.109%): +$3 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.049% in total) that is about 3.7 days. The two prices were read 51 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 -0.049% in total (about -2.6% 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	Coinbase International CRV-PERP-INTX	0.3592	0.0432	pay 0.0054% / 1h	17m 21s	$360K	$4.2M	50x
Short	MEXC CRV_USDT	0.3589	0.0100	get 0.0100% / 8h	2h 17m	$12.7M	$5.6M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee MEXCbpOrdersPrice spread, now −0.084%Rate

Funding earned: −$69.72
Price spread: −0.084% → −0.109%: $2.58
Slippage, 4 orders: −$28.66
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$109.81
Costs to cover: 0.427%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; MEXC: 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 Coinbase International live order book, 2 min ago	6.97 bp	17.3 bp −$17	21.9 bp −$219	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	1.39 bp	6.9 bp −$7	16.1 bp −$161	59.6 bp −$5,959	119.6 bp −$59.8K

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	−0.0053%	1h	0.3589	−0.081%	$94K	$261K	10x	as long as short
Reya CRVRUSDPERP	−0.0048%	1h	0.3588	−0.113%	$15	—	15x	as long as short
dYdX CRV-USD	0.0000%	1h	0.3588	−0.101%	$37K	$8K	10x	as long as short
Deribit CRV_USDC-PERPETUAL	0.0000%	1h	0.3588	−0.111%	$54K	$45K	25x	as long as short
Injective CRV/USDC PERP	+0.0033%	1h	0.3670	+2.171%	$79	$384K	12x	as long as short
Phoenix CRV	+0.0045%	1h	0.3562	−0.844%	$25K	$177K	10x	as long as short
Variational Omni CRV	+0.0083%	8h	0.3569	−0.644%	$1.1M	$95K	—	as long as short
Lighter CRV	+0.0096%	1h	0.3587	−0.148%	$381K	$704K	10x	as long as short
Hyperliquid CRV	+0.0100%	1h	0.3592	−0.011%	$20.8M	$16.2M	10x	as long as short
Aster CRVUSDT	+0.0100%	8h	0.3589	−0.074%	$113K	$193K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica CRV	+0.0100%	1h	0.3588	−0.106%	$364K	$198K	10x	as long as short
Binance CRVUSDT	+0.0100%	8h	0.3588	−0.108%	$24.8M	$56.5M	75x	as long as short
Bybit CRVUSDT	+0.0100%	8h	0.3583	−0.251%	$27.0M	$19.0M	75x	as long as short
OKX CRV-USDT-SWAP	+0.0100%	8h	0.3587	−0.139%	$8.7M	$20.3M	50x	as long as short
Gate CRV_USDT	+0.0100%	8h	0.3590	−0.056%	$1.9M	$1.4M	50x	as long as short
MEXC CRV_USDTshort	+0.0100%	8h	0.3589	−0.084%	$12.7M	$5.6M	125x
KuCoin CRVUSDTM	+0.0100%	8h	0.3589	−0.084%	$6.0M	$8.3M	50x	as long as short
Bitget CRVUSDT	+0.0100%	8h	0.3590	−0.056%	$6.7M	$5.3M	75x	as long as short
BingX CRV-USDC	+0.0100%	8h	0.3588	−0.111%	—	$1.6M	—	as long as short
edgeX CRVUSDC	+0.0100%	4h	0.3573	−0.534%	$37K	$174K	20x	as long as short
GRVT CRV_USDT_Perp	+0.0100%	8h	0.3590	−0.056%	$508K	$445K	10x	as long as short
ApeX Omni CRVUSDT	+0.0100%	1h	0.3584	−0.223%	$53K	$682K	50x	as long as short
Orderly PERP_CRV_USDC	+0.0100%	8h	0.3587	−0.139%	$24K	$902	10x	as long as short
SunX CRV-USDT	+0.0100%	8h	0.3668	+2.116%	$1K	$1.3M	20x	as long as short
Extended CRV-USD	+0.0104%	1h	0.3589	−0.096%	$253K	$494K	25x	as long as short
Aevo CRV-PERP	+0.0104%	1h	0.3588	−0.116%	$13K	$6K	3x	as long as short
BloFin CRV-USDT	+0.0220%	8h	0.3585	−0.195%	$1.3M	$3.9M	75x	as long as short
GMX CRV/USD [ETH-USDC]	L +0.0415% / S −0.0177%	1h	0.3587	−0.143%	$210K	—	100x	as long as short
Coinbase International CRV-PERP-INTXlong	+0.0432%	1h	0.3592	long leg	$360K	$4.2M	50x
Kraken Futures PF_CRVUSD	+0.0677%	1h	0.3593	+0.035%	$3.0M	$2.6M	50x	as long as short