Funding arb · Price arb /

CRV

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0284%/8h= −31.1% APRpaid last 24h +0.064%

Price spread now: OKX against Coinbase International−0.218%7-day average −0.117% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$550.552% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 3 days (all we have)+0.116%+$12 · spread now −0.218%, 7d avg −0.117%

Together, before fees+0.097%+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and OKX is 0.101% cheaper against Coinbase International than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.117%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.020% in total (about -1.0% 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	0.3667	0.0384	pay 0.0048% / 1h	26m 18s	$391K	$4.9M	50x
Short	OKX CRV-USDT-SWAP	0.3659	0.0100	get 0.0100% / 8h	2h 26m	$8.7M	$22.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.218%Rate

Funding earned: −$59.64
Price spread: −0.218% → −0.117%: −$10.12
Slippage, 4 orders: −$35.19
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$124.95
Costs to cover: 0.552%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; OKX: live order book, 2 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, 3 min ago	5.45 bp	13.1 bp −$13	19.7 bp −$197	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	1.37 bp	16.0 bp −$16	42.4 bp −$424	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
Deribit CRV_USDC-PERPETUAL	−0.0569%	1h	0.3661	−0.164%	$57K	$48K	25x	as long as short
Injective CRV/USDC PERP	−0.0103%	1h	0.3630	−1.009%	$78	$265K	12x	as long as short
Reya CRVRUSDPERP	−0.0049%	1h	0.3658	−0.249%	$16	—	15x	as long as short
dYdX CRV-USD	0.0000%	1h	0.3662	−0.126%	$38K	$4K	10x	as long as short
Phoenix CRV	0.0000%	1h	0.3669	+0.065%	$26K	$193K	10x	as long as short
Orderly PERP_CRV_USDC	+0.0095%	8h	0.3661	−0.164%	$24K	$701	10x	as long as short
Lighter CRV	+0.0096%	1h	0.3660	−0.194%	$415K	$698K	10x	as long as short
Aster CRVUSDT	+0.0100%	8h	0.3661	−0.174%	$131K	$186K	10x	as long as short
Pacifica CRV	+0.0100%	1h	0.3664	−0.084%	$377K	$173K	10x	as long as short
Binance CRVUSDT	+0.0100%	8h	0.3659	−0.218%	$25.6M	$58.3M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CRVUSDT	+0.0100%	8h	0.3661	−0.164%	$27.8M	$17.3M	75x	as long as short
OKX CRV-USDT-SWAPshort	+0.0100%	8h	0.3659	−0.218%	$8.7M	$22.6M	50x
Gate CRV_USDT	+0.0100%	8h	0.3662	−0.136%	$2.0M	$1.3M	50x	as long as short
MEXC CRV_USDT	+0.0100%	8h	0.3658	−0.245%	$14.6M	$5.7M	125x	as long as short
KuCoin CRVUSDTM	+0.0100%	8h	0.3662	−0.136%	$7.1M	$9.2M	50x	as long as short
Bitget CRVUSDT	+0.0100%	8h	0.3662	−0.136%	$6.9M	$5.8M	75x	as long as short
BingX CRV-USDT	+0.0100%	8h	0.3660	−0.191%	—	$21.6M	—	as long as short
Variational Omni CRV	+0.0100%	8h	0.3659	−0.209%	$1.1M	$152K	—	as long as short
edgeX CRVUSDC	+0.0100%	4h	0.3657	−0.273%	$38K	$173K	20x	as long as short
GRVT CRV_USDT_Perp	+0.0100%	8h	0.3660	−0.191%	$516K	$462K	10x	as long as short
ApeX Omni CRVUSDT	+0.0100%	1h	0.3664	−0.082%	$60K	$694K	50x	as long as short
SunX CRV-USDT	+0.0100%	8h	0.3703	+0.982%	$1K	$1.3M	20x	as long as short
Extended CRV-USD	+0.0104%	1h	0.3657	−0.264%	$243K	$885K	25x	as long as short
Aevo CRV-PERP	+0.0104%	1h	0.3661	−0.154%	$19K	$9K	3x	as long as short
Kraken Futures PF_CRVUSD	+0.0162%	1h	0.3666	−0.027%	$3.1M	$3.5M	50x	as long as short
BloFin CRV-USDT	+0.0220%	8h	0.3659	−0.218%	$1.4M	$4.8M	75x	as long as short
Hyperliquid CRV	+0.0337%	1h	0.3666	−0.033%	$22.6M	$17.1M	10x	as long as short
Coinbase International CRV-PERP-INTXlong	+0.0384%	1h	0.3667	long leg	$391K	$4.9M	50x
GMX CRV/USD [ETH-USDC]	L +0.0402% / S −0.0160%	1h	0.3662	−0.135%	$217K	—	100x	as long as short
Backpack CRV_USDC_PERP	+0.0494%	1h	0.3663	−0.106%	$105K	$362K	10x	as long as short