Funding arb · Price arb /

CRV

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0288%/8h= −31.5% APRpaid last 24h +0.059%

Price spread now: Orderly against Coinbase International+0.082%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Orderly is 0.082% dearer against Coinbase International than usual: you sell high and buy low (spread +0.082% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International CRV-PERP-INTX	0.3679	0.0384	pay 0.0048% / 1h	13m 35s	$390K	$4.7M	50x
Short	Orderly PERP_CRV_USDC	0.3682	0.0096	get 0.0096% / 8h	7h 13m	$25K	$929	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.082%Rate

Funding earned: −$60.46
Price spread: +0.082% → 0.000%: $8.15
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$68.31
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 5 min ago; Orderly: 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 Coinbase International live order book, 5 min ago	5.46 bp	10.5 bp −$10	17.8 bp −$178	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
Phoenix CRV	−0.0087%	1h	0.3678	−0.022%	$26K	$168K	10x	as long as short
Reya CRVRUSDPERP	−0.0048%	1h	0.3681	+0.053%	$16	—	15x	as long as short
dYdX CRV-USD	0.0000%	1h	0.3679	−0.002%	$38K	$5K	10x	as long as short
Deribit CRV_USDC-PERPETUAL	0.0000%	1h	0.3682	+0.082%	$57K	$50K	25x	as long as short
Injective CRV/USDC PERP	+0.0033%	1h	0.3670	−0.245%	$79	$384K	12x	as long as short
Kraken Futures PF_CRVUSD	+0.0088%	1h	0.3688	+0.235%	$3.1M	$2.8M	50x	as long as short
Lighter CRV	+0.0096%	1h	0.3682	+0.092%	$411K	$727K	10x	as long as short
Orderly PERP_CRV_USDCshort	+0.0096%	8h	0.3682	+0.082%	$25K	$929	10x
Aster CRVUSDT	+0.0100%	8h	0.3682	+0.095%	$131K	$182K	10x	as long as short
Pacifica CRV	+0.0100%	1h	0.3683	+0.106%	$375K	$211K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CRVUSDT	+0.0100%	8h	0.3683	+0.104%	$25.7M	$55.8M	75x	as long as short
Bybit CRVUSDT	+0.0100%	8h	0.3682	+0.082%	$28.1M	$17.5M	75x	as long as short
OKX CRV-USDT-SWAP	+0.0100%	8h	0.3679	0.000%	$8.8M	$21.5M	50x	as long as short
Gate CRV_USDT	+0.0100%	8h	0.3683	+0.109%	$1.9M	$1.3M	50x	as long as short
MEXC CRV_USDT	+0.0100%	8h	0.3682	+0.082%	$15.2M	$5.2M	125x	as long as short
KuCoin CRVUSDTM	+0.0100%	8h	0.3683	+0.109%	$6.6M	$9.2M	50x	as long as short
Bitget CRVUSDT	+0.0100%	8h	0.3685	+0.163%	$7.0M	$5.6M	75x	as long as short
BingX CRV-USDT	+0.0100%	8h	0.3682	+0.082%	—	$23.6M	—	as long as short
Variational Omni CRV	+0.0100%	8h	0.3674	−0.138%	$1.1M	$114K	—	as long as short
edgeX CRVUSDC	+0.0100%	4h	0.3676	−0.088%	$38K	$174K	20x	as long as short
GRVT CRV_USDT_Perp	+0.0100%	8h	0.3676	−0.093%	$519K	$417K	10x	as long as short
ApeX Omni CRVUSDT	+0.0100%	1h	0.3676	−0.082%	$53K	$699K	50x	as long as short
SunX CRV-USDT	+0.0100%	8h	0.3718	+1.060%	$2K	$1.3M	20x	as long as short
Extended CRV-USD	+0.0104%	1h	0.3681	+0.060%	$244K	$877K	25x	as long as short
Aevo CRV-PERP	+0.0104%	1h	0.3682	+0.093%	$13K	$6K	3x	as long as short
BloFin CRV-USDT	+0.0220%	8h	0.3674	−0.136%	$1.4M	$4.3M	75x	as long as short
Hyperliquid CRV	+0.0321%	1h	0.3689	+0.272%	$22.9M	$16.5M	10x	as long as short
Coinbase International CRV-PERP-INTXlong	+0.0384%	1h	0.3679	long leg	$390K	$4.7M	50x
GMX CRV/USD [ETH-USDC]	L +0.0417% / S −0.0174%	1h	0.3682	+0.090%	$219K	—	100x	as long as short
Backpack CRV_USDC_PERP	+0.0568%	1h	0.3687	+0.220%	$99K	$295K	10x	as long as short