Funding arb · Price arb /

CRV

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0130%/8h= +14.2% APRpaid last 24h +0.197%

Price spread now: Orderly against Deribit−0.028%7-day average — · you buy dearer than you sell

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

Long on Deribit 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

Funding pays, the price is against you. Orderly is 0.028% cheaper against Deribit than usual: you would sell low and buy high (spread −0.028% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 17 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit CRV_USDC-PERPETUAL	0.3572	−0.0030	get 0.0004% / 1h	0m 16s	$53K	$46K	25x
Short	Orderly PERP_CRV_USDC	0.3571	0.0100	get 0.0100% / 8h	0m 16s	$24K	$928	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Deribit. 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 DeribitbpFee OrderlybpOrdersPrice spread, now −0.028%Rate

Funding earned: $27.3
Price spread: −0.028% → 0.000%: −$2.8
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: $11.5
Costs to cover: 0.130%
Break-even: 4.1 days

Slippage unknown: Deribit: no order-book sample; 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 Deribit no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Deribit and 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
Reya CRVRUSDPERP	−0.0048%	1h	0.3571	−0.027%	$15	—	15x	as long as short
Deribit CRV_USDC-PERPETUALlong	−0.0030%	1h	0.3572	long leg	$53K	$46K	25x
Backpack CRV_USDC_PERP	−0.0013%	1h	0.3575	+0.084%	$93K	$256K	10x	as long as short
Variational Omni CRV	−0.0001%	8h	0.3565	−0.195%	$1.1M	$94K	—	as long as short
dYdX CRV-USD	0.0000%	1h	0.3570	−0.049%	$37K	$8K	10x	as long as short
Phoenix CRV	0.0000%	1h	0.3562	−0.291%	$25K	$187K	10x	as long as short
Injective CRV/USDC PERP	+0.0033%	1h	0.3670	+2.744%	$79	$384K	12x	as long as short
Lighter CRV	+0.0096%	1h	0.3571	−0.028%	$376K	$698K	10x	as long as short
Hyperliquid CRV	+0.0100%	1h	0.3577	+0.129%	$20.9M	$16.7M	10x	as long as short
Aster CRVUSDT	+0.0100%	8h	0.3571	−0.033%	$114K	$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	0.3570	−0.064%	$360K	$200K	10x	as long as short
Binance CRVUSDT	+0.0100%	8h	0.3571	−0.021%	$24.6M	$57.6M	75x	as long as short
Bybit CRVUSDT	+0.0100%	8h	0.3568	−0.112%	$26.9M	$19.7M	75x	as long as short
OKX CRV-USDT-SWAP	+0.0100%	8h	0.3571	−0.028%	$8.7M	$20.4M	50x	as long as short
Gate CRV_USDT	+0.0100%	8h	0.3572	0.000%	$1.8M	$1.3M	50x	as long as short
MEXC CRV_USDT	+0.0100%	8h	0.3572	0.000%	$12.4M	$5.6M	125x	as long as short
KuCoin CRVUSDTM	+0.0100%	8h	0.3574	+0.056%	$6.8M	$8.5M	50x	as long as short
Bitget CRVUSDT	+0.0100%	8h	0.3574	+0.056%	$6.7M	$5.3M	75x	as long as short
BingX CRV-USDC	+0.0100%	8h	0.3570	−0.056%	—	$1.7M	—	as long as short
edgeX CRVUSDC	+0.0100%	4h	0.3560	−0.324%	$37K	$175K	20x	as long as short
GRVT CRV_USDT_Perp	+0.0100%	8h	0.3560	−0.336%	$496K	$419K	10x	as long as short
ApeX Omni CRVUSDT	+0.0100%	1h	0.3560	−0.336%	$52K	$670K	50x	as long as short
Orderly PERP_CRV_USDCshort	+0.0100%	8h	0.3571	−0.028%	$24K	$928	10x
SunX CRV-USDT	+0.0100%	8h	0.3656	+2.352%	$1K	$1.3M	20x	as long as short
Aevo CRV-PERP	+0.0104%	1h	0.3572	0.000%	$13K	$6K	3x	as long as short
Extended CRV-USD	+0.0144%	1h	0.3571	−0.037%	$251K	$510K	25x	as long as short
BloFin CRV-USDT	+0.0220%	8h	0.3575	+0.084%	$1.3M	$3.9M	75x	as long as short
Coinbase International CRV-PERP-INTX	+0.0400%	1h	0.3578	+0.168%	$359K	$4.3M	50x	as long as short
GMX CRV/USD [ETH-USDC]	L +0.0414% / S −0.0177%	1h	0.3572	−0.011%	$209K	—	100x	as long as short
Kraken Futures PF_CRVUSD	+0.0743%	1h	0.3577	+0.146%	$3.0M	$2.8M	50x	as long as short