Funding you earn now, next payment 04:00 UTC−0.0416%/8h= −45.5% APRnext payment −$0.52 per $10,000 · paid last 24h −0.040%
Price spread now: Backpack against GMX+0.174%7-day average +0.014% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.305%−$31 on $10k
+Price spread, last 4 days (all we have)−0.487%−$49 · spread now +0.174%, 7d avg +0.014%
=The price spread pays, funding is against you. Backpack is 0.160% dearer against GMX than usual: you sell high and buy low (spread +0.174% now, against its 7-day average of +0.014%): +$16 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 31 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX CRV/USD [ETH-USDC] | 0.3611 | L +0.0174% / S +0.0091% | pay 0.0022% / 1h | 53m 13s | $195K | — | 100x |
| Short | Backpack CRV_USDC_PERP | 0.3617 | −0.0242 | pay 0.0030% / 1h | 53m 13s | $99K | $296K | 10x |
GMX CRV/USD [ETH-USDC]
Backpack CRV_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against GMX. 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
- −$87.29
- Price spread: +0.174% → +0.014%
- $16.03
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$93.25
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Backpack: live order book, 5 min ago. 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 GMX no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 5 min ago | 1.38 bp | 8.2 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
GMX: 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack CRV_USDC_PERPshort | −0.0242% | 1h | 0.3617 | +0.174% | $99K | $296K | 10x | |
| Reya CRVRUSDPERP | −0.0048% | 1h | 0.3611 | +0.011% | $15 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3611 | −0.010% | $37K | $7K | 10x | as long as short |
| Phoenix CRV | 0.0000% | 1h | 0.3615 | +0.105% | $26K | $168K | 10x | as long as short |
| Deribit CRV_USDC-PERPETUAL | 0.0000% | 1h | 0.3612 | +0.028% | $55K | $48K | 25x | as long as short |
| Injective CRV/USDC PERP | +0.0033% | 1h | 0.3670 | +1.634% | $79 | $384K | 12x | as long as short |
| ApeX Omni CRVUSDT | +0.0060% | 1h | 0.3615 | +0.111% | $52K | $686K | 50x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3611 | −0.006% | $381K | $701K | 10x | as long as short |
| Orderly PERP_CRV_USDC | +0.0097% | 8h | 0.3612 | +0.028% | $24K | $902 | 10x | as long as short |
| Hyperliquid CRV | +0.0100% | 1h | 0.3617 | +0.155% | $21.9M | $14.9M | 10x | as long as short |
Reya CRVRUSDPERP
dYdX CRV-USD
Phoenix CRV
Deribit CRV_USDC-PERPETUAL
Injective CRV/USDC PERP
ApeX Omni CRVUSDT
Lighter CRV
Orderly PERP_CRV_USDC
Hyperliquid CRVShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster CRVUSDT | +0.0100% | 8h | 0.3611 | −0.004% | $129K | $180K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3610 | −0.022% | $366K | $198K | 10x | as long as short |
| Binance CRVUSDT | +0.0100% | 8h | 0.3613 | +0.055% | $25.0M | $53.6M | 75x | as long as short |
| Bybit CRVUSDT | +0.0100% | 8h | 0.3610 | −0.028% | $27.3M | $17.6M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3611 | 0.000% | $8.7M | $20.1M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3613 | +0.055% | $1.9M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3612 | +0.028% | $14.0M | $5.3M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3613 | +0.055% | $6.2M | $8.7M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3613 | +0.055% | $6.7M | $5.1M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3611 | 0.000% | — | $1.6M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3618 | +0.191% | $1.1M | $102K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3613 | +0.059% | $37K | $173K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3620 | +0.249% | $510K | $433K | 10x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3641 | +0.831% | $1K | $1.2M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3612 | +0.015% | $236K | $476K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3612 | +0.039% | $13K | $6K | 3x | as long as short |
| GMX CRV/USD [ETH-USDC]long | L +0.0174% / S +0.0091% | 1h | 0.3611 | long leg | $195K | — | 100x | |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3613 | +0.055% | $1.4M | $3.9M | 75x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0384% | 1h | 0.3640 | +0.803% | $379K | $4.0M | 50x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0700% | 1h | 0.3615 | +0.116% | $3.1M | $2.5M | 50x | as long as short |
Aster CRVUSDT
Pacifica CRV
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
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
BloFin CRV-USDT
Coinbase International CRV-PERP-INTX
Kraken Futures PF_CRVUSD