Funding arb · Price arb /

CRV

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.018%

Price spread now: Orderly against Injective−3.106%7-day average — · you buy dearer than you sell

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

Long on Injective 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 3.106% cheaper against Injective than usual: you would sell low and buy high (spread −3.106% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$311 on $10k: about 5 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective CRV/USDC PERP	0.3670	0.0033	pay 0.0004% / 1h	23m 21s	$79	$384K	12x
Short	Orderly PERP_CRV_USDC	0.3556	0.0100	get 0.0100% / 8h	2h 23m	$24K	$902	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Injective. 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 InjectivebpFee OrderlybpOrdersPrice spread, now −3.106%Rate

Funding earned: $14
Price spread: −3.106% → 0.000%: −$310.63
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$302.65
Costs to cover: 0.060%
Break-even: 158.3 days

Slippage unknown: Injective: 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 Injective no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Injective 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
Backpack CRV_USDC_PERP	−0.0120%	1h	0.3562	−2.940%	$93K	$261K	10x	as long as short
Reya CRVRUSDPERP	−0.0048%	1h	0.3554	−3.149%	$15	—	15x	as long as short
Deribit CRV_USDC-PERPETUAL	−0.0031%	1h	0.3557	−3.079%	$53K	$45K	25x	as long as short
dYdX CRV-USD	0.0000%	1h	0.3557	−3.074%	$37K	$8K	10x	as long as short
Injective CRV/USDC PERPlong	+0.0033%	1h	0.3670	long leg	$79	$384K	12x
Phoenix CRV	+0.0045%	1h	0.3564	−2.877%	$25K	$177K	10x	as long as short
Variational Omni CRV	+0.0081%	8h	0.3546	−3.381%	$1.1M	$95K	—	as long as short
Lighter CRV	+0.0096%	1h	0.3557	−3.093%	$378K	$704K	10x	as long as short
Hyperliquid CRV	+0.0100%	1h	0.3558	−3.057%	$20.6M	$16.2M	10x	as long as short
Aster CRVUSDT	+0.0100%	8h	0.3557	−3.086%	$112K	$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	0.3555	−3.125%	$361K	$198K	10x	as long as short
Binance CRVUSDT	+0.0100%	8h	0.3556	−3.106%	$24.5M	$56.4M	75x	as long as short
Bybit CRVUSDT	+0.0100%	8h	0.3552	−3.215%	$26.8M	$19.0M	75x	as long as short
OKX CRV-USDT-SWAP	+0.0100%	8h	0.3557	−3.079%	$8.7M	$20.0M	50x	as long as short
Gate CRV_USDT	+0.0100%	8h	0.3555	−3.134%	$1.8M	$1.4M	50x	as long as short
MEXC CRV_USDT	+0.0100%	8h	0.3555	−3.134%	$12.6M	$5.6M	125x	as long as short
KuCoin CRVUSDTM	+0.0100%	8h	0.3556	−3.106%	$5.9M	$8.3M	50x	as long as short
Bitget CRVUSDT	+0.0100%	8h	0.3557	−3.079%	$6.6M	$5.3M	75x	as long as short
BingX CRV-USDT	+0.0100%	8h	0.3555	−3.134%	—	$23.5M	—	as long as short
edgeX CRVUSDC	+0.0100%	4h	0.3545	−3.411%	$37K	$173K	20x	as long as short
GRVT CRV_USDT_Perp	+0.0100%	8h	0.3560	−2.998%	$500K	$431K	10x	as long as short
ApeX Omni CRVUSDT	+0.0100%	1h	0.3547	−3.351%	$53K	$683K	50x	as long as short
Orderly PERP_CRV_USDCshort	+0.0100%	8h	0.3556	−3.106%	$24K	$902	10x
SunX CRV-USDT	+0.0100%	8h	0.3635	−0.954%	$2K	$1.3M	20x	as long as short
Extended CRV-USD	+0.0104%	1h	0.3556	−3.119%	$252K	$494K	25x	as long as short
Aevo CRV-PERP	+0.0104%	1h	0.3557	−3.093%	$13K	$6K	3x	as long as short
BloFin CRV-USDT	+0.0220%	8h	0.3555	−3.134%	$1.3M	$3.9M	75x	as long as short
GMX CRV/USD [ETH-USDC]	L +0.0414% / S −0.0177%	1h	0.3556	−3.114%	$208K	—	100x	as long as short
Coinbase International CRV-PERP-INTX	+0.0432%	1h	0.3558	−3.052%	$355K	$4.2M	50x	as long as short
Kraken Futures PF_CRVUSD	+0.0683%	1h	0.3561	−2.963%	$3.0M	$2.6M	50x	as long as short