Funding you earn now, next payment 04:00 UTC−0.0970%/8h= −106.2% APRnext payment −$1.21 per $10,000 · paid last 24h +0.017%
Price spread now: Backpack against Kraken Futures−0.017%7-day average −0.037% · 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−$48as in the Price arb table
costs, in and out, $10k−$500.502% of the position
Funding, last 7 days−0.069%−$7 on $10k
+Price spread, last 4 days (all we have)−0.409%−$41 · spread now −0.017%, 7d avg −0.037%
=The price spread sits at its 7-day average of −0.037%, so right now this pair is about funding alone: −$29 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.069% in total (about -3.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.21 per $10,000. 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 | Kraken Futures PF_CRVUSD | 0.3608 | 0.0701 | pay 0.0088% / 1h | 51m 33s | $3.0M | $2.5M | 50x |
| Short | Backpack CRV_USDC_PERP | 0.3608 | −0.0269 | pay 0.0034% / 1h | 51m 33s | $99K | $296K | 10x |
Kraken Futures PF_CRVUSD
Backpack CRV_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Kraken Futures. 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
- −$203.75
- Price spread: −0.017% → −0.037%
- $1.94
- Slippage, 4 orders
- −$30.2
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$252.01
- Costs to cover
- 0.502%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 2 min ago; Backpack: live order book, 7 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 Kraken Futures live order book, 2 min ago | 9.68 bp | 14.7 bp −$15 | 46.6 bp −$466 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 7 min ago | 1.38 bp | 8.2 bp −$8 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack CRV_USDC_PERPshort | −0.0269% | 1h | 0.3608 | −0.017% | $99K | $296K | 10x | |
| Reya CRVRUSDPERP | −0.0048% | 1h | 0.3601 | −0.212% | $15 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3600 | −0.239% | $37K | $7K | 10x | as long as short |
| Phoenix CRV | 0.0000% | 1h | 0.3615 | +0.180% | $26K | $168K | 10x | as long as short |
| Deribit CRV_USDC-PERPETUAL | 0.0000% | 1h | 0.3605 | −0.092% | $55K | $48K | 25x | as long as short |
| Injective CRV/USDC PERP | +0.0033% | 1h | 0.3670 | +1.709% | $79 | $384K | 12x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3600 | −0.231% | $380K | $701K | 10x | as long as short |
| Orderly PERP_CRV_USDC | +0.0097% | 8h | 0.3606 | −0.064% | $24K | $902 | 10x | as long as short |
| Hyperliquid CRV | +0.0100% | 1h | 0.3608 | −0.003% | $21.8M | $14.9M | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3603 | −0.159% | $128K | $179K | 10x | as long as short |
Reya CRVRUSDPERP
dYdX CRV-USD
Phoenix CRV
Deribit CRV_USDC-PERPETUAL
Injective CRV/USDC PERP
Lighter CRV
Orderly PERP_CRV_USDC
Hyperliquid CRV
Aster CRVUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica CRV | +0.0100% | 1h | 0.3601 | −0.207% | $365K | $198K | 10x | as long as short |
| Binance CRVUSDT | +0.0100% | 8h | 0.3604 | −0.133% | $24.9M | $53.7M | 75x | as long as short |
| Bybit CRVUSDT | +0.0100% | 8h | 0.3602 | −0.175% | $27.3M | $17.6M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3604 | −0.120% | $8.7M | $20.1M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3602 | −0.175% | $1.9M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3603 | −0.147% | $14.0M | $5.3M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3605 | −0.092% | $6.2M | $8.7M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3603 | −0.147% | $6.7M | $5.1M | 75x | as long as short |
| BingX CRV-USDT | +0.0100% | 8h | 0.3601 | −0.203% | — | $23.5M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3618 | +0.266% | $1.1M | $102K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3611 | +0.075% | $37K | $173K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3618 | +0.279% | $510K | $433K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3611 | +0.074% | $52K | $685K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3638 | +0.823% | $2K | $1.2M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3602 | −0.174% | $236K | $476K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3606 | −0.053% | $13K | $6K | 3x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0174% / S +0.0091% | 1h | 0.3605 | −0.085% | $195K | — | 100x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3613 | +0.130% | $1.4M | $3.9M | 75x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0384% | 1h | 0.3640 | +0.878% | $379K | $4.0M | 50x | as long as short |
| Kraken Futures PF_CRVUSDlong | +0.0701% | 1h | 0.3608 | long leg | $3.0M | $2.5M | 50x |
Pacifica CRV
Binance CRVUSDT
Bybit CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDT
Variational Omni CRV
edgeX CRVUSDC
GRVT CRV_USDT_Perp
ApeX Omni CRVUSDT
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
GMX CRV/USD [ETH-USDC]
BloFin CRV-USDT
Coinbase International CRV-PERP-INTX