Funding arb · Price arb /

CRV

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0604%/8h= −66.1% APRpaid last 24h −0.038%

Price spread now: Bitget against Kraken Futures+0.009%7-day average −0.084% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$670.668% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.116%−$12 on $10k

Price spread, last 4 days (all we have)−0.321%−$32 · spread now +0.009%, 7d avg −0.084%

Together, before fees−0.437%−$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.094% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.009% now, against its 7-day average of −0.084%): +$9 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 7 days (−0.116% in total) that is about 5.6 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.116% in total (about -6.1% a year). A funding rate is set anew for every payment. 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	0.3596	0.0704	pay 0.0088% / 1h	49m 15s	$3.0M	$2.5M	50x
Short	Bitget CRVUSDT	0.3596	0.0100	get 0.0100% / 8h	4h 49m	$6.7M	$5.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 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 Kraken FuturesbpFee BitgetbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$126.82
Price spread: +0.009% → −0.084%: $9.35
Slippage, 4 orders: −$44.81
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$184.28
Costs to cover: 0.668%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; Bitget: live order book, 4 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, 5 min ago	9.68 bp	14.7 bp −$15	46.6 bp −$466	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	4.15 bp	14.7 bp −$15	27.6 bp −$276	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_PERP	−0.0164%	1h	0.3599	+0.084%	$99K	$296K	10x	as long as short
Reya CRVRUSDPERP	−0.0048%	1h	0.3596	0.000%	$15	—	15x	as long as short
dYdX CRV-USD	0.0000%	1h	0.3598	+0.052%	$37K	$7K	10x	as long as short
Phoenix CRV	0.0000%	1h	0.3606	+0.293%	$26K	$168K	10x	as long as short
Deribit CRV_USDC-PERPETUAL	+0.0028%	1h	0.3594	−0.047%	$54K	$48K	25x	as long as short
Injective CRV/USDC PERP	+0.0033%	1h	0.3670	+2.067%	$79	$384K	12x	as long as short
Lighter CRV	+0.0096%	1h	0.3593	−0.077%	$379K	$701K	10x	as long as short
Orderly PERP_CRV_USDC	+0.0097%	8h	0.3594	−0.047%	$24K	$902	10x	as long as short
Hyperliquid CRV	+0.0100%	1h	0.3597	+0.042%	$21.8M	$14.9M	10x	as long as short
Aster CRVUSDT	+0.0100%	8h	0.3598	+0.055%	$128K	$179K	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	0.3596	+0.001%	$365K	$198K	10x	as long as short
Binance CRVUSDT	+0.0100%	8h	0.3593	−0.062%	$24.8M	$53.7M	75x	as long as short
Bybit CRVUSDT	+0.0100%	8h	0.3593	−0.074%	$27.2M	$17.6M	75x	as long as short
OKX CRV-USDT-SWAP	+0.0100%	8h	0.3592	−0.102%	$8.7M	$20.0M	50x	as long as short
Gate CRV_USDT	+0.0100%	8h	0.3595	−0.019%	$1.9M	$1.3M	50x	as long as short
MEXC CRV_USDT	+0.0100%	8h	0.3594	−0.047%	$13.9M	$5.3M	125x	as long as short
KuCoin CRVUSDTM	+0.0100%	8h	0.3596	+0.009%	$6.2M	$8.7M	50x	as long as short
Bitget CRVUSDTshort	+0.0100%	8h	0.3596	+0.009%	$6.7M	$5.1M	75x
BingX CRV-USDT	+0.0100%	8h	0.3594	−0.047%	—	$23.5M	—	as long as short
Variational Omni CRV	+0.0100%	8h	0.3598	+0.061%	$1.1M	$102K	—	as long as short
edgeX CRVUSDC	+0.0100%	4h	0.3611	+0.427%	$37K	$173K	20x	as long as short
GRVT CRV_USDT_Perp	+0.0100%	8h	0.3618	+0.631%	$510K	$433K	10x	as long as short
ApeX Omni CRVUSDT	+0.0100%	1h	0.3603	+0.204%	$52K	$684K	50x	as long as short
SunX CRV-USDT	+0.0100%	8h	0.3630	+0.955%	$2K	$1.2M	20x	as long as short
Extended CRV-USD	+0.0104%	1h	0.3592	−0.108%	$235K	$476K	25x	as long as short
Aevo CRV-PERP	+0.0104%	1h	0.3594	−0.035%	$13K	$6K	3x	as long as short
GMX CRV/USD [ETH-USDC]	L +0.0173% / S +0.0091%	1h	0.3594	−0.037%	$194K	—	100x	as long as short
BloFin CRV-USDT	+0.0220%	8h	0.3596	+0.009%	$1.4M	$3.9M	75x	as long as short
Coinbase International CRV-PERP-INTX	+0.0384%	1h	0.3599	+0.093%	$375K	$4.0M	50x	as long as short
Kraken Futures PF_CRVUSDlong	+0.0704%	1h	0.3596	long leg	$3.0M	$2.5M	50x