Funding you earn now, next payment 22:00 UTC+0.0323%/8h= +35.4% APRpaid last 24h +0.073%
Price spread now: Backpack against MEXC+0.022%7-day average +0.084% · you sell dearer than you buy
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs−$38as in the Price arb table
costs, in and out, $10k−$320.322% of the position
Funding, last 7 days+0.064%+$6 on $10k
+Price spread, last 4 days (all we have)+0.097%+$10 · spread now +0.022%, 7d avg +0.084%
=Funding pays, the price is against you. Backpack is 0.062% cheaper against MEXC than usual: you would sell low and buy high (spread +0.022% now, against its 7-day average of +0.084%). If the spread goes back, that is −$6 on $10k: about 15 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.064% in total) that is about 6.8 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.064% in total (about 3.4% 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 | MEXC CRV_USDT | 0.3632 | 0.0100 | pay 0.0100% / 8h | 2h 37m | $14.4M | $5.6M | 125x |
| Short | Backpack CRV_USDC_PERP | 0.3633 | 0.0423 | get 0.0053% / 1h | 37m 46s | $104K | $362K | 10x |
MEXC CRV_USDT
Backpack CRV_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against MEXC. 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
- $67.86
- Price spread: +0.022% → +0.084%
- −$6.21
- Slippage, 4 orders
- −$18.22
- Fee MEXC: 2 bp × 2 orders
- −$4
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $29.43
- Costs to cover
- 0.322%
- Break-even
- 4.0 days
Slippage from MEXC: live order book, 1 min ago; Backpack: live order book, 50 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 MEXC live order book, 1 min ago | 1.38 bp | 6.7 bp −$7 | 17.1 bp −$171 | 44.6 bp −$4,459 | 111.3 bp −$55.6K |
| Sell Backpack live order book, 50 min ago | 0.14 bp | 11.0 bp −$11 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit CRV_USDC-PERPETUAL | −0.0576% | 1h | 0.3627 | −0.138% | $57K | $48K | 25x | as long as short |
| Injective CRV/USDC PERP | −0.0103% | 1h | 0.3630 | −0.055% | $78 | $265K | 12x | as long as short |
| Reya CRVRUSDPERP | −0.0049% | 1h | 0.3625 | −0.181% | $16 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3626 | −0.172% | $37K | $4K | 10x | as long as short |
| Phoenix CRV | 0.0000% | 1h | 0.3623 | −0.256% | $26K | $193K | 10x | as long as short |
| Orderly PERP_CRV_USDC | +0.0096% | 8h | 0.3628 | −0.110% | $24K | $701 | 10x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3628 | −0.110% | $412K | $695K | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3629 | −0.079% | $130K | $186K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3623 | −0.246% | $367K | $166K | 10x | as long as short |
| Binance CRVUSDT | +0.0100% | 8h | 0.3631 | −0.028% | $25.4M | $58.4M | 75x | as long as short |
Deribit CRV_USDC-PERPETUAL
Injective CRV/USDC PERP
Reya CRVRUSDPERP
dYdX CRV-USD
Phoenix CRV
Orderly PERP_CRV_USDC
Lighter CRV
Aster CRVUSDT
Pacifica CRV
Binance CRVUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit CRVUSDT | +0.0100% | 8h | 0.3630 | −0.055% | $27.6M | $17.2M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3634 | +0.055% | $8.6M | $22.4M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3631 | −0.028% | $2.0M | $1.3M | 50x | as long as short |
| MEXC CRV_USDTlong | +0.0100% | 8h | 0.3632 | long leg | $14.4M | $5.6M | 125x | |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3633 | +0.028% | $7.0M | $9.2M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3634 | +0.055% | $6.9M | $5.8M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3631 | −0.028% | — | $1.7M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3624 | −0.234% | $1.1M | $151K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3623 | −0.259% | $37K | $172K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3620 | −0.322% | $510K | $462K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3625 | −0.193% | $60K | $695K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3659 | +0.743% | $1K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3632 | −0.011% | $241K | $886K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3629 | −0.096% | $19K | $9K | 3x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0164% | 1h | 0.3631 | −0.025% | $3.1M | $3.5M | 50x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3618 | −0.385% | $1.4M | $4.7M | 75x | as long as short |
| Hyperliquid CRV | +0.0311% | 1h | 0.3639 | +0.190% | $22.3M | $17.0M | 10x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0384% | 1h | 0.3628 | −0.110% | $388K | $4.8M | 50x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0401% / S −0.0160% | 1h | 0.3629 | −0.083% | $215K | — | 100x | as long as short |
| Backpack CRV_USDC_PERPshort | +0.0423% | 1h | 0.3633 | +0.022% | $104K | $362K | 10x |
Bybit CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDC
Variational Omni CRV
edgeX CRVUSDC
GRVT CRV_USDT_Perp
ApeX Omni CRVUSDT
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
Kraken Futures PF_CRVUSD
BloFin CRV-USDT
Hyperliquid CRV
Coinbase International CRV-PERP-INTX
GMX CRV/USD [ETH-USDC]