Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.037%

Price spread now: dYdX against Phoenix−0.083%46s7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 6 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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: dYdX is 0.083% cheaper against Phoenix than usual: you would sell low and buy high, −$8 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix CRV	0.3629	0	get 0.0000% / 1h	56m 33s	$26K	$176K	10x
Short	dYdX CRV-USD	0.3626	0	get 0.0000% / 1h	56m 33s	$37K	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Phoenix. 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 PhoenixbpFee dYdXbpOrdersPrice spread, now −0.083%Rate

Funding earned: $0
Price spread: −0.083% → 0.000%: −$8.3
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$25.3
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Phoenix: live order book, 55 min ago; dYdX: 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 Phoenix live order book, 55 min ago	1.39 bp	16.9 bp −$17	74.7 bp −$747	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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	−0.0165%	1h	0.3627	−0.066%	$97K	$266K	10x	as long as short
Reya CRVRUSDPERP	−0.0048%	1h	0.3624	−0.150%	$16	—	15x	as long as short
dYdX CRV-USDshort	0.0000%	1h	0.3626	−0.083%	$37K	$8K	10x
Phoenix CRVlong	0.0000%	1h	0.3629	long leg	$26K	$176K	10x
Deribit CRV_USDC-PERPETUAL	0.0000%	1h	0.3622	−0.196%	$55K	$47K	25x	as long as short
Injective CRV/USDC PERP	+0.0033%	1h	0.3670	+1.127%	$79	$384K	12x	as long as short
Lighter CRV	+0.0096%	1h	0.3625	−0.118%	$383K	$698K	10x	as long as short
Orderly PERP_CRV_USDC	+0.0099%	8h	0.3623	−0.168%	$24K	$902	10x	as long as short
Aster CRVUSDT	+0.0100%	8h	0.3626	−0.076%	$129K	$180K	10x	as long as short
Pacifica CRV	+0.0100%	1h	0.3624	−0.144%	$368K	$198K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CRVUSDT	+0.0100%	8h	0.3625	−0.117%	$24.9M	$54.4M	75x	as long as short
Bybit CRVUSDT	+0.0100%	8h	0.3622	−0.196%	$27.4M	$17.7M	75x	as long as short
OKX CRV-USDT-SWAP	+0.0100%	8h	0.3619	−0.278%	$8.7M	$20.3M	50x	as long as short
Gate CRV_USDT	+0.0100%	8h	0.3624	−0.141%	$1.9M	$1.3M	50x	as long as short
MEXC CRV_USDT	+0.0100%	8h	0.3622	−0.196%	$13.4M	$5.6M	125x	as long as short
KuCoin CRVUSDTM	+0.0100%	8h	0.3627	−0.058%	$6.1M	$8.6M	50x	as long as short
Bitget CRVUSDT	+0.0100%	8h	0.3625	−0.113%	$6.8M	$5.1M	75x	as long as short
BingX CRV-USDC	+0.0100%	8h	0.3622	−0.196%	—	$1.6M	—	as long as short
Variational Omni CRV	+0.0100%	8h	0.3629	−0.006%	$1.1M	$101K	—	as long as short
edgeX CRVUSDC	+0.0100%	4h	0.3629	+0.010%	$37K	$172K	20x	as long as short
GRVT CRV_USDT_Perp	+0.0100%	8h	0.3630	+0.024%	$513K	$451K	10x	as long as short
ApeX Omni CRVUSDT	+0.0100%	1h	0.3632	+0.080%	$52K	$684K	50x	as long as short
SunX CRV-USDT	+0.0100%	8h	0.3687	+1.595%	$2K	$1.3M	20x	as long as short
Extended CRV-USD	+0.0104%	1h	0.3620	−0.243%	$257K	$493K	25x	as long as short
Aevo CRV-PERP	+0.0104%	1h	0.3623	−0.174%	$13K	$6K	3x	as long as short
BloFin CRV-USDT	+0.0220%	8h	0.3621	−0.223%	$1.4M	$4.0M	75x	as long as short
Hyperliquid CRV	+0.0278%	1h	0.3632	+0.069%	$21.9M	$14.9M	10x	as long as short
GMX CRV/USD [ETH-USDC]	L +0.0417% / S −0.0177%	1h	0.3625	−0.113%	$212K	—	100x	as long as short
Coinbase International CRV-PERP-INTX	+0.0432%	1h	0.3635	+0.163%	$381K	$4.0M	50x	as long as short
Kraken Futures PF_CRVUSD	+0.0725%	1h	0.3629	+0.011%	$3.1M	$2.6M	50x	as long as short