Funding arb · Price arb /

CRV

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0149%/8h= +16.3% APRpaid last 24h +0.045%

Price spread now: Bybit against Reya−0.138%46s7-day average — · you buy dearer than you sell

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

Long on Reya Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Bybit is 0.138% cheaper against Reya than usual: you would sell low and buy high (spread −0.138% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 3.1 days of funding at the current rate (+$4 a day). 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	Reya CRVRUSDPERP	0.3682	−0.0049	get 0.0006% / 1h	34m 43s	$16	—	15x
Short	Bybit CRVUSDT	0.3677	0.0100	get 0.0100% / 8h	1h 34m	$27.9M	$17.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Reya. 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 ReyabpFee BybitbpOrdersPrice spread, now −0.138%Rate

Funding earned: $31.19
Price spread: −0.138% → 0.000%: −$13.85
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $0.34
Costs to cover: 0.170%
Break-even: 6.9 days

Slippage unknown: Reya: no order-book sample; Bybit: live order book, 4 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	1.36 bp	12.1 bp −$12	24.0 bp −$240	296.7 bp −$29.7K	doesn't fit

Reya: 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
Injective CRV/USDC PERP	−0.0228%	1h	0.3670	−0.329%	$67K	$351K	12x	as long as short
Phoenix CRV	−0.0176%	1h	0.3686	+0.103%	$26K	$181K	10x	as long as short
Reya CRVRUSDPERPlong	−0.0049%	1h	0.3682	long leg	$16	—	15x
Deribit CRV_USDC-PERPETUAL	−0.0022%	1h	0.3682	−0.003%	$57K	$48K	25x	as long as short
dYdX CRV-USD	0.0000%	1h	0.3680	−0.058%	$38K	$4K	10x	as long as short
Kraken Futures PF_CRVUSD	+0.0027%	1h	0.3686	+0.117%	$3.1M	$3.1M	50x	as long as short
Orderly PERP_CRV_USDC	+0.0095%	8h	0.3683	+0.024%	$25K	$930	10x	as long as short
Lighter CRV	+0.0096%	1h	0.3678	−0.111%	$415K	$703K	10x	as long as short
Aster CRVUSDT	+0.0100%	8h	0.3679	−0.091%	$131K	$186K	10x	as long as short
Pacifica CRV	+0.0100%	1h	0.3679	−0.071%	$380K	$189K	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	0.3677	−0.132%	$25.8M	$57.0M	75x	as long as short
Bybit CRVUSDTshort	+0.0100%	8h	0.3677	−0.138%	$27.9M	$17.1M	75x
OKX CRV-USDT-SWAP	+0.0100%	8h	0.3677	−0.138%	$8.8M	$22.2M	50x	as long as short
Gate CRV_USDT	+0.0100%	8h	0.3680	−0.057%	$2.0M	$1.3M	50x	as long as short
MEXC CRV_USDT	+0.0100%	8h	0.3676	−0.166%	$14.8M	$5.5M	125x	as long as short
KuCoin CRVUSDTM	+0.0100%	8h	0.3681	−0.030%	$7.2M	$9.1M	50x	as long as short
Bitget CRVUSDT	+0.0100%	8h	0.3678	−0.111%	$6.9M	$5.6M	75x	as long as short
BingX CRV-USDC	+0.0100%	8h	0.3678	−0.111%	—	$1.7M	—	as long as short
Variational Omni CRV	+0.0100%	8h	0.3676	−0.164%	$1.1M	$138K	—	as long as short
edgeX CRVUSDC	+0.0100%	4h	0.3680	−0.051%	$38K	$172K	20x	as long as short
GRVT CRV_USDT_Perp	+0.0100%	8h	0.3680	−0.057%	$513K	$437K	10x	as long as short
ApeX Omni CRVUSDT	+0.0100%	1h	0.3687	+0.133%	$61K	$695K	50x	as long as short
SunX CRV-USDT	+0.0100%	8h	0.3713	+0.839%	$2K	$1.3M	20x	as long as short
Extended CRV-USD	+0.0104%	1h	0.3676	−0.169%	$245K	$883K	25x	as long as short
Aevo CRV-PERP	+0.0104%	1h	0.3683	+0.011%	$19K	$9K	3x	as long as short
BloFin CRV-USDT	+0.0220%	8h	0.3680	−0.057%	$1.4M	$4.5M	75x	as long as short
Coinbase International CRV-PERP-INTX	+0.0376%	1h	0.3682	−0.003%	$387K	$4.8M	50x	as long as short
GMX CRV/USD [ETH-USDC]	L +0.0403% / S −0.0160%	1h	0.3684	+0.054%	$218K	—	100x	as long as short
Backpack CRV_USDC_PERP	+0.0406%	1h	0.3685	+0.087%	$108K	$362K	10x	as long as short
Hyperliquid CRV	+0.0428%	1h	0.3684	+0.046%	$22.9M	$16.6M	10x	as long as short