Funding arb · Price arb /

CRDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.2877%/8h= +315.0% APRpaid last 24h +0.198%

Price spread now: Paragon against Bitget+0.036%46s7-day average −0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$930.932% of the position

Long on Bitget Short on Paragon

What this pair did over the last

the charts below follow

Funding, last 7 days+0.465%+$46 on $10k

Price spread, last 7 days−0.091%−$9 · spread now +0.036%, 7d avg −0.062%

Together, before fees+0.374%+$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$86 a day on $10k at the current rate, and Paragon is 0.098% dearer against Bitget than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.062%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.465% in total (about 24.2% 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	Bitget CRDOUSDT	182.34	−0.1991	get 0.1991% / 8h	2h 12m	$1.7M	$1.8M	20x
Short	Paragon para:CRDO	182.40	0.0886	get 0.0111% / 1h	12m 53s	$1.2M	$488K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon against Bitget. 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 BitgetbpFee ParagonbpOrdersPrice spread, now +0.036%Rate

Funding earned: $604.2
Price spread: +0.036% → −0.062%: $9.75
Slippage, 4 orders: −$71.16
Fee Bitget: 6 bp × 2 orders: −$12
Fee Paragon: 5 bp × 2 orders: −$10
Net: $520.79
Costs to cover: 0.932%
Break-even: 1.0 days

Slippage from Bitget: live order book, 4 min ago; Paragon: 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 Bitget live order book, 4 min ago	11.00 bp	21.1 bp −$21	93.0 bp −$930	doesn't fit	doesn't fit
Sell Paragon live order book, 4 min ago	5.22 bp	24.5 bp −$24	44.4 bp −$444	doesn't fit	doesn't fit

CRDO on 15 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
Bitget CRDOUSDTlong	−0.1991%	8h	182.34	long leg	$1.7M	$1.8M	20x
QFEX CRDO-USD	−0.0006%	1h	182.17	−0.093%	$1.1M	$2.4M	10x	as long as short
Aster CRDOUSDT	0.0000%	8h	182.24	−0.055%	$37K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	182.31	−0.018%	$4.0M	$9.2M	20x	as long as short
Bybit CRDOUSDT	0.0000%	8h	182.37	+0.016%	$703K	$773K	25x	as long as short
OKX CRDO-USDT-SWAP	0.0000%	8h	182.38	+0.022%	$922K	$1.6M	20x	as long as short
Gate CRDO_USDT	0.0000%	8h	182.30	−0.022%	$626K	$139K	20x	as long as short
Variational Omni CRDO	0.0000%	8h	181.62	−0.398%	$197K	$133K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	181.48	−0.472%	$976	$130K	10x	as long as short
SunX CRDO-USDT	0.0000%	8h	182.04	−0.165%	$735	$509K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX CRDO-USDT	0.0000%	8h	181.22	−0.614%	$8K	$41K	20x	as long as short
Extended CRDO_24_5-USD	+0.0040%	1h	182.20	−0.077%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	182.08	−0.143%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	182.14	−0.110%	$194K	$843K	20x	as long as short
Paragon para:CRDOshort	+0.0886%	1h	182.40	+0.036%	$1.2M	$488K	10x