Funding arb · Price arb /

CRDO

RWAall CRDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1603%/8h= +175.5% APRpaid last 24h +0.179%

Price spread now: Paragon against Bybit+0.190%7-day average −0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$960.960% of the position

Long on Bybit Short on Paragon

What this pair did over the last

the charts below follow

Funding, last 7 days+0.439%+$44 on $10k

Price spread, last 4 days (all we have)−0.305%−$31 · spread now +0.190%, 7d avg −0.069%

Together, before fees+0.133%+$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$48 a day on $10k at the current rate, and Paragon is 0.259% dearer against Bybit than usual: you sell high and buy low: +$26 more if the spread goes back to its 7-day average of −0.069%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.439% in total (about 22.9% 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	Bybit CRDOUSDT	189.42	0	get 0.0000% / 8h	4h 18m	$717K	$729K	25x
Short	Paragon para:CRDO	189.78	0.1603	get 0.0200% / 1h	18m 11s	$1.3M	$460K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon against Bybit. 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 BybitbpFee ParagonbpOrdersPrice spread, now +0.190%Rate

Funding earned: $336.55
Price spread: +0.190% → −0.069%: $25.94
Slippage, 4 orders: −$75.04
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Paragon: 5 bp × 2 orders: −$10
Net: $266.45
Costs to cover: 0.960%
Break-even: 1.5 days

Slippage from Bybit: live order book, 37 min ago; Paragon: live order book, 8 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 Bybit live order book, 37 min ago	3.16 bp	16.8 bp −$17	180.6 bp −$1,806	doesn't fit	doesn't fit
Sell Paragon live order book, 8 min ago	9.50 bp	17.3 bp −$17	39.1 bp −$391	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
QFEX CRDO-USD	−0.0026%	1h	189.33	−0.048%	$1.1M	$2.6M	10x	as long as short
Aster CRDOUSDT	0.0000%	8h	189.55	+0.067%	$38K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	189.35	−0.037%	$4.2M	$8.1M	20x	as long as short
Bybit CRDOUSDTlong	0.0000%	8h	189.42	long leg	$717K	$729K	25x
OKX CRDO-USDT-SWAP	0.0000%	8h	189.57	+0.079%	$947K	$1.4M	20x	as long as short
Gate CRDO_USDT	0.0000%	8h	189.55	+0.069%	$659K	$120K	20x	as long as short
Bitget CRDOUSDT	0.0000%	8h	189.48	+0.032%	$1.7M	$1.6M	20x	as long as short
Variational Omni CRDO	0.0000%	8h	189.54	+0.066%	$222K	$59K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	189.45	+0.016%	$417	$114K	10x	as long as short
SunX CRDO-USDT	0.0000%	8h	188.49	−0.491%	$1K	$513K	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	189.14	−0.148%	$8K	$40K	20x	as long as short
Extended CRDO_24_5-USD	+0.0040%	1h	189.32	−0.050%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	189.39	−0.016%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	189.33	−0.048%	$197K	$880K	20x	as long as short
Paragon para:CRDOshort	+0.1603%	1h	189.78	+0.190%	$1.3M	$460K	10x