Funding arb · Price arb /

CRDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h −0.003%

Price spread now: QFEX against Bybit−0.049%7-day average −0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$580.579% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.103%−$10 on $10k

Price spread, last 4 days (all we have)−0.504%−$50 · spread now −0.049%, 7d avg −0.096%

Together, before fees−0.607%−$61 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: QFEX is 0.047% dearer against Bybit than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.096%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CRDOUSDT	184.17	0	get 0.0000% / 8h	6h 59m	$693K	$695K	25x
Short	QFEX CRDO-USD	184.08	−0.0001	pay 0.0000% / 1h	59m 35s	$1.1M	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$0.17
Price spread: −0.049% → −0.096%: $4.69
Slippage, 4 orders: −$36.91
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$53.39
Costs to cover: 0.579%
Break-even: never at this rate

Slippage from Bybit: live order book, 30 min ago; QFEX: live order book, 3 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, 30 min ago	6.08 bp	20.3 bp −$20	186.4 bp −$1,864	doesn't fit	doesn't fit
Sell QFEX live order book, 3 min ago	1.63 bp	8.6 bp −$9	doesn't fit	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 CRDOUSDT	−0.0695%	8h	184.31	+0.076%	$1.8M	$1.9M	20x	as long as short
QFEX CRDO-USDshort	−0.0001%	1h	184.08	−0.049%	$1.1M	$2.2M	10x
Aster CRDOUSDT	0.0000%	8h	183.71	−0.250%	$37K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	184.12	−0.027%	$4.1M	$9.7M	20x	as long as short
Bybit CRDOUSDTlong	0.0000%	8h	184.17	long leg	$693K	$695K	25x
OKX CRDO-USDT-SWAP	0.0000%	8h	184.40	+0.125%	$943K	$1.8M	20x	as long as short
Gate CRDO_USDT	0.0000%	8h	184.08	−0.049%	$634K	$134K	20x	as long as short
Variational Omni CRDO	0.0000%	8h	183.84	−0.181%	$200K	$132K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	184.11	−0.033%	$422	$130K	10x	as long as short
SunX CRDO-USDT	0.0000%	8h	184.12	−0.027%	$974	$418K	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	184.45	+0.152%	$8K	$42K	20x	as long as short
Extended CRDO_24_5-USD	+0.0040%	1h	183.65	−0.285%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	184.07	−0.054%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	184.12	−0.027%	$192K	$878K	20x	as long as short
Paragon para:CRDO	+0.0967%	1h	184.33	+0.087%	$1.3M	$484K	10x	as long as short