Funding arb · Price arb /

CRDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.063%

Price spread now: Variational Omni against Bybit−0.034%7-day average −0.074% · you buy dearer than you sell

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.022%−$2 on $10k

Price spread, last 3 days (all we have)+0.121%+$12 · spread now −0.034%, 7d avg −0.074%

Together, before fees+0.100%+ Points / potential airdropVariational Omni: Active · farm board+$10 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: Variational Omni is 0.040% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.074%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CRDOUSDT	188.50	0	get 0.0000% / 8h	50m 15s	$730K	$821K	25x
Short	Variational Omni CRDO	188.44	0	get 0.0000% / 8h	50m 15s	$201K	$34K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.034%Rate

Funding earned: $0
Price spread: −0.034% → −0.074%: $4.05
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$6.95
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 25 min ago; Variational Omni: RFQ quote, 29 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 Bybit live order book, 25 min ago	3.99 bp	44.0 bp −$44	170.8 bp −$1,708	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 29 min ago	5.69 bp	doesn't fit	84.1 bp −$841	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	−0.0027%	1h	188.37	−0.069%	$1.1M	$3.1M	10x	as long as short
Aster CRDOUSDT	0.0000%	8h	188.49	−0.003%	$38K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	188.47	−0.016%	$4.2M	$8.5M	20x	as long as short
Bybit CRDOUSDTlong	0.0000%	8h	188.50	long leg	$730K	$821K	25x
OKX CRDO-USDT-SWAP	0.0000%	8h	188.49	−0.005%	$887K	$1.6M	20x	as long as short
Gate CRDO_USDT	0.0000%	8h	188.58	+0.042%	$656K	$140K	20x	as long as short
Bitget CRDOUSDT	0.0000%	8h	188.51	+0.005%	$1.7M	$1.7M	20x	as long as short
Variational Omni CRDOshort	0.0000%	8h	188.44	−0.034%	$201K	$34K	—
GRVT CRDO_USDT_Perp	0.0000%	8h	188.31	−0.100%	$751	$142K	10x	as long as short
SunX CRDO-USDT	0.0000%	8h	188.46	−0.021%	$874	$619K	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	188.49	−0.005%	$8K	$38K	20x	as long as short
Extended CRDO_24_5-USD	+0.0040%	1h	188.50	+0.002%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	188.34	−0.085%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	188.34	−0.085%	$192K	$928K	20x	as long as short
Paragon para:CRDO	+0.0557%	1h	188.58	+0.042%	$937K	$252K	10x	as long as short