Funding arb · Price arb /

CRDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1702%/8h= +186.4% APRpaid last 24h +0.148%

Price spread now: Paragon against Gate+0.164%7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$1381.383% of the position

Long on Gate Short on Paragon

What this pair did over the last

the charts below follow

Funding, last 7 days+0.569%+$57 on $10k

Price spread, last 4 days (all we have)−0.103%−$10 · spread now +0.164%, 7d avg −0.017%

Together, before fees+0.466%+$47 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$51 a day on $10k at the current rate, and Paragon is 0.181% dearer against Gate than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.017%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.569% in total (about 29.7% 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	Gate CRDO_USDT	189.20	0	get 0.0000% / 8h	6h 03m	$658K	$120K	20x
Short	Paragon para:CRDO	189.51	0.1702	get 0.0213% / 1h	3m 48s	$1.3M	$449K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon against Gate. 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 GatebpFee ParagonbpOrdersPrice spread, now +0.164%Rate

Funding earned: $357.45
Price spread: +0.164% → −0.017%: $18.05
Slippage, 4 orders: −$113.25
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Paragon: 5 bp × 2 orders: −$10
Net: $237.25
Costs to cover: 1.383%
Break-even: 2.4 days

Slippage from Gate: live order book, 63 min ago; Paragon: 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 Gate live order book, 63 min ago	6.82 bp	62.1 bp −$62	doesn't fit	doesn't fit	doesn't fit
Sell Paragon live order book, 3 min ago	5.02 bp	27.0 bp −$27	62.7 bp −$627	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	−0.0017%	1h	188.96	−0.127%	$1.1M	$2.9M	10x	as long as short
Aster CRDOUSDT	0.0000%	8h	189.38	+0.094%	$38K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	189.10	−0.053%	$4.2M	$8.2M	20x	as long as short
Bybit CRDOUSDT	0.0000%	8h	189.20	0.000%	$714K	$741K	25x	as long as short
OKX CRDO-USDT-SWAP	0.0000%	8h	189.06	−0.074%	$910K	$1.4M	20x	as long as short
Gate CRDO_USDTlong	0.0000%	8h	189.20	long leg	$658K	$120K	20x
Bitget CRDOUSDT	0.0000%	8h	189.12	−0.042%	$1.7M	$1.6M	20x	as long as short
Variational Omni CRDO	0.0000%	8h	188.47	−0.385%	$221K	$59K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	188.33	−0.460%	$987	$114K	10x	as long as short
SunX CRDO-USDT	0.0000%	8h	189.01	−0.100%	$943	$530K	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	188.40	−0.423%	$8K	$39K	20x	as long as short
Extended CRDO_24_5-USD	+0.0040%	1h	189.30	+0.053%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	188.99	−0.111%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	188.96	−0.127%	$194K	$898K	20x	as long as short
Paragon para:CRDOshort	+0.1702%	1h	189.51	+0.164%	$1.3M	$449K	10x