Funding arb · Price arb /

CRDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0886%/8h= −97.0% APRpaid last 24h −0.198%

Price spread now: Aster against Paragon−0.090%53s7-day average — · you buy dearer than you sell

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

Long on Paragon Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and Aster is 0.090% cheaper against Paragon than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paragon para:CRDO	182.40	0.0886	pay 0.0111% / 1h	12m 54s	$1.2M	$488K	10x
Short	Aster CRDOUSDT	182.24	0	get 0.0000% / 8h	2h 12m	$37K	$11K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Paragon. 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 ParagonbpFee AsterbpOrdersPrice spread, now −0.090%Rate

Funding earned: −$186.09
Price spread: −0.090% → 0.000%: −$9.02
Slippage, 4 orders: no order book: not counted
Fee Paragon: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$213.11
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Paragon: live order book, 4 min ago; Aster: no order-book sample. 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 Paragon live order book, 4 min ago	5.22 bp	26.8 bp −$27	52.3 bp −$523	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1991%	8h	182.34	−0.036%	$1.7M	$1.8M	20x	as long as short
QFEX CRDO-USD	−0.0006%	1h	182.17	−0.129%	$1.1M	$2.4M	10x	as long as short
Aster CRDOUSDTshort	0.0000%	8h	182.24	−0.090%	$37K	$11K	20x
Binance CRDOUSDT	0.0000%	8h	182.31	−0.053%	$4.0M	$9.2M	20x	as long as short
Bybit CRDOUSDT	0.0000%	8h	182.37	−0.019%	$703K	$773K	25x	as long as short
OKX CRDO-USDT-SWAP	0.0000%	8h	182.38	−0.014%	$922K	$1.6M	20x	as long as short
Gate CRDO_USDT	0.0000%	8h	182.30	−0.057%	$626K	$139K	20x	as long as short
Variational Omni CRDO	0.0000%	8h	181.62	−0.433%	$197K	$133K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	181.48	−0.507%	$976	$130K	10x	as long as short
SunX CRDO-USDT	0.0000%	8h	182.04	−0.200%	$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	−0.650%	$8K	$41K	20x	as long as short
Extended CRDO_24_5-USD	+0.0040%	1h	182.20	−0.112%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	182.08	−0.178%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	182.14	−0.145%	$194K	$843K	20x	as long as short
Paragon para:CRDOlong	+0.0886%	1h	182.40	long leg	$1.2M	$488K	10x