Funding arb · Price arb /

CRDO

RWAall CRDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.1520%/8h= −166.5% APRpaid last 24h −0.164%

Price spread now: Bybit against Paragon−0.038%7-day average +0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs−$163as in the Funding arb table

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$1201.198% of the position

Long on Paragon Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.433%−$43 on $10k

Price spread, last 4 days (all we have)+0.171%+$17 · spread now −0.038%, 7d avg +0.070%

Together, before fees−0.262%−$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$46 a day on $10k at the current rate, and Bybit is 0.109% cheaper against Paragon than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.070%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.433% in total (about -22.6% 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	Paragon para:CRDO	189.66	0.1520	pay 0.0190% / 1h	12m 23s	$1.3M	$460K	10x
Short	Bybit CRDOUSDT	189.59	0	get 0.0000% / 8h	5h 12m	$718K	$740K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.038%Rate

Funding earned: −$319.24
Price spread: −0.038% → +0.070%: −$10.86
Slippage, 4 orders: −$98.81
Fee Paragon: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$449.9
Costs to cover: 1.198%
Break-even: never at this rate

Slippage from Paragon: live order book, 5 min ago; Bybit: live order book, 47 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 Paragon live order book, 5 min ago	0.26 bp	38.5 bp −$39	58.2 bp −$582	doesn't fit	doesn't fit
Sell Bybit live order book, 47 min ago	5.29 bp	16.7 bp −$17	182.0 bp −$1,820	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	−0.0024%	1h	189.38	−0.149%	$1.1M	$2.7M	10x	as long as short
Aster CRDOUSDT	0.0000%	8h	189.52	−0.076%	$38K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	189.50	−0.086%	$4.2M	$8.1M	20x	as long as short
Bybit CRDOUSDTshort	0.0000%	8h	189.59	−0.038%	$718K	$740K	25x
OKX CRDO-USDT-SWAP	0.0000%	8h	189.39	−0.144%	$914K	$1.4M	20x	as long as short
Gate CRDO_USDT	0.0000%	8h	189.49	−0.091%	$658K	$120K	20x	as long as short
Bitget CRDOUSDT	0.0000%	8h	189.42	−0.128%	$1.7M	$1.6M	20x	as long as short
Variational Omni CRDO	0.0000%	8h	189.39	−0.145%	$222K	$59K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	189.40	−0.138%	$849	$115K	10x	as long as short
SunX CRDO-USDT	0.0000%	8h	189.50	−0.086%	$857	$516K	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	189.32	−0.181%	$8K	$39K	20x	as long as short
Extended CRDO_24_5-USD	+0.0040%	1h	189.48	−0.096%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	189.46	−0.107%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	189.40	−0.139%	$196K	$890K	20x	as long as short
Paragon para:CRDOlong	+0.1520%	1h	189.66	long leg	$1.3M	$460K	10x