Funding arb · Price arb /

CRDO

RWAall CRDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0341%/8h= −37.3% APRpaid last 24h −0.133%

Price spread now: KuCoin against Paragon−0.082%50s7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$552as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$5175.167% of the position

Long on Paragon Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.350%−$35 on $10k

Price spread, last 4 days (all we have)+0.049%+$5 · spread now −0.082%, 7d avg −0.018%

Together, before fees−0.301%−$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and KuCoin is 0.064% cheaper against Paragon than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.018%). Swap the legs. The two prices were read 50 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	188.63	0.0441	pay 0.0055% / 1h	38m 48s	$937K	$252K	10x
Short	KuCoin CRDOUSDTM	188.47	0.0100	get 0.0100% / 8h	38m 48s	$190K	$923K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.082%Rate

Funding earned: −$71.62
Price spread: −0.082% → −0.018%: −$6.41
Slippage, 4 orders: −$494.7
Fee Paragon: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$594.73
Costs to cover: 5.167%
Break-even: never at this rate

Slippage from Paragon: live order book, 27 min ago; KuCoin: live order book, 30 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, 27 min ago	4.52 bp	27.7 bp −$28	47.9 bp −$479	doesn't fit	doesn't fit
Sell KuCoin live order book, 30 min ago	4.79 bp	226.9 bp −$227	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
QFEX CRDO-USD	−0.0027%	1h	188.57	−0.029%	$1.1M	$3.1M	10x	as long as short
Aster CRDOUSDT	0.0000%	8h	188.58	−0.022%	$38K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	188.59	−0.019%	$4.2M	$8.5M	20x	as long as short
Bybit CRDOUSDT	0.0000%	8h	188.60	−0.013%	$730K	$819K	25x	as long as short
OKX CRDO-USDT-SWAP	0.0000%	8h	188.70	+0.040%	$888K	$1.6M	20x	as long as short
Gate CRDO_USDT	0.0000%	8h	188.61	−0.008%	$656K	$140K	20x	as long as short
Bitget CRDOUSDT	0.0000%	8h	188.61	−0.008%	$1.7M	$1.7M	20x	as long as short
Variational Omni CRDO	0.0000%	8h	188.48	−0.076%	$201K	$34K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	188.49	−0.073%	$746	$141K	10x	as long as short
SunX CRDO-USDT	0.0000%	8h	188.52	−0.056%	$1K	$620K	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	188.51	−0.061%	$8K	$38K	20x	as long as short
Extended CRDO_24_5-USD	+0.0040%	1h	188.46	−0.089%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	188.55	−0.040%	—	—	5x	as long as short
KuCoin CRDOUSDTMshort	+0.0100%	8h	188.47	−0.082%	$190K	$923K	20x
Paragon para:CRDOlong	+0.0441%	1h	188.63	long leg	$937K	$252K	10x