Funding arb · Price arb /

CRDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0026%/8h= +2.9% APRpaid last 24h +0.003%

Price spread now: SunX against QFEX−0.444%7-day average +0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$192as in the Price arb table

costs, in and out, $10k−$1461.457% of the position

Long on QFEX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.392%+$39 · spread now −0.444%, 7d avg +0.018%

Together, before fees+0.397%+$40 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.462% cheaper against QFEX than usual: you would sell low and buy high (spread −0.444% now, against its 7-day average of +0.018%). If the spread goes back, that is −$46 on $10k: about 58 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.004% in total) that is about 12 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRDO-USD	189.33	−0.0026	get 0.0003% / 1h	17m 54s	$1.1M	$2.6M	10x
Short	SunX CRDO-USDT	188.49	0	get 0.0000% / 8h	4h 17m	$1K	$513K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against QFEX. 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 QFEXbpFee SunXbpOrdersPrice spread, now −0.444%Rate

Funding earned: $5.53
Price spread: −0.444% → +0.018%: −$46.16
Slippage, 4 orders: −$127.67
Fee QFEX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$186.3
Costs to cover: 1.457%
Break-even: 242.9 days

Slippage from QFEX: live order book, 5 min ago; SunX: 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 QFEX live order book, 5 min ago	1.85 bp	7.3 bp −$7	13.9 bp −$139	doesn't fit	doesn't fit
Sell SunX live order book, 3 min ago	46.69 bp	65.6 bp −$66	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-USDlong	−0.0026%	1h	189.33	long leg	$1.1M	$2.6M	10x
Aster CRDOUSDT	0.0000%	8h	189.52	+0.103%	$38K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	189.35	+0.011%	$4.2M	$8.1M	20x	as long as short
Bybit CRDOUSDT	0.0000%	8h	189.42	+0.048%	$717K	$729K	25x	as long as short
OKX CRDO-USDT-SWAP	0.0000%	8h	189.57	+0.127%	$947K	$1.4M	20x	as long as short
Gate CRDO_USDT	0.0000%	8h	189.52	+0.100%	$659K	$120K	20x	as long as short
Bitget CRDOUSDT	0.0000%	8h	189.48	+0.079%	$1.7M	$1.6M	20x	as long as short
Variational Omni CRDO	0.0000%	8h	189.54	+0.114%	$222K	$59K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	189.45	+0.063%	$417	$114K	10x	as long as short
SunX CRDO-USDTshort	0.0000%	8h	188.49	−0.444%	$1K	$513K	10x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX CRDO-USDT	0.0000%	8h	189.14	−0.100%	$8K	$40K	20x	as long as short
Extended CRDO_24_5-USD	+0.0040%	1h	189.32	−0.003%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	189.39	+0.032%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	189.34	+0.005%	$196K	$880K	20x	as long as short
Paragon para:CRDO	+0.1603%	1h	189.78	+0.238%	$1.3M	$460K	10x	as long as short