Funding arb · Price arb /

CRDO

RWAall CRDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0017%/8h= −1.8% APRpaid last 24h −0.003%

Price spread now: QFEX against SunX−0.053%7-day average −0.017% · 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−$153as in the Price arb table

costs, in and out, $10k−$1491.489% of the position

Long on SunX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.004%$0 on $10k

Price spread, last 3 days (all we have)+0.061%+$6 · spread now −0.053%, 7d avg −0.017%

Together, before fees+0.057%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and QFEX is 0.036% cheaper against SunX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.017%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX CRDO-USDT	188.92	0	get 0.0000% / 8h	6h 21m	$962	$550K	10x
Short	QFEX CRDO-USD	188.82	−0.0017	pay 0.0002% / 1h	21m 19s	$1.1M	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against SunX. 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 SunXbpFee QFEXbpOrdersPrice spread, now −0.053%Rate

Funding earned: −$3.54
Price spread: −0.053% → −0.017%: −$3.63
Slippage, 4 orders: −$130.95
Fee SunX: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$156.13
Costs to cover: 1.489%
Break-even: never at this rate

Slippage from SunX: live order book, 20 min ago; QFEX: live order book, 7 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 SunX live order book, 20 min ago	46.90 bp	65.5 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 7 min ago	2.12 bp	7.9 bp −$8	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-USDshort	−0.0017%	1h	188.82	−0.053%	$1.1M	$2.9M	10x
Aster CRDOUSDT	0.0000%	8h	189.10	+0.097%	$38K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	188.86	−0.032%	$4.2M	$8.2M	20x	as long as short
Bybit CRDOUSDT	0.0000%	8h	189.04	+0.064%	$715K	$745K	25x	as long as short
OKX CRDO-USDT-SWAP	0.0000%	8h	188.89	−0.016%	$909K	$1.4M	20x	as long as short
Gate CRDO_USDT	0.0000%	8h	189.12	+0.106%	$658K	$120K	20x	as long as short
Bitget CRDOUSDT	0.0000%	8h	188.96	+0.021%	$1.7M	$1.6M	20x	as long as short
Variational Omni CRDO	0.0000%	8h	188.98	+0.031%	$221K	$59K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	189.07	+0.078%	$238	$130K	10x	as long as short
SunX CRDO-USDTlong	0.0000%	8h	188.92	long leg	$962	$550K	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	189.13	+0.111%	$8K	$39K	20x	as long as short
Extended CRDO_24_5-USD	+0.0040%	1h	188.91	−0.003%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	189.05	+0.069%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	188.81	−0.058%	$195K	$899K	20x	as long as short
Paragon para:CRDO	+0.1778%	1h	189.60	+0.360%	$1.3M	$471K	10x	as long as short