Funding arb · Price arb /

CRM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Binance−0.199%7-day average −0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$125as in the Price arb table

costs, in and out, $10k−$1121.121% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.175%+$17 on $10k

Price spread, last 4 days (all we have)+0.147%+$15 · spread now −0.199%, 7d avg −0.066%

Together, before fees+0.322%+$32 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.133% cheaper against Binance than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CRMUSDT	238.88	0	get 0.0000% / 8h	7h 52m	$1.8M	$1.4M	20x
Short	Bybit CRMUSDT	238.40	0	get 0.0000% / 8h	7h 52m	$263K	$75K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now −0.199%Rate

Funding earned: $0
Price spread: −0.199% → −0.066%: −$13.29
Slippage, 4 orders: −$91.14
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$125.43
Costs to cover: 1.121%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; Bybit: live order book, 28 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 Binance live order book, 11 min ago	3.35 bp	10.0 bp −$10	46.1 bp −$461	doesn't fit	doesn't fit
Sell Bybit live order book, 28 min ago	8.81 bp	29.7 bp −$30	doesn't fit	doesn't fit	doesn't fit

CRM on 14 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
edgeX CRMUSDC	−0.0332%	4h	238.78	−0.041%	$96K	$229K	10x	as long as short
Aster CRMUSDT	0.0000%	8h	238.74	−0.056%	$11K	$2K	20x	as long as short
Binance CRMUSDTlong	0.0000%	8h	238.88	long leg	$1.8M	$1.4M	20x
Bybit CRMUSDTshort	0.0000%	8h	238.40	−0.199%	$263K	$75K	25x
OKX CRM-USDT-SWAP	0.0000%	8h	238.72	−0.065%	$463K	$143K	10x	as long as short
Gate CRM_USDT	0.0000%	8h	238.75	−0.053%	$216K	$29K	20x	as long as short
Bitget CRMUSDT	0.0000%	8h	238.49	−0.162%	$446K	$30K	20x	as long as short
Variational Omni CRM	0.0000%	8h	238.78	−0.040%	$54K	$47K	—	as long as short
SunX CRM-USDT	0.0000%	8h	238.82	−0.024%	$843	$255K	10x	as long as short
HTX CRM-USDT	0.0000%	8h	238.93	+0.023%	$10K	$31K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective CRM/USDC PERP	+0.0033%	1h	238.14	−0.308%	$12K	$10K	12x	as long as short
QFEX CRM-USD	+0.0071%	1h	239.18	+0.127%	$1.1M	$3.9M	10x	as long as short
KuCoin CRMUSDTM	+0.0100%	8h	238.45	−0.178%	$99K	$462K	20x	as long as short
GRVT CRM_USDT_Perp	+0.0617%	8h	238.69	−0.077%	$391	$111K	10x	as long as short