Funding arb · Price arb /

CRM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0766%/8h= −83.9% APRpaid last 24h +0.061%

Price spread now: edgeX against Bitget+0.027%84s7-day average +0.095% · you sell dearer than you buy

Net, funding: paid 7d − costs−$134as 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−$1391.393% of the position

Long on Bitget Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 4 days (all we have)−0.441%−$44 · spread now +0.027%, 7d avg +0.095%

Together, before fees−0.391%+ Points / potential airdropedgeX: Active · farm board−$39 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$23 a day on $10k at the current rate, and edgeX is 0.069% cheaper against Bitget than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.095%). Swap the legs. The two prices were read 84 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.050% in total (about 2.6% 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	Bitget CRMUSDT	238.37	0	get 0.0000% / 8h	40m 06s	$446K	$31K	20x
Short	edgeX CRMUSDC	238.43	−0.0766	pay 0.0383% / 4h	40m 06s	$96K	$228K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Bitget. 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 BitgetbpFee edgeXbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$160.92
Price spread: +0.027% → +0.095%: −$6.87
Slippage, 4 orders: −$118.33
Fee Bitget: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$307.11
Costs to cover: 1.393%
Break-even: never at this rate

Slippage from Bitget: live order book, 56 min ago; edgeX: live order book, 62 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 Bitget live order book, 56 min ago	9.86 bp	62.2 bp −$62	98.1 bp −$981	doesn't fit	doesn't fit
Sell edgeX live order book, 62 min ago	14.86 bp	26.2 bp −$26	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 CRMUSDCshort	−0.0766%	4h	238.43	+0.027%	$96K	$228K	10x
Aster CRMUSDT	0.0000%	8h	238.49	+0.051%	$11K	$2K	20x	as long as short
Binance CRMUSDT	0.0000%	8h	238.57	+0.084%	$1.8M	$1.4M	20x	as long as short
Bybit CRMUSDT	0.0000%	8h	238.15	−0.092%	$262K	$75K	25x	as long as short
OKX CRM-USDT-SWAP	0.0000%	8h	238.75	+0.159%	$459K	$138K	10x	as long as short
Gate CRM_USDT	0.0000%	8h	238.56	+0.080%	$216K	$29K	20x	as long as short
Bitget CRMUSDTlong	0.0000%	8h	238.37	long leg	$446K	$31K	20x
Variational Omni CRM	0.0000%	8h	238.42	+0.020%	$52K	$46K	—	as long as short
GRVT CRM_USDT_Perp	0.0000%	8h	238.45	+0.032%	$1K	$116K	10x	as long as short
SunX CRM-USDT	0.0000%	8h	238.47	+0.042%	$596	$263K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX CRM-USDT	0.0000%	8h	238.56	+0.080%	$10K	$31K	20x	as long as short
Injective CRM/USDC PERP	+0.0033%	1h	238.14	−0.096%	$12K	$10K	12x	as long as short
QFEX CRM-USD	+0.0041%	1h	238.37	0.000%	$1.1M	$3.9M	10x	as long as short
KuCoin CRMUSDTM	+0.0100%	8h	238.32	−0.021%	$98K	$418K	20x	as long as short