Funding arb · Price arb /

CRM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.016%

Price spread now: Injective against Bitget+0.630%61s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Injective is 0.630% dearer against Bitget than usual: you sell high and buy low: +$63 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 61 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	Bitget CRMUSDT	236.65	0	get 0.0000% / 8h	4h 46m	$443K	$31K	20x
Short	Injective CRM/USDC PERP	238.14	0.0033	get 0.0004% / 1h	46m 19s	$12K	$12K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.630%Rate

Funding earned: $7
Price spread: +0.630% → 0.000%: $62.96
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $57.94
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Bitget: live order book, 4 min ago; Injective: no order-book sample. Net counts fees only.

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, 4 min ago	8.66 bp	37.8 bp −$38	93.1 bp −$931	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0732%	4h	236.76	+0.045%	$96K	$230K	10x	as long as short
Aster CRMUSDT	0.0000%	8h	236.84	+0.079%	$11K	$2K	20x	as long as short
Binance CRMUSDT	0.0000%	8h	236.71	+0.025%	$1.8M	$1.4M	20x	as long as short
Bybit CRMUSDT	0.0000%	8h	236.78	+0.055%	$263K	$71K	25x	as long as short
OKX CRM-USDT-SWAP	0.0000%	8h	236.98	+0.139%	$457K	$138K	10x	as long as short
Gate CRM_USDT	0.0000%	8h	236.73	+0.034%	$221K	$29K	20x	as long as short
Bitget CRMUSDTlong	0.0000%	8h	236.65	long leg	$443K	$31K	20x
Variational Omni CRM	0.0000%	8h	236.76	+0.045%	$49K	$44K	—	as long as short
GRVT CRM_USDT_Perp	0.0000%	8h	236.59	−0.027%	$781	$117K	10x	as long as short
SunX CRM-USDT	0.0000%	8h	236.80	+0.063%	$829	$269K	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	236.87	+0.093%	$10K	$27K	20x	as long as short
QFEX CRM-USD	+0.0003%	1h	236.71	+0.025%	$1.1M	$6.8M	10x	as long as short
Injective CRM/USDC PERPshort	+0.0033%	1h	238.14	+0.630%	$12K	$12K	12x
KuCoin CRMUSDTM	+0.0100%	8h	236.61	−0.017%	$99K	$531K	20x	as long as short