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 Bybit+0.617%48s7-day average — · you sell dearer than you buy

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

Long on Bybit 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 0.617% dearer against Bybit than usual: you sell high and buy low: +$62 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 48 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	Bybit CRMUSDT	236.68	0	get 0.0000% / 8h	4h 24m	$262K	$72K	25x
Short	Injective CRM/USDC PERP	238.14	0.0033	get 0.0004% / 1h	24m 31s	$12K	$12K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bybit. 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 BybitbpFee InjectivebpOrdersPrice spread, now +0.617%Rate

Funding earned: $7
Price spread: +0.617% → 0.000%: $61.69
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $57.67
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 16 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 Bybit live order book, 16 min ago	4.02 bp	108.3 bp −$108	doesn't fit	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	−0.0704%	4h	236.83	+0.063%	$96K	$229K	10x	as long as short
Aster CRMUSDT	0.0000%	8h	236.81	+0.055%	$11K	$2K	20x	as long as short
Binance CRMUSDT	0.0000%	8h	236.87	+0.079%	$1.8M	$1.4M	20x	as long as short
Bybit CRMUSDTlong	0.0000%	8h	236.68	long leg	$262K	$72K	25x
OKX CRM-USDT-SWAP	0.0000%	8h	236.64	−0.017%	$456K	$138K	10x	as long as short
Gate CRM_USDT	0.0000%	8h	236.94	+0.110%	$221K	$29K	20x	as long as short
Bitget CRMUSDT	0.0000%	8h	236.67	−0.004%	$443K	$31K	20x	as long as short
Variational Omni CRM	0.0000%	8h	236.84	+0.066%	$49K	$44K	—	as long as short
GRVT CRM_USDT_Perp	0.0000%	8h	236.82	+0.060%	$485	$116K	10x	as long as short
SunX CRM-USDT	0.0000%	8h	236.87	+0.080%	$900	$270K	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	236.95	+0.114%	$10K	$27K	20x	as long as short
QFEX CRM-USD	+0.0003%	1h	236.85	+0.072%	$1.1M	$6.1M	10x	as long as short
Injective CRM/USDC PERPshort	+0.0033%	1h	238.14	+0.617%	$12K	$12K	12x
KuCoin CRMUSDTM	+0.0100%	8h	236.68	0.000%	$98K	$523K	20x	as long as short