Funding arb · Price arb /

CRM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.009%

Price spread now: Binance against Injective−0.386%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Binance

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 against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.386% cheaper against Injective than usual: you would sell low and buy high (−$39 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective CRM/USDC PERP	238.14	0.0033	pay 0.0004% / 1h	36m 46s	$12K	$24K	12x
Short	Binance CRMUSDT	237.22	0	get 0.0000% / 8h	7h 36m	$1.8M	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now −0.386%Rate

Funding earned: −$7
Price spread: −0.386% → 0.000%: −$38.63
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: −$55.65
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Binance: live order book, 12 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 12 min ago	4.00 bp	20.0 bp −$20	60.4 bp −$604	doesn't fit	doesn't fit

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
Aster CRMUSDT	0.0000%	8h	237.29	−0.359%	$11K	$2K	20x	as long as short
Binance CRMUSDTshort	0.0000%	8h	237.22	−0.386%	$1.8M	$1.4M	20x
Bybit CRMUSDT	0.0000%	8h	237.18	−0.403%	$261K	$90K	25x	as long as short
OKX CRM-USDT-SWAP	0.0000%	8h	237.20	−0.395%	$457K	$138K	10x	as long as short
Gate CRM_USDT	0.0000%	8h	237.38	−0.319%	$223K	$22K	20x	as long as short
Bitget CRMUSDT	0.0000%	8h	237.21	−0.391%	$444K	$55K	20x	as long as short
Variational Omni CRM	0.0000%	8h	237.37	−0.324%	$46K	$40K	—	as long as short
SunX CRM-USDT	0.0000%	8h	237.36	−0.328%	$743	$298K	10x	as long as short
HTX CRM-USDT	0.0000%	8h	237.43	−0.298%	$10K	$26K	20x	as long as short
Injective CRM/USDC PERPlong	+0.0033%	1h	238.14	long leg	$12K	$24K	12x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRM-USD	+0.0042%	1h	237.17	−0.407%	$1.5M	$12.2M	10x	as long as short
GRVT CRM_USDT_Perp	+0.0087%	8h	237.52	−0.262%	$784	$115K	10x	as long as short
KuCoin CRMUSDTM	+0.0100%	8h	237.19	−0.399%	$103K	$613K	20x	as long as short
edgeX CRMUSDC	+0.0631%	4h	237.34	−0.336%	$96K	$230K	10x	as long as short