Funding arb · Price arb /

CRM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.006%

Price spread now: HTX against Injective−0.328%65s7-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 HTX

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 HTX is 0.328% cheaper against Injective than usual: you would sell low and buy high (−$33 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 65 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	Injective CRM/USDC PERP	238.14	0.0033	pay 0.0004% / 1h	17m 32s	$12K	$24K	12x
Short	HTX CRM-USDT	237.36	0	get 0.0000% / 8h	17m 32s	$10K	$25K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.328%Rate

Funding earned: −$7
Price spread: −0.328% → 0.000%: −$32.75
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee HTX: 6 bp × 2 orders: −$12
Net: −$51.77
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; HTX: 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 Injective no order-book sample	—	—	—	—	—
Sell HTX no order-book sample	—	—	—	—	—

Injective and HTX: 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	−0.0093%	4h	237.16	−0.411%	$96K	$231K	10x	as long as short
QFEX CRM-USD	−0.0013%	1h	237.24	−0.378%	$1.5M	$12.1M	10x	as long as short
Aster CRMUSDT	0.0000%	8h	237.63	−0.214%	$11K	$2K	20x	as long as short
Binance CRMUSDT	0.0000%	8h	237.33	−0.339%	$1.8M	$1.6M	20x	as long as short
Bybit CRMUSDT	0.0000%	8h	237.12	−0.428%	$261K	$98K	25x	as long as short
OKX CRM-USDT-SWAP	0.0000%	8h	237.02	−0.470%	$458K	$141K	10x	as long as short
Gate CRM_USDT	0.0000%	8h	237.30	−0.353%	$223K	$21K	20x	as long as short
Bitget CRMUSDT	0.0000%	8h	237.10	−0.437%	$445K	$80K	20x	as long as short
Variational Omni CRM	0.0000%	8h	237.12	−0.429%	$46K	$40K	—	as long as short
GRVT CRM_USDT_Perp	0.0000%	8h	237.17	−0.408%	$809	$115K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX CRM-USDT	0.0000%	8h	237.15	−0.416%	$885	$328K	10x	as long as short
HTX CRM-USDTshort	0.0000%	8h	237.36	−0.328%	$10K	$25K	20x
Injective CRM/USDC PERPlong	+0.0033%	1h	238.14	long leg	$12K	$24K	12x
KuCoin CRMUSDTM	+0.0100%	8h	237.26	−0.370%	$103K	$650K	20x	as long as short