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: OKX against Injective−0.630%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 OKX

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 OKX is 0.630% cheaper against Injective than usual: you would sell low and buy high (−$63 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	17m 22s	$12K	$12K	12x
Short	OKX CRM-USDT-SWAP	236.64	0	get 0.0000% / 8h	4h 17m	$456K	$138K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.630%Rate

Funding earned: −$7
Price spread: −0.630% → 0.000%: −$62.99
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: −$80.01
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; OKX: live order book, 38 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 OKX live order book, 38 min ago	2.75 bp	47.0 bp −$47	doesn't fit	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
edgeX CRMUSDC	−0.0827%	4h	236.84	−0.546%	$96K	$230K	10x	as long as short
Aster CRMUSDT	0.0000%	8h	236.86	−0.538%	$11K	$2K	20x	as long as short
Binance CRMUSDT	0.0000%	8h	236.78	−0.571%	$1.8M	$1.4M	20x	as long as short
Bybit CRMUSDT	0.0000%	8h	236.69	−0.609%	$262K	$72K	25x	as long as short
OKX CRM-USDT-SWAPshort	0.0000%	8h	236.64	−0.630%	$456K	$138K	10x
Gate CRM_USDT	0.0000%	8h	236.94	−0.504%	$221K	$29K	20x	as long as short
Bitget CRMUSDT	0.0000%	8h	236.73	−0.592%	$443K	$31K	20x	as long as short
Variational Omni CRM	0.0000%	8h	236.86	−0.539%	$49K	$44K	—	as long as short
GRVT CRM_USDT_Perp	0.0000%	8h	236.87	−0.533%	$663	$117K	10x	as long as short
SunX CRM-USDT	0.0000%	8h	236.90	−0.521%	$997	$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	236.94	−0.504%	$10K	$27K	20x	as long as short
QFEX CRM-USD	+0.0003%	1h	236.84	−0.546%	$1.1M	$5.9M	10x	as long as short
Injective CRM/USDC PERPlong	+0.0033%	1h	238.14	long leg	$12K	$12K	12x
KuCoin CRMUSDTM	+0.0100%	8h	236.70	−0.605%	$98K	$518K	20x	as long as short