Funding arb · Price arb /

CRM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.007%

Price spread now: SunX against Injective+0.920%61s7-day average — · you sell dearer than you buy

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

Long on Injective Short on SunX

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

The price spread pays, funding is against you. SunX is 0.920% dearer against Injective than usual: you sell high and buy low (spread +0.920% now, against zero (this spread has no 7-day history yet)): +$92 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3 months. 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	Injective CRM/USDC PERP	238.14	0.0033	pay 0.0004% / 1h	25m 49s	$12K	$10K	12x
Short	SunX CRM-USDT	240.33	0	get 0.0000% / 8h	7h 25m	$1K	$252K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.920%Rate

Funding earned: −$7
Price spread: +0.920% → 0.000%: $91.96
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: $76.94
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; SunX: live order book, 15 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 SunX live order book, 15 min ago	47.82 bp	67.0 bp −$67	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	−0.0676%	4h	240.23	+0.877%	$97K	$230K	10x	as long as short
Aster CRMUSDT	0.0000%	8h	242.50	+1.833%	$11K	$2K	20x	as long as short
Binance CRMUSDT	0.0000%	8h	240.55	+1.014%	$1.8M	$1.4M	20x	as long as short
Bybit CRMUSDT	0.0000%	8h	240.53	+1.004%	$265K	$75K	25x	as long as short
OKX CRM-USDT-SWAP	0.0000%	8h	240.38	+0.941%	$471K	$151K	10x	as long as short
Gate CRM_USDT	0.0000%	8h	240.60	+1.033%	$217K	$29K	20x	as long as short
Bitget CRMUSDT	0.0000%	8h	240.19	+0.861%	$449K	$30K	20x	as long as short
Variational Omni CRM	0.0000%	8h	240.22	+0.871%	$54K	$47K	—	as long as short
SunX CRM-USDTshort	0.0000%	8h	240.33	+0.920%	$1K	$252K	10x
HTX CRM-USDT	0.0000%	8h	240.40	+0.949%	$10K	$31K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective CRM/USDC PERPlong	+0.0033%	1h	238.14	long leg	$12K	$10K	12x
QFEX CRM-USD	+0.0071%	1h	240.39	+0.945%	$1.1M	$3.9M	10x	as long as short
KuCoin CRMUSDTM	+0.0100%	8h	240.41	+0.953%	$99K	$489K	20x	as long as short
GRVT CRM_USDT_Perp	+0.0976%	8h	240.04	+0.798%	$302	$109K	10x	as long as short