Funding arb · Price arb /

CRM

RWAall CRM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0007%/8h= −0.7% APRpaid last 24h −0.011%

Price spread now: Bybit against QFEX−0.080%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$137as in the Price arb table

costs, in and out, $10k−$1341.341% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.017%−$2 on $10k

Price spread, last 4 days (all we have)+0.043%+$4 · spread now −0.080%, 7d avg −0.054%

Together, before fees+0.026%+$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.026% cheaper against QFEX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRM-USD	237.51	0.0007	pay 0.0001% / 1h	34m 13s	$1.1M	$4.2M	10x
Short	Bybit CRMUSDT	237.32	0	get 0.0000% / 8h	2h 34m	$262K	$73K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against QFEX. 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 QFEXbpFee BybitbpOrdersPrice spread, now −0.080%Rate

Funding earned: −$1.39
Price spread: −0.080% → −0.054%: −$2.59
Slippage, 4 orders: −$113.11
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$138.09
Costs to cover: 1.341%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; Bybit: live order book, 61 min ago.

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 QFEX live order book, 4 min ago	2.32 bp	10.6 bp −$11	18.3 bp −$183	doesn't fit	doesn't fit
Sell Bybit live order book, 61 min ago	7.39 bp	37.9 bp −$38	doesn't fit	doesn't fit	doesn't fit

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	237.57	+0.026%	$11K	$2K	20x	as long as short
Binance CRMUSDT	0.0000%	8h	237.52	+0.004%	$1.8M	$1.4M	20x	as long as short
Bybit CRMUSDTshort	0.0000%	8h	237.32	−0.080%	$262K	$73K	25x
OKX CRM-USDT-SWAP	0.0000%	8h	237.46	−0.021%	$458K	$137K	10x	as long as short
Gate CRM_USDT	0.0000%	8h	237.39	−0.051%	$221K	$28K	20x	as long as short
Bitget CRMUSDT	0.0000%	8h	237.06	−0.189%	$444K	$30K	20x	as long as short
Variational Omni CRM	0.0000%	8h	237.36	−0.063%	$50K	$44K	—	as long as short
GRVT CRM_USDT_Perp	0.0000%	8h	237.28	−0.099%	$401	$117K	10x	as long as short
SunX CRM-USDT	0.0000%	8h	237.51	0.000%	$950	$267K	10x	as long as short
HTX CRM-USDT	0.0000%	8h	237.48	−0.013%	$10K	$29K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRM-USDlong	+0.0007%	1h	237.51	long leg	$1.1M	$4.2M	10x
Injective CRM/USDC PERP	+0.0033%	1h	238.14	+0.265%	$12K	$12K	12x	as long as short
KuCoin CRMUSDTM	+0.0100%	8h	237.36	−0.063%	$98K	$453K	20x	as long as short
edgeX CRMUSDC	+0.0215%	4h	237.35	−0.065%	$96K	$229K	10x	as long as short