Funding arb · Price arb /

CRM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0945%/8h= +103.5% APRpaid last 24h +0.066%

Price spread now: edgeX against QFEX+0.030%57s7-day average −0.036% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$610.607% of the position

Long on QFEX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.108%+$11 on $10k

Price spread, last 4 days (all we have)−0.385%−$39 · spread now +0.030%, 7d avg −0.036%

Together, before fees−0.277%+ Points / potential airdropedgeX: Active · farm board−$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$28 a day on $10k at the current rate, and edgeX is 0.067% dearer against QFEX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.036%. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.108% in total (about 11.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRM-USD	236.68	0.0007	pay 0.0001% / 1h	5m 42s	$1.2M	$7.6M	10x
Short	edgeX CRMUSDC	236.75	0.0952	get 0.0476% / 4h	1h 05m	$96K	$229K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.030%Rate

Funding earned: $198.42
Price spread: +0.030% → −0.036%: $6.65
Slippage, 4 orders: −$41.71
Fee QFEX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $144.36
Costs to cover: 0.607%
Break-even: 1.9 days

Slippage from QFEX: live order book, 3 min ago; edgeX: live order book, 56 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, 3 min ago	2.32 bp	10.4 bp −$10	19.6 bp −$196	doesn't fit	doesn't fit
Sell edgeX live order book, 56 min ago	8.64 bp	18.2 bp −$18	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	236.79	+0.048%	$11K	$2K	20x	as long as short
Binance CRMUSDT	0.0000%	8h	236.78	+0.042%	$1.8M	$1.4M	20x	as long as short
Bybit CRMUSDT	0.0000%	8h	236.60	−0.034%	$263K	$71K	25x	as long as short
OKX CRM-USDT-SWAP	0.0000%	8h	236.64	−0.017%	$456K	$137K	10x	as long as short
Gate CRM_USDT	0.0000%	8h	236.83	+0.063%	$221K	$29K	20x	as long as short
Bitget CRMUSDT	0.0000%	8h	236.69	+0.004%	$443K	$32K	20x	as long as short
Variational Omni CRM	0.0000%	8h	236.75	+0.031%	$49K	$44K	—	as long as short
GRVT CRM_USDT_Perp	0.0000%	8h	236.85	+0.073%	$585	$118K	10x	as long as short
SunX CRM-USDT	0.0000%	8h	236.82	+0.059%	$613	$269K	10x	as long as short
HTX CRM-USDT	0.0000%	8h	236.89	+0.089%	$10K	$27K	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	236.68	long leg	$1.2M	$7.6M	10x
Injective CRM/USDC PERP	+0.0033%	1h	238.14	+0.617%	$12K	$12K	12x	as long as short
KuCoin CRMUSDTM	+0.0100%	8h	236.63	−0.021%	$99K	$539K	20x	as long as short
edgeX CRMUSDCshort	+0.0952%	4h	236.75	+0.030%	$96K	$229K	10x