Funding arb · Price arb /

CRM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.136%

Price spread now: KuCoin against QFEX−0.063%7-day average +0.091% · 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−$1,448as in the Price arb table

costs, in and out, $10k−$1,43314.330% of the position

Long on QFEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.211%+$21 on $10k

Price spread, last 4 days (all we have)+0.111%+$11 · spread now −0.063%, 7d avg +0.091%

Together, before fees+0.322%+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.154% cheaper against QFEX than usual: you would sell low and buy high (spread −0.063% now, against its 7-day average of +0.091%). If the spread goes back, that is −$15 on $10k: about 5.3 days of funding at the current rate (+$3 a day). At the pace of the last 4 days (+0.211% in total) that is about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRM-USD	236.83	0.0003	pay 0.0000% / 1h	12m 56s	$1.1M	$5.7M	10x
Short	KuCoin CRMUSDTM	236.68	0.0100	get 0.0100% / 8h	4h 12m	$98K	$514K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.063%Rate

Funding earned: $20.31
Price spread: −0.063% → +0.091%: −$15.39
Slippage, 4 orders: −$1,411.04
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$1,428.12
Costs to cover: 14.330%
Break-even: 499.2 days

Slippage from QFEX: live order book, 6 min ago; KuCoin: live order book, 70 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, 6 min ago	2.32 bp	10.6 bp −$11	17.3 bp −$173	doesn't fit	doesn't fit
Sell KuCoin live order book, 70 min ago	4.01 bp	1058.1 bp −$1,058	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
edgeX CRMUSDC	−0.0813%	4h	236.87	+0.019%	$96K	$231K	10x	as long as short
Aster CRMUSDT	0.0000%	8h	236.76	−0.030%	$11K	$2K	20x	as long as short
Binance CRMUSDT	0.0000%	8h	236.78	−0.021%	$1.8M	$1.4M	20x	as long as short
Bybit CRMUSDT	0.0000%	8h	236.67	−0.068%	$262K	$72K	25x	as long as short
OKX CRM-USDT-SWAP	0.0000%	8h	236.64	−0.080%	$456K	$138K	10x	as long as short
Gate CRM_USDT	0.0000%	8h	236.93	+0.042%	$221K	$29K	20x	as long as short
Bitget CRMUSDT	0.0000%	8h	236.69	−0.059%	$443K	$31K	20x	as long as short
Variational Omni CRM	0.0000%	8h	236.87	+0.018%	$49K	$44K	—	as long as short
GRVT CRM_USDT_Perp	0.0000%	8h	236.88	+0.020%	$663	$117K	10x	as long as short
SunX CRM-USDT	0.0000%	8h	236.90	+0.030%	$725	$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	236.99	+0.068%	$10K	$27K	20x	as long as short
QFEX CRM-USDlong	+0.0003%	1h	236.83	long leg	$1.1M	$5.7M	10x
Injective CRM/USDC PERP	+0.0033%	1h	238.14	+0.553%	$12K	$12K	12x	as long as short
KuCoin CRMUSDTMshort	+0.0100%	8h	236.68	−0.063%	$98K	$514K	20x