Funding arb · Price arb /

CRWD

RWAall CRWD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against Binance+0.056%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs−$134as in the Price arb table

costs, in and out, $10k−$1381.380% of the position

Long on Binance Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now +0.056%, 7d avg +0.012%

Together, before fees+0.051%+$5 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: Phemex is 0.044% dearer against Binance than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CRWDUSDT	250.82	0	get 0.0000% / 8h	13m 32s	$2.5M	$7.3M	25x
Short	Phemex CRWDUSDT	250.96	0	get 0.0000% / 8h	13m 32s	$1.5M	$221K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Binance. 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 BinancebpFee PhemexbpOrdersPrice spread, now +0.056%Rate

Funding earned: $0
Price spread: +0.056% → +0.012%: $4.38
Slippage, 4 orders: −$116.02
Fee Binance: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$133.64
Costs to cover: 1.380%
Break-even: never at this rate

Slippage from Binance: live order book, 10 min ago; Phemex: live order book, 4 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 Binance live order book, 10 min ago	1.79 bp	13.4 bp −$13	34.8 bp −$348	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	3.79 bp	72.4 bp −$72	doesn't fit	doesn't fit	doesn't fit

CRWD on 18 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
Injective CRWD/USDC PERP	−0.0220%	1h	246.01	−1.918%	$22K	$20K	12x	as long as short
BloFin CRWD-USDT	−0.0014%	8h	250.96	+0.056%	$70K	$24K	25x	as long as short
Aster CRWDUSDT	0.0000%	8h	250.39	−0.171%	$4K	$35K	20x	as long as short
Binance CRWDUSDTlong	0.0000%	8h	250.82	long leg	$2.5M	$7.3M	25x
Bybit CRWDUSDT	0.0000%	8h	250.38	−0.175%	$1.1M	$440K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	250.72	−0.040%	$547K	$765K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	250.65	−0.068%	$305K	$410K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	250.83	+0.005%	$68K	$56K	—	as long as short
SunX CRWD-USDT	0.0000%	8h	250.73	−0.036%	$2K	$1.1M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	250.97	+0.060%	$6K	$7K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRWDUSDTshort	0.0000%	8h	250.96	+0.056%	$1.5M	$221K	10x
QFEX CRWD-USD	+0.0017%	1h	250.80	−0.008%	$1.2M	$2.7M	10x	as long as short
GRVT CRWD_USDT_Perp	+0.0026%	8h	250.84	+0.009%	$464	$124K	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	250.44	−0.154%	$100K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0099%	1h	250.57	−0.100%	$894K	$676K	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	250.55	−0.108%	$34K	$243K	20x	as long as short
Phoenix CRWD	+0.0128%	1h	250.66	−0.064%	$3	$121K	10x	as long as short
Paragon para:CRWD	+0.0355%	1h	250.39	−0.173%	$84K	$108K	10x	as long as short