Funding arb · Price arb /

CRWD

RWAall CRWD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0064%/8h= +7.1% APRpaid last 24h +0.001%

Price spread now: QFEX against Binance−0.054%53s7-day average −0.027% · 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—prices read too far apart to compare

costs, in and out, $10k−$370.370% of the position

Long on Binance Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.003%$0 on $10k

Price spread, last 7 days+0.057%+$6 · spread now −0.054%, 7d avg −0.027%

Together, before fees+0.054%+$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.028% cheaper against Binance than usual: you would sell low and buy high (spread −0.054% now, against its 7-day average of −0.027%). If the spread goes back, that is −$3 on $10k: about 34 hours of funding at the current rate (+$2 a day). The two prices were read 53 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	Binance CRWDUSDT	250.21	0	get 0.0000% / 8h	1h 01m	$2.6M	$7.3M	25x
Short	QFEX CRWD-USD	250.07	0.0064	get 0.0008% / 1h	1m 48s	$1.2M	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.054%Rate

Funding earned: $13.54
Price spread: −0.054% → −0.027%: −$2.76
Slippage, 4 orders: −$16.98
Fee Binance: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$26.21
Costs to cover: 0.370%
Break-even: 20.5 days

Slippage from Binance: live order book, 7 min ago; QFEX: live order book, 6 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, 7 min ago	0.20 bp	11.6 bp −$12	34.6 bp −$346	193.0 bp −$19.3K	doesn't fit
Sell QFEX live order book, 6 min ago	1.40 bp	6.4 bp −$6	15.1 bp −$151	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	244.15	−2.420%	$21K	$20K	12x	as long as short
Aster CRWDUSDT	0.0000%	8h	250.13	−0.029%	$4K	$35K	20x	as long as short
Binance CRWDUSDTlong	0.0000%	8h	250.21	long leg	$2.6M	$7.3M	25x
Bybit CRWDUSDT	0.0000%	8h	249.88	−0.130%	$1.1M	$449K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	249.79	−0.166%	$591K	$703K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	250.46	+0.102%	$308K	$442K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	249.97	−0.096%	$67K	$60K	—	as long as short
SunX CRWD-USDT	0.0000%	8h	250.18	−0.010%	$2K	$1.1M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	250.14	−0.026%	$6K	$7K	20x	as long as short
Phemex CRWDUSDT	0.0000%	8h	250.08	−0.050%	$1.5M	$215K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin CRWD-USDT	+0.0023%	8h	249.93	−0.110%	$72K	$24K	25x	as long as short
GRVT CRWD_USDT_Perp	+0.0047%	8h	250.01	−0.078%	$630	$124K	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	249.77	−0.172%	$100K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0050%	1h	250.00	−0.082%	$893K	$681K	10x	as long as short
QFEX CRWD-USDshort	+0.0064%	1h	250.07	−0.054%	$1.2M	$2.7M	10x
KuCoin CRWDUSDTM	+0.0100%	8h	249.96	−0.098%	$34K	$242K	20x	as long as short
Phoenix CRWD	+0.0286%	1h	250.02	−0.074%	$7	$106K	10x	as long as short
Paragon para:CRWD	+0.0385%	1h	250.11	−0.038%	$84K	$108K	10x	as long as short