Funding arb · Price arb /

CRWD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0207%/8h= −22.7% APRpaid last 24h +0.030%

Price spread now: Injective against BloFin−1.290%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Injective is 1.290% cheaper against BloFin than usual: you would sell low and buy high (−$129 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin CRWD-USDT	250.41	−0.0013	get 0.0013% / 8h	7h 42m	$70K	$24K	25x
Short	Injective CRWD/USDC PERP	247.18	−0.0220	pay 0.0028% / 1h	42m 56s	$22K	$20K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now −1.290%Rate

Funding earned: −$43.53
Price spread: −1.290% → 0.000%: −$128.99
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$184.54
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: BloFin: no order-book sample; Injective: no order-book sample. Net counts fees only.

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 BloFin no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

BloFin and Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 PERPshort	−0.0220%	1h	247.18	−1.290%	$22K	$20K	12x
Paragon para:CRWD	−0.0167%	1h	250.44	+0.012%	$84K	$108K	10x	as long as short
Bybit CRWDUSDT	−0.0075%	8h	250.28	−0.052%	$1.1M	$438K	25x	as long as short
BloFin CRWD-USDTlong	−0.0013%	8h	250.41	long leg	$70K	$24K	25x
Aster CRWDUSDT	0.0000%	8h	250.32	−0.036%	$4K	$36K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	250.52	+0.044%	$2.5M	$7.3M	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	250.54	+0.052%	$542K	$773K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	250.43	+0.008%	$305K	$411K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	250.43	+0.007%	$68K	$56K	—	as long as short
GRVT CRWD_USDT_Perp	0.0000%	8h	250.54	+0.050%	$641	$123K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX CRWD-USDT	0.0000%	8h	250.42	+0.004%	$2K	$1.1M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	250.78	+0.148%	$6K	$7K	20x	as long as short
Phemex CRWDUSDT	0.0000%	8h	250.50	+0.036%	$1.5M	$225K	10x	as long as short
QFEX CRWD-USD	+0.0030%	1h	250.43	+0.008%	$1.2M	$2.7M	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	250.37	−0.018%	$100K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0050%	1h	250.41	0.000%	$892K	$677K	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	250.46	+0.020%	$34K	$258K	20x	as long as short
Phoenix CRWD	+0.0255%	1h	250.54	+0.052%	$6	$120K	10x	as long as short