Funding arb · Price arb /

CRWD

RWAall CRWD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0157%/8h= +17.2% APRpaid last 24h +0.073%

Price spread now: Phoenix against BloFin−0.036%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 Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. Phoenix is 0.036% cheaper against BloFin than usual: you would sell low and buy high (spread −0.036% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 18 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin CRWD-USDT	250.76	−0.0029	get 0.0029% / 8h	13m 13s	$70K	$24K	25x
Short	Phoenix CRWD	250.67	0.0128	get 0.0016% / 1h	13m 13s	$3	$121K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.036%Rate

Funding earned: $32.97
Price spread: −0.036% → 0.000%: −$3.59
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $10.38
Costs to cover: 0.190%
Break-even: 4.8 days

Slippage unknown: BloFin: no order-book sample; Phoenix: live order book, 17 min ago. 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 Phoenix live order book, 17 min ago	3.19 bp	19.6 bp −$20	61.1 bp −$611	doesn't fit	doesn't fit

BloFin: 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 PERP	−0.0220%	1h	246.01	−1.894%	$22K	$20K	12x	as long as short
BloFin CRWD-USDTlong	−0.0029%	8h	250.76	long leg	$70K	$24K	25x
Aster CRWDUSDT	0.0000%	8h	250.44	−0.127%	$4K	$35K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	250.88	+0.050%	$2.5M	$7.3M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	250.43	−0.132%	$1.1M	$440K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	250.72	−0.016%	$547K	$765K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	250.65	−0.044%	$305K	$410K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	250.83	+0.029%	$68K	$56K	—	as long as short
SunX CRWD-USDT	0.0000%	8h	250.73	−0.012%	$2K	$1.1M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	251.00	+0.096%	$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 CRWDUSDT	0.0000%	8h	250.96	+0.080%	$1.5M	$221K	10x	as long as short
QFEX CRWD-USD	+0.0017%	1h	250.80	+0.016%	$1.2M	$2.7M	10x	as long as short
GRVT CRWD_USDT_Perp	+0.0026%	8h	250.84	+0.033%	$464	$124K	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	250.44	−0.130%	$100K	—	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	250.54	−0.088%	$34K	$243K	20x	as long as short
tradeXYZ xyz:CRWD	+0.0100%	1h	250.57	−0.076%	$894K	$676K	10x	as long as short
Phoenix CRWDshort	+0.0128%	1h	250.67	−0.036%	$3	$121K	10x
Paragon para:CRWD	+0.0355%	1h	250.39	−0.149%	$84K	$108K	10x	as long as short