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 +0.015%

Price spread now: Phemex against Bybit+0.132%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$267as in the Funding arb table

Net, price: spread back to 7d avg − costs−$274as in the Price arb table

costs, in and out, $10k−$2842.844% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.173%+$17 on $10k

Price spread, last 4 days (all we have)−0.124%−$12 · spread now +0.132%, 7d avg +0.027%

Together, before fees+0.049%+$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 0.105% dearer against Bybit than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CRWDUSDT	250.57	0	get 0.0000% / 8h	36m 47s	$1.2M	$449K	25x
Short	Phemex CRWDUSDT	250.90	0	get 0.0000% / 8h	36m 47s	$1.5M	$221K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. 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 BybitbpFee PhemexbpOrdersPrice spread, now +0.132%Rate

Funding earned: $0
Price spread: +0.132% → +0.027%: $10.49
Slippage, 4 orders: −$261.43
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$273.93
Costs to cover: 2.844%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Phemex: live order book, 1 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 Bybit live order book, 4 min ago	6.19 bp	51.3 bp −$51	218.7 bp −$2,187	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	2.79 bp	55.5 bp −$55	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	−1.820%	$22K	$20K	12x	as long as short
Aster CRWDUSDT	0.0000%	8h	250.81	+0.097%	$4K	$35K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	250.90	+0.132%	$2.5M	$7.3M	25x	as long as short
Bybit CRWDUSDTlong	0.0000%	8h	250.57	long leg	$1.2M	$449K	25x
OKX CRWD-USDT-SWAP	0.0000%	8h	250.62	+0.020%	$546K	$764K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	250.83	+0.104%	$306K	$443K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	250.79	+0.086%	$68K	$60K	—	as long as short
SunX CRWD-USDT	0.0000%	8h	250.86	+0.116%	$2K	$1.1M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	251.08	+0.204%	$6K	$7K	20x	as long as short
Phemex CRWDUSDTshort	0.0000%	8h	250.90	+0.132%	$1.5M	$221K	10x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRWD-USD	+0.0017%	1h	250.96	+0.156%	$1.2M	$2.7M	10x	as long as short
BloFin CRWD-USDT	+0.0023%	8h	250.96	+0.156%	$70K	$24K	25x	as long as short
GRVT CRWD_USDT_Perp	+0.0033%	8h	250.82	+0.098%	$627	$125K	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	250.74	+0.068%	$100K	—	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	250.77	+0.080%	$34K	$234K	20x	as long as short
tradeXYZ xyz:CRWD	+0.0103%	1h	250.70	+0.052%	$894K	$676K	10x	as long as short
Phoenix CRWD	+0.0128%	1h	250.87	+0.120%	$3	$121K	10x	as long as short
Paragon para:CRWD	+0.0329%	1h	250.66	+0.035%	$85K	$108K	10x	as long as short