Funding arb · Price arb /

CRWD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.014%

Price spread now: Phemex against Extended−0.132%7-day average — · you buy dearer than you sell

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

Long on Extended Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.098%−$10 on $10k

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

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.132% cheaper against Extended than usual: you would sell low and buy high (−$13 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	Extended CRWD_24_5-USD	250.20	0.0048	pay 0.0006% / 1h	41m 05s	$100K	—	10x
Short	Phemex CRWDUSDT	249.87	0	get 0.0000% / 8h	7h 41m	$1.5M	$224K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Extended. 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 ExtendedbpFee PhemexbpOrdersPrice spread, now −0.132%Rate

Funding earned: −$10.08
Price spread: −0.132% → 0.000%: −$13.19
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$40.27
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Extended: no order-book sample; Phemex: live order book, 2 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 Extended no order-book sample	—	—	—	—	—
Sell Phemex live order book, 2 min ago	3.99 bp	51.9 bp −$52	doesn't fit	doesn't fit	doesn't fit

Extended: 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	247.18	−1.207%	$22K	$20K	12x	as long as short
Paragon para:CRWD	−0.0121%	1h	250.06	−0.057%	$84K	$108K	10x	as long as short
Bybit CRWDUSDT	−0.0073%	8h	249.80	−0.160%	$1.1M	$438K	25x	as long as short
BloFin CRWD-USDT	−0.0004%	8h	250.40	+0.080%	$70K	$24K	25x	as long as short
Aster CRWDUSDT	0.0000%	8h	250.16	−0.016%	$4K	$36K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	249.99	−0.083%	$2.5M	$7.3M	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	249.73	−0.188%	$541K	$771K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	250.02	−0.072%	$305K	$410K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	250.43	+0.091%	$68K	$56K	—	as long as short
GRVT CRWD_USDT_Perp	0.0000%	8h	250.48	+0.110%	$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	250.55	+0.140%	$2K	$1.1M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	250.06	−0.056%	$6K	$7K	20x	as long as short
Phemex CRWDUSDTshort	0.0000%	8h	249.87	−0.132%	$1.5M	$224K	10x
QFEX CRWD-USD	+0.0030%	1h	249.50	−0.280%	$1.2M	$2.7M	10x	as long as short
Extended CRWD_24_5-USDlong	+0.0048%	1h	250.20	long leg	$100K	—	10x
tradeXYZ xyz:CRWD	+0.0050%	1h	249.81	−0.156%	$890K	$677K	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	250.06	−0.056%	$34K	$261K	20x	as long as short
Phoenix CRWD	+0.0255%	1h	250.46	+0.104%	$3	$120K	10x	as long as short