Funding arb · Price arb /

CRWD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.066%

Price spread now: Binance against Injective−1.074%77s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Binance

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 −$7 a day on $10k at the current rate, and Binance is 1.074% cheaper against Injective than usual: you would sell low and buy high (−$107 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 77 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	Injective CRWD/USDC PERP	251.26	0.0220	pay 0.0028% / 1h	6m 08s	$15K	$103	12x
Short	Binance CRWDUSDT	248.56	0	get 0.0000% / 8h	2h 06m	$2.4M	$7.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now −1.074%Rate

Funding earned: −$46.2
Price spread: −1.074% → 0.000%: −$107.39
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: −$163.61
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Binance: live order book, 3 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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 3 min ago	1.61 bp	18.2 bp −$18	46.7 bp −$467	doesn't fit	doesn't fit

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
BloFin CRWD-USDT	−0.0019%	8h	248.46	−1.114%	$73K	$26K	25x	as long as short
Aster CRWDUSDT	0.0000%	8h	248.58	−1.067%	$4K	$37K	20x	as long as short
Binance CRWDUSDTshort	0.0000%	8h	248.56	−1.074%	$2.4M	$7.3M	25x
Bybit CRWDUSDT	0.0000%	8h	248.55	−1.079%	$1.1M	$694K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	248.47	−1.110%	$624K	$731K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	248.46	−1.114%	$291K	$502K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	248.64	−1.044%	$67K	$61K	—	as long as short
GRVT CRWD_USDT_Perp	0.0000%	8h	248.63	−1.048%	$776	$132K	10x	as long as short
SunX CRWD-USDT	0.0000%	8h	248.60	−1.059%	$2K	$1.5M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	248.75	−0.999%	$6K	$9K	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	248.57	−1.071%	$1.5M	$223K	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	248.43	−1.128%	$99K	—	10x	as long as short
QFEX CRWD-USD	+0.0049%	1h	248.65	−1.039%	$1.2M	$2.8M	10x	as long as short
tradeXYZ xyz:CRWD	+0.0050%	1h	248.51	−1.094%	$867K	$696K	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	248.71	−1.015%	$35K	$551K	20x	as long as short
Injective CRWD/USDC PERPlong	+0.0220%	1h	251.26	long leg	$15K	$103	12x
Phoenix CRWD	+0.0385%	1h	248.78	−0.987%	$2	$168K	10x	as long as short
Paragon para:CRWD	+0.0397%	1h	248.50	−1.098%	$84K	$160K	10x	as long as short