Funding arb · Price arb /

CRWD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.071%

Price spread now: GRVT against Injective−1.026%7-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 GRVT

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and GRVT is 1.026% cheaper against Injective than usual: you would sell low and buy high (−$103 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	Injective CRWD/USDC PERP	251.45	0.0220	pay 0.0028% / 1h	21m 52s	$15K	$102	12x
Short	GRVT CRWD_USDT_Perp	248.87	0	get 0.0000% / 8h	21m 52s	$438	$109K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −1.026%Rate

Funding earned: −$46.2
Price spread: −1.026% → 0.000%: −$102.59
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$157.81
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; GRVT: live order book, 55 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 GRVT live order book, 55 min ago	3.22 bp	23.7 bp −$24	doesn't fit	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	−0.0012%	8h	248.77	−1.066%	$73K	$25K	25x	as long as short
Aster CRWDUSDT	0.0000%	8h	248.72	−1.086%	$4K	$37K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	248.80	−1.054%	$2.4M	$7.0M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	248.63	−1.121%	$1.1M	$674K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	249.02	−0.966%	$620K	$661K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	248.73	−1.082%	$291K	$482K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	248.80	−1.055%	$67K	$61K	—	as long as short
GRVT CRWD_USDT_Perpshort	0.0000%	8h	248.87	−1.026%	$438	$109K	10x
SunX CRWD-USDT	0.0000%	8h	248.84	−1.038%	$2K	$1.3M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	248.97	−0.986%	$6K	$8K	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	248.80	−1.054%	$1.5M	$199K	10x	as long as short
QFEX CRWD-USD	+0.0028%	1h	248.80	−1.054%	$1.2M	$3.0M	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	248.66	−1.108%	$99K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0050%	1h	248.64	−1.118%	$864K	$655K	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	248.83	−1.042%	$34K	$489K	20x	as long as short
Injective CRWD/USDC PERPlong	+0.0220%	1h	251.45	long leg	$15K	$102	12x
Phoenix CRWD	+0.0257%	1h	248.84	−1.038%	$7	$155K	10x	as long as short
Paragon para:CRWD	+0.0316%	1h	248.66	−1.110%	$84K	$113K	10x	as long as short