Funding arb · Price arb /

CRWD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.066%

Price spread now: SunX against Injective−1.047%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 SunX

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 SunX is 1.047% cheaper against Injective than usual: you would sell low and buy high (−$105 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	251.22	0.0220	pay 0.0028% / 1h	4m 19s	$15K	$103	12x
Short	SunX CRWD-USDT	248.59	0	get 0.0000% / 8h	1h 04m	$2K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −1.047%Rate

Funding earned: −$46.2
Price spread: −1.047% → 0.000%: −$104.69
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: −$158.91
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; SunX: live order book, 10 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 SunX live order book, 10 min ago	500.19 bp	doesn't fit	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
Aster CRWDUSDT	0.0000%	8h	248.59	−1.048%	$4K	$37K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	248.64	−1.027%	$2.4M	$7.1M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	248.44	−1.107%	$1.1M	$686K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	248.67	−1.015%	$624K	$720K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	248.62	−1.035%	$291K	$473K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	248.61	−1.040%	$67K	$61K	—	as long as short
GRVT CRWD_USDT_Perp	0.0000%	8h	248.55	−1.062%	$500	$125K	10x	as long as short
SunX CRWD-USDTshort	0.0000%	8h	248.59	−1.047%	$2K	$1.4M	10x
HTX CRWD-USDT	0.0000%	8h	248.79	−0.967%	$6K	$9K	20x	as long as short
Phemex CRWDUSDT	0.0000%	8h	248.69	−1.007%	$1.5M	$211K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin CRWD-USDT	+0.0017%	8h	248.74	−0.987%	$73K	$25K	25x	as long as short
QFEX CRWD-USD	+0.0024%	1h	248.65	−1.023%	$1.2M	$2.9M	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	248.43	−1.112%	$99K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0050%	1h	248.58	−1.051%	$866K	$669K	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	248.74	−0.987%	$35K	$513K	20x	as long as short
Injective CRWD/USDC PERPlong	+0.0220%	1h	251.22	long leg	$15K	$103	12x
Phoenix CRWD	+0.0257%	1h	248.75	−0.983%	$5	$168K	10x	as long as short
Paragon para:CRWD	+0.0309%	1h	248.50	−1.082%	$84K	$115K	10x	as long as short