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 −0.066%

Price spread now: Variational Omni against Injective−1.012%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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Variational Omni is 1.012% cheaper against Injective than usual: you would sell low and buy high (−$101 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	27m 10s	$15K	$102	12x
Short	Variational Omni CRWD	248.91	0	get 0.0000% / 8h	27m 10s	$67K	$61K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −1.012%Rate

Funding earned: −$46.2
Price spread: −1.012% → 0.000%: −$101.16
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$147.38
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Variational Omni: no order-book sample. 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 Variational Omni no order-book sample	—	—	—	—	—

Injective and Variational Omni: 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	248.73	−1.082%	$4K	$37K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	248.86	−1.030%	$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	248.78	−1.062%	$620K	$662K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	248.74	−1.078%	$291K	$486K	20x	as long as short
Variational Omni CRWDshort	0.0000%	8h	248.91	−1.012%	$67K	$61K	—
GRVT CRWD_USDT_Perp	0.0000%	8h	248.85	−1.034%	$440	$122K	10x	as long as short
SunX CRWD-USDT	0.0000%	8h	248.79	−1.058%	$2K	$1.3M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	249.05	−0.954%	$6K	$8K	20x	as long as short
Phemex CRWDUSDT	0.0000%	8h	248.86	−1.030%	$1.5M	$200K	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	+0.0024%	8h	248.92	−1.006%	$73K	$25K	25x	as long as short
QFEX CRWD-USD	+0.0028%	1h	248.90	−1.014%	$1.2M	$2.9M	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	+0.0066%	1h	248.66	−1.110%	$864K	$655K	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	248.91	−1.010%	$35K	$493K	20x	as long as short
Injective CRWD/USDC PERPlong	+0.0220%	1h	251.45	long leg	$15K	$102	12x
Phoenix CRWD	+0.0257%	1h	248.85	−1.034%	$2	$155K	10x	as long as short
Paragon para:CRWD	+0.0296%	1h	248.66	−1.110%	$84K	$113K	10x	as long as short