Funding arb · Price arb /

CRWD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against OKX+0.040%7-day average −0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$196as in the Funding arb table

Net, price: spread back to 7d avg − costs−$192as in the Price arb table

costs, in and out, $10k−$2001.999% of the position

Long on OKX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.041%+$4 on $10k

Price spread, last 4 days (all we have)−0.059%−$6 · spread now +0.040%, 7d avg −0.037%

Together, before fees−0.018%−$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.077% dearer against OKX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CRWD-USDT-SWAP	250.68	0	get 0.0000% / 8h	49m 05s	$547K	$763K	25x
Short	Phemex CRWDUSDT	250.78	0	get 0.0000% / 8h	49m 05s	$1.5M	$220K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against OKX. 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 OKXbpFee PhemexbpOrdersPrice spread, now +0.040%Rate

Funding earned: $0
Price spread: +0.040% → −0.037%: $7.66
Slippage, 4 orders: −$177.92
Fee OKX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$192.26
Costs to cover: 1.999%
Break-even: never at this rate

Slippage from OKX: live order book, 52 min ago; Phemex: live order book, 4 min ago.

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 OKX live order book, 52 min ago	6.59 bp	32.0 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	6.80 bp	50.2 bp −$50	doesn't fit	doesn't fit	doesn't fit

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	246.01	−1.863%	$22K	$20K	12x	as long as short
Aster CRWDUSDT	0.0000%	8h	250.55	−0.053%	$4K	$35K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	250.72	+0.018%	$2.5M	$7.3M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	250.42	−0.104%	$1.1M	$450K	25x	as long as short
OKX CRWD-USDT-SWAPlong	0.0000%	8h	250.68	long leg	$547K	$763K	25x
Bitget CRWDUSDT	0.0000%	8h	250.57	−0.044%	$305K	$442K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	250.64	−0.016%	$68K	$60K	—	as long as short
SunX CRWD-USDT	0.0000%	8h	250.67	−0.004%	$2K	$1.1M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	250.88	+0.080%	$6K	$7K	20x	as long as short
Phemex CRWDUSDTshort	0.0000%	8h	250.78	+0.040%	$1.5M	$220K	10x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRWD-USD	+0.0017%	1h	250.59	−0.036%	$1.2M	$2.7M	10x	as long as short
BloFin CRWD-USDT	+0.0019%	8h	250.65	−0.012%	$72K	$24K	25x	as long as short
GRVT CRWD_USDT_Perp	+0.0031%	8h	250.71	+0.012%	$692	$125K	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	250.38	−0.118%	$100K	—	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	250.45	−0.092%	$34K	$238K	20x	as long as short
Phoenix CRWD	+0.0128%	1h	250.25	−0.172%	$3	$121K	10x	as long as short
tradeXYZ xyz:CRWD	+0.0168%	1h	250.59	−0.036%	$894K	$676K	10x	as long as short
Paragon para:CRWD	+0.0354%	1h	250.39	−0.116%	$84K	$108K	10x	as long as short