Funding arb · Price arb /

CRWD

RWAall CRWD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h −0.001%

Price spread now: QFEX against OKX−0.036%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$1021.024% of the position

Long on OKX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.007%+$1 on $10k

Price spread, last 4 days (all we have)−0.025%−$2 · spread now −0.036%, 7d avg −0.059%

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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.023% dearer against OKX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CRWD-USDT-SWAP	249.80	0	get 0.0000% / 8h	3h 18m	$598K	$670K	25x
Short	QFEX CRWD-USD	249.71	0.0024	get 0.0003% / 1h	18m 58s	$1.2M	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.036%Rate

Funding earned: $5.06
Price spread: −0.036% → −0.059%: $2.33
Slippage, 4 orders: −$82.4
Fee OKX: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$95.02
Costs to cover: 1.024%
Break-even: 138.5 days

Slippage from OKX: live order book, 32 min ago; QFEX: 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, 32 min ago	4.62 bp	22.3 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	27.24 bp	33.0 bp −$33	38.6 bp −$386	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	245.36	−1.777%	$22K	$20K	12x	as long as short
BloFin CRWD-USDT	−0.0030%	8h	249.68	−0.048%	$72K	$24K	25x	as long as short
Aster CRWDUSDT	0.0000%	8h	249.69	−0.045%	$4K	$37K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	249.77	−0.012%	$2.4M	$6.8M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	249.50	−0.120%	$1.1M	$530K	25x	as long as short
OKX CRWD-USDT-SWAPlong	0.0000%	8h	249.80	long leg	$598K	$670K	25x
Bitget CRWDUSDT	0.0000%	8h	249.14	−0.264%	$292K	$416K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	249.78	−0.009%	$67K	$60K	—	as long as short
GRVT CRWD_USDT_Perp	0.0000%	8h	249.82	+0.007%	$677	$117K	10x	as long as short
SunX CRWD-USDT	0.0000%	8h	249.62	−0.072%	$1K	$1.2M	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX CRWD-USDT	0.0000%	8h	249.94	+0.056%	$6K	$7K	20x	as long as short
Phemex CRWDUSDT	0.0000%	8h	249.82	+0.008%	$1.5M	$196K	10x	as long as short
QFEX CRWD-USDshort	+0.0024%	1h	249.71	−0.036%	$1.2M	$2.6M	10x
Extended CRWD_24_5-USD	+0.0048%	1h	249.64	−0.062%	$99K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0050%	1h	249.68	−0.048%	$864K	$629K	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	249.85	+0.020%	$34K	$331K	20x	as long as short
Paragon para:CRWD	+0.0275%	1h	249.64	−0.064%	$84K	$108K	10x	as long as short
Phoenix CRWD	+0.0353%	1h	249.83	+0.012%	$2	$106K	10x	as long as short