Funding arb · Price arb /

CRWD

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bitget against Phemex−0.048%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$171as in the Funding arb table

Net, price: spread back to 7d avg − costs−$176as in the Price arb table

costs, in and out, $10k−$1711.711% of the position

Long on Phemex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.111%+$11 · spread now −0.048%, 7d avg +0.003%

Together, before fees+0.111%+$11 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: Bitget is 0.051% cheaper against Phemex than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex CRWDUSDT	248.61	0	get 0.0000% / 8h	1h 16m	$1.5M	$213K	10x
Short	Bitget CRWDUSDT	248.49	0	get 0.0000% / 8h	1h 16m	$291K	$479K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Phemex. 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 PhemexbpFee BitgetbpOrdersPrice spread, now −0.048%Rate

Funding earned: $0
Price spread: −0.048% → +0.003%: −$5.11
Slippage, 4 orders: −$147.15
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$176.26
Costs to cover: 1.711%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; Bitget: live order book, 63 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 Phemex live order book, 2 min ago	3.02 bp	51.3 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 63 min ago	10.26 bp	39.0 bp −$39	45.4 bp −$454	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
Aster CRWDUSDT	0.0000%	8h	248.54	−0.029%	$4K	$37K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	248.61	0.000%	$2.4M	$7.1M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	248.43	−0.072%	$1.1M	$686K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	248.52	−0.036%	$623K	$719K	25x	as long as short
Bitget CRWDUSDTshort	0.0000%	8h	248.49	−0.048%	$291K	$479K	20x
Variational Omni CRWD	0.0000%	8h	248.64	+0.014%	$67K	$61K	—	as long as short
GRVT CRWD_USDT_Perp	0.0000%	8h	248.72	+0.044%	$525	$126K	10x	as long as short
SunX CRWD-USDT	0.0000%	8h	248.56	−0.020%	$2K	$1.5M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	248.85	+0.097%	$6K	$9K	20x	as long as short
Phemex CRWDUSDTlong	0.0000%	8h	248.61	long leg	$1.5M	$213K	10x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin CRWD-USDT	+0.0017%	8h	248.60	−0.004%	$73K	$26K	25x	as long as short
QFEX CRWD-USD	+0.0024%	1h	248.63	+0.008%	$1.2M	$2.9M	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	248.42	−0.076%	$99K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0050%	1h	248.56	−0.020%	$866K	$691K	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	248.52	−0.036%	$35K	$522K	20x	as long as short
Injective CRWD/USDC PERP	+0.0220%	1h	251.22	+1.050%	$15K	$103	12x	as long as short
Phoenix CRWD	+0.0257%	1h	248.75	+0.056%	$5	$168K	10x	as long as short
Paragon para:CRWD	+0.0294%	1h	248.50	−0.045%	$84K	$160K	10x	as long as short