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 −0.010%

Price spread now: OKX against Phemex−0.104%7-day average +0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$156as in the Funding arb table

Net, price: spread back to 7d avg − costs−$167as in the Price arb table

costs, in and out, $10k−$1521.515% of the position

Long on Phemex Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.046%−$5 on $10k

Price spread, last 3 days (all we have)+0.130%+$13 · spread now −0.104%, 7d avg +0.049%

Together, before fees+0.083%+$8 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: OKX is 0.153% cheaper against Phemex than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex CRWDUSDT	249.00	0	get 0.0000% / 8h	14m 52s	$1.5M	$199K	10x
Short	OKX CRWD-USDT-SWAP	248.74	0	get 0.0000% / 8h	14m 52s	$619K	$661K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.104%Rate

Funding earned: $0
Price spread: −0.104% → +0.049%: −$15.33
Slippage, 4 orders: −$129.53
Fee Phemex: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$166.86
Costs to cover: 1.515%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; OKX: live order book, 61 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, 3 min ago	3.62 bp	43.2 bp −$43	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 61 min ago	3.82 bp	39.3 bp −$39	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
Aster CRWDUSDT	0.0000%	8h	248.76	−0.097%	$4K	$37K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	248.95	−0.022%	$2.4M	$6.9M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	248.64	−0.145%	$1.1M	$674K	25x	as long as short
OKX CRWD-USDT-SWAPshort	0.0000%	8h	248.74	−0.104%	$619K	$661K	25x
Bitget CRWDUSDT	0.0000%	8h	248.77	−0.092%	$291K	$482K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	248.92	−0.033%	$67K	$60K	—	as long as short
GRVT CRWD_USDT_Perp	0.0000%	8h	248.94	−0.024%	$446	$108K	10x	as long as short
SunX CRWD-USDT	0.0000%	8h	248.90	−0.040%	$2K	$1.3M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	249.10	+0.040%	$6K	$7K	20x	as long as short
Phemex CRWDUSDTlong	0.0000%	8h	249.00	long leg	$1.5M	$199K	10x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin CRWD-USDT	+0.0014%	8h	248.90	−0.040%	$73K	$25K	25x	as long as short
QFEX CRWD-USD	+0.0028%	1h	248.85	−0.060%	$1.2M	$3.0M	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	248.61	−0.155%	$99K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0050%	1h	248.65	−0.141%	$864K	$653K	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	248.84	−0.064%	$34K	$485K	20x	as long as short
Injective CRWD/USDC PERP	+0.0220%	1h	251.38	+0.956%	$15K	$103	12x	as long as short
Phoenix CRWD	+0.0257%	1h	248.71	−0.116%	$6	$155K	10x	as long as short
Paragon para:CRWD	+0.0315%	1h	248.65	−0.139%	$84K	$113K	10x	as long as short