Funding arb · Price arb /

CRWD

RWAall CRWD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0257%/8h= −28.2% APRpaid last 24h −0.064%

Price spread now: Binance against Phoenix−0.014%7-day average −0.121% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$570.567% of the position

Long on Phoenix Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.215%−$22 on $10k

Price spread, last 2 days (all we have)−0.201%−$20 · spread now −0.014%, 7d avg −0.121%

Together, before fees−0.416%−$42 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.107% dearer against Phoenix than usual: you sell high and buy low (spread −0.014% now, against its 7-day average of −0.121%): +$11 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 33 hours. At the pace of the last 7 days (−0.215% in total) that is about 3.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix CRWD	249.48	0.0257	pay 0.0032% / 1h	54m 59s	$3	$140K	10x
Short	Binance CRWDUSDT	249.44	0	get 0.0000% / 8h	7h 54m	$2.4M	$6.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phoenix. 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 PhoenixbpFee BinancebpOrdersPrice spread, now −0.014%Rate

Funding earned: −$54.04
Price spread: −0.014% → −0.121%: $10.7
Slippage, 4 orders: −$39.7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$100.03
Costs to cover: 0.567%
Break-even: never at this rate

Slippage from Phoenix: live order book, 11 min ago; Binance: live order book, 14 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 Phoenix live order book, 11 min ago	2.41 bp	15.9 bp −$16	62.4 bp −$624	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	1.61 bp	10.4 bp −$10	44.8 bp −$448	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
Paragon para:CRWD	−0.0246%	1h	249.19	−0.117%	$84K	$113K	10x	as long as short
BloFin CRWD-USDT	−0.0008%	8h	249.55	+0.028%	$72K	$25K	25x	as long as short
Aster CRWDUSDT	0.0000%	8h	249.23	−0.099%	$4K	$37K	20x	as long as short
Binance CRWDUSDTshort	0.0000%	8h	249.44	−0.014%	$2.4M	$6.8M	25x
Bybit CRWDUSDT	0.0000%	8h	249.27	−0.084%	$1.2M	$665K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	249.25	−0.092%	$620K	$644K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	249.23	−0.100%	$292K	$417K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	249.70	+0.089%	$67K	$60K	—	as long as short
SunX CRWD-USDT	0.0000%	8h	249.46	−0.008%	$2K	$1.3M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	249.66	+0.072%	$6K	$7K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRWDUSDT	0.0000%	8h	249.28	−0.080%	$1.5M	$198K	10x	as long as short
QFEX CRWD-USD	+0.0030%	1h	248.94	−0.216%	$1.2M	$3.0M	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	248.74	−0.298%	$99K	—	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	249.47	−0.004%	$35K	$470K	20x	as long as short
Injective CRWD/USDC PERP	+0.0220%	1h	248.72	−0.305%	$22K	$19K	12x	as long as short
Phoenix CRWDlong	+0.0257%	1h	249.48	long leg	$3	$140K	10x
GRVT CRWD_USDT_Perp	+0.0441%	8h	249.41	−0.029%	$581	$108K	10x	as long as short
tradeXYZ xyz:CRWD	+0.0823%	1h	249.24	−0.096%	$866K	$654K	10x	as long as short