Funding arb · Price arb /

CRWD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0128%/8h= −14.0% APRpaid last 24h −0.073%

Price spread now: SunX against Phoenix+0.188%7-day average −0.070% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.190%−$19 on $10k

Price spread, last 4 days (all we have)−0.264%−$26 · spread now +0.188%, 7d avg −0.070%

Together, before fees−0.454%−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.258% dearer against Phoenix than usual: you sell high and buy low (spread +0.188% now, against its 7-day average of −0.070%): +$26 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 6.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix CRWD	250.25	0.0128	pay 0.0016% / 1h	50m 56s	$3	$121K	10x
Short	SunX CRWD-USDT	250.72	0	get 0.0000% / 8h	50m 56s	$2K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.188%Rate

Funding earned: −$26.84
Price spread: +0.188% → −0.070%: $25.76
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$16.08
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Phoenix: live order book, 44 min ago; SunX: live order book, 2 min ago. Net counts fees only.

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, 44 min ago	2.79 bp	16.0 bp −$16	62.5 bp −$625	doesn't fit	doesn't fit
Sell SunX live order book, 2 min ago	500.17 bp	doesn't fit	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	−1.694%	$22K	$20K	12x	as long as short
BloFin CRWD-USDT	−0.0004%	8h	250.21	−0.016%	$72K	$24K	25x	as long as short
Aster CRWDUSDT	0.0000%	8h	250.39	+0.057%	$4K	$35K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	250.64	+0.157%	$2.5M	$7.3M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	250.26	+0.004%	$1.1M	$450K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	250.68	+0.172%	$547K	$763K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	250.73	+0.192%	$306K	$442K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	250.64	+0.156%	$68K	$60K	—	as long as short
SunX CRWD-USDTshort	0.0000%	8h	250.72	+0.188%	$2K	$1.1M	10x
HTX CRWD-USDT	0.0000%	8h	250.20	−0.020%	$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	250.63	+0.152%	$1.5M	$219K	10x	as long as short
QFEX CRWD-USD	+0.0017%	1h	250.47	+0.088%	$1.2M	$2.7M	10x	as long as short
GRVT CRWD_USDT_Perp	+0.0032%	8h	250.08	−0.067%	$985	$124K	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	250.47	+0.086%	$100K	—	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	250.35	+0.040%	$34K	$237K	20x	as long as short
Phoenix CRWDlong	+0.0128%	1h	250.25	long leg	$3	$121K	10x
tradeXYZ xyz:CRWD	+0.0158%	1h	250.55	+0.120%	$894K	$682K	10x	as long as short
Paragon para:CRWD	+0.0387%	1h	250.16	−0.036%	$84K	$108K	10x	as long as short