Funding arb · Price arb /

CRWD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0024%/8h= −2.6% APRpaid last 24h −0.005%

Price spread now: GRVT against QFEX−0.202%7-day average +0.018% · 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−$181as in the Price arb table

costs, in and out, $10k−$1591.592% of the position

Long on QFEX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.006%−$1 on $10k

Price spread, last 4 days (all we have)+0.186%+$19 · spread now −0.202%, 7d avg +0.018%

Together, before fees+0.180%+ Points / potential airdropGRVT: Active · farm board+$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and GRVT is 0.220% cheaper against QFEX than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of +0.018%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRWD-USD	249.73	0.0024	pay 0.0003% / 1h	20m 58s	$1.2M	$2.6M	10x
Short	GRVT CRWD_USDT_Perp	249.23	0	get 0.0000% / 8h	3h 20m	$616	$115K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against QFEX. 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 QFEXbpFee GRVTbpOrdersPrice spread, now −0.202%Rate

Funding earned: −$5.06
Price spread: −0.202% → +0.018%: −$21.97
Slippage, 4 orders: −$140.16
Fee QFEX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$186.19
Costs to cover: 1.592%
Break-even: never at this rate

Slippage from QFEX: live order book, 7 min ago; GRVT: live order book, 31 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 QFEX live order book, 7 min ago	52.37 bp	59.4 bp −$59	67.8 bp −$678	doesn't fit	doesn't fit
Sell GRVT live order book, 31 min ago	2.21 bp	12.6 bp −$13	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	245.36	−1.750%	$22K	$20K	12x	as long as short
Aster CRWDUSDT	0.0000%	8h	249.75	+0.008%	$4K	$37K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	249.81	+0.034%	$2.4M	$6.7M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	249.60	−0.052%	$1.1M	$530K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	249.80	+0.028%	$597K	$670K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	249.10	−0.252%	$292K	$416K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	249.78	+0.019%	$67K	$60K	—	as long as short
GRVT CRWD_USDT_Perpshort	0.0000%	8h	249.23	−0.202%	$616	$115K	10x
SunX CRWD-USDT	0.0000%	8h	249.65	−0.032%	$2K	$1.2M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	249.87	+0.056%	$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	249.78	+0.020%	$1.5M	$195K	10x	as long as short
BloFin CRWD-USDT	+0.0018%	8h	249.80	+0.028%	$72K	$24K	25x	as long as short
QFEX CRWD-USDlong	+0.0024%	1h	249.73	long leg	$1.2M	$2.6M	10x
Extended CRWD_24_5-USD	+0.0048%	1h	249.63	−0.040%	$99K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0050%	1h	249.63	−0.040%	$863K	$630K	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	249.80	+0.028%	$34K	$332K	20x	as long as short
Paragon para:CRWD	+0.0289%	1h	249.61	−0.047%	$84K	$108K	10x	as long as short
Phoenix CRWD	+0.0353%	1h	249.11	−0.248%	$3	$106K	10x	as long as short