Funding arb · Price arb /

CRWD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0056%/8h= +6.2% APRpaid last 24h +0.030%

Price spread now: KuCoin against QFEX−0.028%7-day average +0.111% · 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−$551as in the Price arb table

costs, in and out, $10k−$5385.376% of the position

Long on QFEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.152%+$15 on $10k

Price spread, last 4 days (all we have)+0.089%+$9 · spread now −0.028%, 7d avg +0.111%

Together, before fees+0.241%+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.138% cheaper against QFEX than usual: you would sell low and buy high (spread −0.028% now, against its 7-day average of +0.111%). If the spread goes back, that is −$14 on $10k: about 8.2 days of funding at the current rate (+$2 a day). At the pace of the last 4 days (+0.152% in total) that is about 3.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRWD-USD	251.27	0.0044	pay 0.0005% / 1h	24m 05s	$1.2M	$2.6M	10x
Short	KuCoin CRWDUSDTM	251.20	0.0100	get 0.0100% / 8h	2h 24m	$34K	$297K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.028%Rate

Funding earned: $11.81
Price spread: −0.028% → +0.111%: −$13.84
Slippage, 4 orders: −$515.62
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$539.65
Costs to cover: 5.376%
Break-even: 326.8 days

Slippage from QFEX: live order book, 4 min ago; KuCoin: live order book, 33 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, 4 min ago	1.99 bp	7.7 bp −$8	17.7 bp −$177	doesn't fit	doesn't fit
Sell KuCoin live order book, 33 min ago	15.78 bp	288.1 bp −$288	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	246.46	−1.914%	$22K	$20K	12x	as long as short
BloFin CRWD-USDT	−0.0025%	8h	251.32	+0.020%	$72K	$24K	25x	as long as short
Aster CRWDUSDT	0.0000%	8h	251.20	−0.029%	$4K	$37K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	251.37	+0.041%	$2.5M	$7.0M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	251.22	−0.020%	$1.2M	$552K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	251.15	−0.048%	$602K	$692K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	251.20	−0.028%	$294K	$416K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	251.27	+0.001%	$68K	$60K	—	as long as short
GRVT CRWD_USDT_Perp	0.0000%	8h	250.82	−0.177%	$1K	$121K	10x	as long as short
SunX CRWD-USDT	0.0000%	8h	251.35	+0.032%	$2K	$1.2M	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX CRWD-USDT	0.0000%	8h	251.38	+0.044%	$6K	$7K	20x	as long as short
Phemex CRWDUSDT	0.0000%	8h	251.44	+0.068%	$1.5M	$210K	10x	as long as short
QFEX CRWD-USDlong	+0.0044%	1h	251.27	long leg	$1.2M	$2.6M	10x
Extended CRWD_24_5-USD	+0.0048%	1h	251.13	−0.056%	$100K	—	10x	as long as short
KuCoin CRWDUSDTMshort	+0.0100%	8h	251.20	−0.028%	$34K	$297K	20x
tradeXYZ xyz:CRWD	+0.0108%	1h	251.11	−0.064%	$876K	$666K	10x	as long as short
Paragon para:CRWD	+0.0116%	1h	250.98	−0.116%	$85K	$108K	10x	as long as short
Phoenix CRWD	+0.0160%	1h	250.98	−0.115%	$4	$106K	10x	as long as short