Funding arb · Price arb /

CRWD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0064%/8h= −7.1% APRpaid last 24h −0.001%

Price spread now: OKX against QFEX−0.068%7-day average +0.057% · 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−$113as in the Price arb table

costs, in and out, $10k−$1011.007% of the position

Long on QFEX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.008%−$1 on $10k

Price spread, last 4 days (all we have)+0.087%+$9 · spread now −0.068%, 7d avg +0.057%

Together, before fees+0.080%+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and OKX is 0.125% cheaper against QFEX than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.057%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRWD-USD	250.23	0.0064	pay 0.0008% / 1h	17m 34s	$1.2M	$2.7M	10x
Short	OKX CRWD-USDT-SWAP	250.06	0	get 0.0000% / 8h	1h 17m	$592K	$701K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$13.54
Price spread: −0.068% → +0.057%: −$12.46
Slippage, 4 orders: −$80.75
Fee QFEX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$126.75
Costs to cover: 1.007%
Break-even: never at this rate

Slippage from QFEX: live order book, 5 min ago; OKX: live order book, 23 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, 5 min ago	2.40 bp	8.2 bp −$8	16.1 bp −$161	doesn't fit	doesn't fit
Sell OKX live order book, 23 min ago	6.59 bp	52.8 bp −$53	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	244.15	−2.430%	$21K	$20K	12x	as long as short
Aster CRWDUSDT	0.0000%	8h	250.22	−0.005%	$4K	$35K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	250.41	+0.072%	$2.5M	$7.1M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	250.16	−0.028%	$1.1M	$494K	25x	as long as short
OKX CRWD-USDT-SWAPshort	0.0000%	8h	250.06	−0.068%	$592K	$701K	25x
Bitget CRWDUSDT	0.0000%	8h	250.82	+0.236%	$313K	$436K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	250.38	+0.058%	$67K	$60K	—	as long as short
SunX CRWD-USDT	0.0000%	8h	250.46	+0.092%	$2K	$1.1M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	250.57	+0.136%	$6K	$7K	20x	as long as short
Phemex CRWDUSDT	0.0000%	8h	250.41	+0.072%	$1.5M	$211K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin CRWD-USDT	+0.0003%	8h	250.28	+0.020%	$72K	$24K	25x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	250.47	+0.098%	$100K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0050%	1h	250.18	−0.020%	$891K	$676K	10x	as long as short
GRVT CRWD_USDT_Perp	+0.0054%	8h	250.40	+0.068%	$608	$125K	10x	as long as short
QFEX CRWD-USDlong	+0.0064%	1h	250.23	long leg	$1.2M	$2.7M	10x
KuCoin CRWDUSDTM	+0.0100%	8h	250.23	0.000%	$34K	$250K	20x	as long as short
Phoenix CRWD	+0.0286%	1h	250.44	+0.084%	$3	$106K	10x	as long as short
Paragon para:CRWD	+0.0381%	1h	250.06	−0.068%	$84K	$108K	10x	as long as short