Funding arb · Price arb /

CRWD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.017%

Price spread now: Injective against Variational Omni−1.559%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Injective is 1.559% cheaper against Variational Omni than usual: you would sell low and buy high (spread −1.559% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$156 on $10k: about 5 months of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CRWD	250.40	0	get 0.0000% / 8h	4h 09m	$71K	$54K	—
Short	Injective CRWD/USDC PERP	246.50	0.0033	get 0.0004% / 1h	9m 11s	$22K	$20K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Variational Omni. 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 Variational OmnibpFee InjectivebpOrdersPrice spread, now −1.559%Rate

Funding earned: $7
Price spread: −1.559% → 0.000%: −$155.89
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$148.91
Costs to cover: 0.000%
Break-even: 155.9 days

Slippage unknown: Variational Omni: no order-book sample; Injective: no order-book sample. 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 Variational Omni no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Variational Omni and Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CRWD on 18 exchanges

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
Aster CRWDUSDT	0.0000%	8h	250.35	−0.022%	$4K	$36K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	250.45	+0.019%	$2.5M	$7.6M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	250.23	−0.069%	$1.2M	$471K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	250.20	−0.081%	$547K	$779K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	250.27	−0.053%	$306K	$408K	20x	as long as short
Variational Omni CRWDlong	0.0000%	8h	250.40	long leg	$71K	$54K	—
GRVT CRWD_USDT_Perp	0.0000%	8h	250.40	−0.001%	$388	$129K	10x	as long as short
SunX CRWD-USDT	0.0000%	8h	250.42	+0.007%	$2K	$1.0M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	250.62	+0.086%	$6K	$7K	20x	as long as short
Phemex CRWDUSDT	0.0000%	8h	250.45	+0.019%	$1.5M	$239K	10x	as long as short

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin CRWD-USDT	+0.0028%	8h	250.45	+0.019%	$71K	$23K	25x	as long as short
Injective CRWD/USDC PERPshort	+0.0033%	1h	246.50	−1.559%	$22K	$20K	12x
QFEX CRWD-USD	+0.0033%	1h	250.33	−0.029%	$1.2M	$2.6M	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	250.08	−0.131%	$100K	$200	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	250.32	−0.033%	$36K	$496K	20x	as long as short
tradeXYZ xyz:CRWD	+0.0104%	1h	250.20	−0.081%	$898K	$697K	10x	as long as short
Phoenix CRWD	+0.0128%	1h	250.32	−0.033%	$5	$120K	10x	as long as short
Paragon para:CRWD	+0.0144%	1h	250.20	−0.082%	$84K	$108K	10x	as long as short