Funding arb · Price arb /

CRWV

RWAall CRWV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0184%/8h= +20.2% APRpaid last 24h +0.027%

Price spread now: Phoenix against Binance−0.038%105s7-day average — · you buy dearer than you sell

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

Long on Binance Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.038% cheaper against Binance than usual: you would sell low and buy high (spread −0.038% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 16 hours of funding at the current rate (+$6 a day). The two prices were read 105 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CRWVUSDT	85.842	0.0093	pay 0.0093% / 8h	5h 57m	$9.6M	$17.1M	25x
Short	Phoenix CRWV	85.810	0.0278	get 0.0035% / 1h	57m 48s	$1K	$45K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Binance. 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 BinancebpFee PhoenixbpOrdersPrice spread, now −0.038%Rate

Funding earned: $38.7
Price spread: −0.038% → 0.000%: −$3.77
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $17.93
Costs to cover: 0.170%
Break-even: 3.8 days

Slippage unknown: Binance: live order book, 13 min ago; Phoenix: 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 Binance live order book, 13 min ago	1.75 bp	10.1 bp −$10	20.0 bp −$200	80.1 bp −$8,010	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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.

CRWV on 22 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
Aster CRWVUSDT	0.0000%	8h	85.987	+0.168%	$37K	$35K	20x	as long as short
OKX CRWV-USDT-SWAP	0.0000%	8h	85.850	+0.009%	$2.6M	$4.6M	25x	as long as short
Gate CRWV_USDT	0.0000%	8h	85.820	−0.026%	$5.5M	$3.9M	50x	as long as short
Bitget CRWVUSDT	0.0000%	8h	85.850	+0.009%	$2.1M	$2.0M	20x	as long as short
GRVT CRWV_USDT_Perp	0.0000%	8h	85.790	−0.061%	$2K	$191K	10x	as long as short
SunX CRWV-USDT	0.0000%	8h	85.730	−0.131%	$1K	$4.7M	10x	as long as short
HTX CRWV-USDT	0.0000%	8h	85.830	−0.014%	$140K	$2K	20x	as long as short
QFEX CRWV-USD	+0.0018%	1h	85.720	−0.143%	$1.4M	$2.8M	10x	as long as short
Variational Omni CRWV	+0.0020%	8h	85.790	−0.061%	$313K	$309K	—	as long as short
Lighter CRWV	+0.0032%	1h	85.920	+0.090%	$104K	$29K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRWV	+0.0032%	1h	85.840	−0.003%	$417K	$352K	10x	as long as short
Arcus CRWV-USD	+0.0040%	1h	85.730	−0.131%	$64K	$79K	10x	as long as short
Vest CRWV-USD-PERP	+0.0046%	1h	85.770	−0.084%	—	$156K	10x	as long as short
Ondo Perps CRWV-USD.P	+0.0050%	1h	85.770	−0.084%	$331K	$133K	10x	as long as short
tradeXYZ xyz:CRWV	+0.0083%	1h	85.820	−0.026%	$9.7M	$8.2M	10x	as long as short
Binance CRWVUSDTlong	+0.0093%	8h	85.842	long leg	$9.6M	$17.1M	25x
Extended CRWV-USD	+0.0096%	1h	85.785	−0.067%	$16K	$307K	10x	as long as short
KuCoin CRWVUSDTM	+0.0100%	8h	85.780	−0.073%	$362K	$531K	20x	as long as short
Polymarket Perps CRWV-USD	+0.0239%	1h	85.806	−0.042%	$84K	$288K	10x	as long as short
Bybit CRWVUSDT	+0.0273%	8h	85.890	+0.056%	$2.2M	$1.1M	25x	as long as short
Phoenix CRWVshort	+0.0278%	1h	85.810	−0.038%	$1K	$45K	10x
edgeX CRWVUSDC	+0.0760%	4h	85.798	−0.051%	$88K	$203K	10x	as long as short