Funding you earn now, next payment 00:00 UTC−0.0461%/8h= −50.5% APRpaid last 24h −0.063%
Price spread now: OKX against Backpack−0.044%7-day average −0.092% · you buy dearer than you sell
Net, funding: paid 7d − costs−$54as in the Funding arb table
Net, price: spread back to 7d avg − costs−$41as in the Price arb table
costs, in and out, $10k−$450.454% of the position
Funding, last 7 days−0.085%−$9 on $10k
+Price spread, last 4 days (all we have)+0.116%+$12 · spread now −0.044%, 7d avg −0.092%
=The price spread pays, funding is against you. OKX is 0.048% dearer against Backpack than usual: you sell high and buy low (spread −0.044% now, against its 7-day average of −0.092%): +$5 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−0.085% in total) that is about 4.0 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.085% in total (about -4.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack CRV_USDC_PERP | 0.3649 | 0.0561 | pay 0.0070% / 1h | 23m 31s | $106K | $305K | 10x |
| Short | OKX CRV-USDT-SWAP | 0.3647 | 0.0100 | get 0.0100% / 8h | 23m 31s | $8.8M | $21.5M | 50x |
Backpack CRV_USDC_PERP
OKX CRV-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$96.91
- Price spread: −0.044% → −0.092%
- $4.84
- Slippage, 4 orders
- −$25.39
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$137.47
- Costs to cover
- 0.454%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 55 min ago; OKX: live order book, 5 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 Backpack live order book, 55 min ago | 0.14 bp | 7.0 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell OKX live order book, 5 min ago | 1.37 bp | 15.7 bp −$16 | 44.1 bp −$441 | doesn't fit | doesn't fit |
CRV on 30 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit CRV_USDC-PERPETUAL | −0.0298% | 1h | 0.3646 | −0.071% | $56K | $49K | 25x | as long as short |
| Injective CRV/USDC PERP | −0.0146% | 1h | 0.3670 | +0.587% | $79 | $384K | 12x | as long as short |
| Phoenix CRV | −0.0108% | 1h | 0.3649 | +0.003% | $26K | $176K | 10x | as long as short |
| Reya CRVRUSDPERP | −0.0049% | 1h | 0.3647 | −0.031% | $16 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3650 | +0.030% | $38K | $5K | 10x | as long as short |
| Orderly PERP_CRV_USDC | +0.0096% | 8h | 0.3650 | +0.038% | $24K | $929 | 10x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3647 | −0.041% | $413K | $736K | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3651 | +0.076% | $130K | $186K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3647 | −0.038% | $368K | $208K | 10x | as long as short |
| Binance CRVUSDT | +0.0100% | 8h | 0.3649 | +0.011% | $25.6M | $56.4M | 75x | as long as short |
Deribit CRV_USDC-PERPETUAL
Injective CRV/USDC PERP
Phoenix CRV
Reya CRVRUSDPERP
dYdX CRV-USD
Orderly PERP_CRV_USDC
Lighter CRV
Aster CRVUSDT
Pacifica CRV
Binance CRVUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit CRVUSDT | +0.0100% | 8h | 0.3647 | −0.044% | $27.7M | $17.3M | 75x | as long as short |
| OKX CRV-USDT-SWAPshort | +0.0100% | 8h | 0.3647 | −0.044% | $8.8M | $21.5M | 50x | |
| Gate CRV_USDT | +0.0100% | 8h | 0.3650 | +0.038% | $1.9M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3648 | −0.016% | $14.4M | $5.3M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3653 | +0.121% | $7.3M | $9.2M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3652 | +0.093% | $6.9M | $5.6M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3649 | +0.011% | — | $1.7M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3658 | +0.260% | $1.1M | $110K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3648 | −0.028% | $38K | $172K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3665 | +0.461% | $518K | $419K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3647 | −0.044% | $60K | $697K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3663 | +0.395% | $1K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3647 | −0.050% | $243K | $883K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3646 | −0.058% | $19K | $9K | 3x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0157% | 1h | 0.3651 | +0.059% | $3.1M | $2.9M | 50x | as long as short |
| Hyperliquid CRV | +0.0201% | 1h | 0.3653 | +0.129% | $22.7M | $16.5M | 10x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3645 | −0.099% | $1.4M | $4.4M | 75x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0384% | 1h | 0.3651 | +0.066% | $381K | $4.7M | 50x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0437% / S −0.0186% | 1h | 0.3651 | +0.078% | $229K | — | 100x | as long as short |
| Backpack CRV_USDC_PERPlong | +0.0561% | 1h | 0.3649 | long leg | $106K | $305K | 10x |
Bybit CRVUSDT
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDC
Variational Omni CRV
edgeX CRVUSDC
GRVT CRV_USDT_Perp
ApeX Omni CRVUSDT
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
Kraken Futures PF_CRVUSD
Hyperliquid CRV
BloFin CRV-USDT
Coinbase International CRV-PERP-INTX
GMX CRV/USD [ETH-USDC]