Funding arb · Price arb /

CRV

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0165%/8h= −18.1% APRpaid last 24h −0.068%

Price spread now: Phoenix against BingX+0.775%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$147as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$880.882% of the position

Long on BingX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.591%−$59 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Phoenix is 0.775% dearer against BingX than usual: you sell high and buy low (spread +0.775% now, against zero (this spread has no 7-day history yet)): +$77 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 16 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX CRV-USDC	0.3652	0.0100	pay 0.0100% / 8h	5h 09m	—	$1.7M	—
Short	Phoenix CRV	0.3680	−0.0065	pay 0.0008% / 1h	9m 08s	$26K	$168K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against BingX. 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 BingXbpFee PhoenixbpOrdersPrice spread, now +0.775%Rate

Funding earned: −$34.72
Price spread: +0.775% → 0.000%: $77.49
Slippage, 4 orders: −$71.19
Fee BingX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$45.42
Costs to cover: 0.882%
Break-even: never at this rate

Slippage from BingX: live order book, 3 min ago; Phoenix: live order book, 47 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 BingX live order book, 3 min ago	13.65 bp	29.9 bp −$30	61.3 bp −$613	649.2 bp −$64.9K	1209.1 bp −$604.6K
Sell Phoenix live order book, 47 min ago	1.09 bp	12.7 bp −$13	44.0 bp −$440	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
Phoenix CRVshort	−0.0065%	1h	0.3680	+0.775%	$26K	$168K	10x
Reya CRVRUSDPERP	−0.0048%	1h	0.3653	+0.022%	$16	—	15x	as long as short
Deribit CRV_USDC-PERPETUAL	−0.0024%	1h	0.3652	0.000%	$55K	$48K	25x	as long as short
dYdX CRV-USD	0.0000%	1h	0.3660	+0.206%	$38K	$7K	10x	as long as short
Injective CRV/USDC PERP	+0.0033%	1h	0.3670	+0.493%	$79	$384K	12x	as long as short
Lighter CRV	+0.0096%	1h	0.3652	−0.003%	$384K	$709K	10x	as long as short
Orderly PERP_CRV_USDC	+0.0097%	8h	0.3653	+0.027%	$24K	$902	10x	as long as short
Hyperliquid CRV	+0.0100%	1h	0.3656	+0.104%	$22.2M	$14.8M	10x	as long as short
Aster CRVUSDT	+0.0100%	8h	0.3656	+0.114%	$130K	$180K	10x	as long as short
Pacifica CRV	+0.0100%	1h	0.3660	+0.207%	$371K	$198K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CRVUSDT	+0.0100%	8h	0.3651	−0.027%	$25.3M	$53.6M	75x	as long as short
Bybit CRVUSDT	+0.0100%	8h	0.3649	−0.082%	$27.7M	$17.6M	75x	as long as short
OKX CRV-USDT-SWAP	+0.0100%	8h	0.3650	−0.055%	$8.8M	$20.3M	50x	as long as short
Gate CRV_USDT	+0.0100%	8h	0.3653	+0.027%	$1.9M	$1.3M	50x	as long as short
MEXC CRV_USDT	+0.0100%	8h	0.3651	−0.027%	$14.5M	$5.4M	125x	as long as short
KuCoin CRVUSDTM	+0.0100%	8h	0.3652	0.000%	$6.3M	$8.7M	50x	as long as short
Bitget CRVUSDT	+0.0100%	8h	0.3654	+0.055%	$6.8M	$5.1M	75x	as long as short
BingX CRV-USDClong	+0.0100%	8h	0.3652	long leg	—	$1.7M	—
Backpack CRV_USDC_PERP	+0.0100%	1h	0.3653	+0.038%	$100K	$296K	10x	as long as short
Variational Omni CRV	+0.0100%	8h	0.3668	+0.432%	$1.1M	$102K	—	as long as short
edgeX CRVUSDC	+0.0100%	4h	0.3670	+0.499%	$38K	$172K	20x	as long as short
GRVT CRV_USDT_Perp	+0.0100%	8h	0.3676	+0.664%	$518K	$443K	10x	as long as short
ApeX Omni CRVUSDT	+0.0100%	1h	0.3678	+0.712%	$53K	$684K	50x	as long as short
SunX CRV-USDT	+0.0100%	8h	0.3675	+0.630%	$2K	$1.2M	20x	as long as short
Extended CRV-USD	+0.0104%	1h	0.3651	−0.019%	$239K	$476K	25x	as long as short
Aevo CRV-PERP	+0.0104%	1h	0.3658	+0.151%	$13K	$6K	3x	as long as short
BloFin CRV-USDT	+0.0220%	8h	0.3652	0.000%	$1.4M	$4.0M	75x	as long as short
Coinbase International CRV-PERP-INTX	+0.0344%	1h	0.3658	+0.164%	$381K	$4.1M	50x	as long as short
Kraken Futures PF_CRVUSD	+0.0371%	1h	0.3656	+0.121%	$3.1M	$2.6M	50x	as long as short
GMX CRV/USD [ETH-USDC]	L +0.0419% / S −0.0178%	1h	0.3653	+0.038%	$213K	—	100x	as long as short