Funding you earn now, next payment 20:00 UTC0.0000%/8hpaid last 24h +0.066%
Price spread now: Backpack against Bybit−0.427%46s7-day average +0.104% · you buy dearer than you sell
Net, funding: paid 7d − costs−$40as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$470.469% of the position
Funding, last 7 days+0.072%+$7 on $10k
+Price spread, last 3 days (all we have)+0.436%+$44 · spread now −0.427%, 7d avg +0.104%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.531% cheaper against Bybit than usual: you would sell low and buy high, −$53 on $10k if it goes back to its 7-day average of +0.104%. The two prices were read 46 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 | Bybit CRVUSDT | 0.3630 | 0.0100 | pay 0.0100% / 8h | 4h 07m | $27.4M | $16.6M | 75x |
| Short | Backpack CRV_USDC_PERP | 0.3614 | 0.0100 | get 0.0013% / 1h | 7m 19s | $104K | $367K | 10x |
Bybit CRVUSDT
Backpack CRV_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Bybit. 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
- $0
- Price spread: −0.427% → +0.104%
- −$53.06
- Slippage, 4 orders
- −$25.85
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$99.91
- Costs to cover
- 0.469%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 1 min ago; Backpack: live order book, 25 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 Bybit live order book, 1 min ago | 1.38 bp | 17.6 bp −$18 | 30.0 bp −$300 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 25 min ago | 0.14 bp | 10.7 bp −$11 | doesn't fit | 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 CRV | −0.0203% | 1h | 0.3606 | −0.653% | $26K | $169K | 10x | as long as short |
| Reya CRVRUSDPERP | −0.0049% | 1h | 0.3620 | −0.263% | $16 | — | 15x | as long as short |
| Coinbase International CRV-PERP-INTX | −0.0032% | 1h | 0.3610 | −0.551% | $426K | $4.5M | 50x | as long as short |
| Injective CRV/USDC PERP | −0.0031% | 1h | 0.3560 | −1.928% | $76 | $233K | 12x | as long as short |
| Deribit CRV_USDC-PERPETUAL | −0.0028% | 1h | 0.3595 | −0.964% | $58K | $50K | 25x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3620 | −0.276% | $37K | $3K | 10x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3618 | −0.331% | $416K | $688K | 10x | as long as short |
| Orderly PERP_CRV_USDC | +0.0097% | 8h | 0.3628 | −0.055% | $24K | $652 | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3618 | −0.328% | $136K | $181K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3619 | −0.299% | $367K | $146K | 10x | as long as short |
Phoenix CRV
Reya CRVRUSDPERP
Coinbase International CRV-PERP-INTX
Injective CRV/USDC PERP
Deribit CRV_USDC-PERPETUAL
dYdX CRV-USD
Lighter CRV
Orderly PERP_CRV_USDC
Aster CRVUSDT
Pacifica CRVShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CRVUSDT | +0.0100% | 8h | 0.3630 | +0.011% | $25.3M | $56.7M | 75x | as long as short |
| Bybit CRVUSDTlong | +0.0100% | 8h | 0.3630 | long leg | $27.4M | $16.6M | 75x | |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3626 | −0.110% | $8.7M | $21.5M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3622 | −0.220% | $1.9M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3618 | −0.331% | $14.7M | $5.5M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3626 | −0.110% | $7.0M | $8.7M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3629 | −0.028% | $6.9M | $5.8M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3627 | −0.083% | — | $1.6M | — | as long as short |
| Backpack CRV_USDC_PERPshort | +0.0100% | 1h | 0.3614 | −0.427% | $104K | $367K | 10x | |
| Variational Omni CRV | +0.0100% | 8h | 0.3575 | −1.502% | $1.1M | $144K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3591 | −1.070% | $37K | $171K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3580 | −1.377% | $508K | $447K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3596 | −0.937% | $47K | $685K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3665 | +0.964% | $1K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3626 | −0.117% | $289K | $833K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3628 | −0.063% | $19K | $9K | 3x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0177% / S +0.0236% | 1h | 0.3619 | −0.303% | $245K | — | 100x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3607 | −0.634% | $1.4M | $4.2M | 75x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0396% | 1h | 0.3601 | −0.795% | $3.0M | $3.7M | 50x | as long as short |
| Hyperliquid CRV | +0.0778% | 1h | 0.3630 | −0.011% | $22.3M | $15.8M | 10x | as long as short |
Binance CRVUSDT
OKX CRV-USDT-SWAP
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
GMX CRV/USD [ETH-USDC]
BloFin CRV-USDT
Kraken Futures PF_CRVUSD
Hyperliquid CRV