Funding you earn now, next payment 22:00 UTC+0.0311%/8h= +34.0% APRpaid last 24h +0.073%
Price spread now: Backpack against edgeX−0.074%85s7-day average +0.109% · you buy dearer than you sell
Net, funding: paid 7d − costs−$73as 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−$710.711% of the position
Funding, last 7 days−0.015%−$2 on $10k
+Price spread, last 3 days (all we have)−0.338%−$34 · spread now −0.074%, 7d avg +0.109%
=Together, before fees−0.353%+ Points / potential airdropedgeX: Active · farm board−$35 on $10k · with fees, hour by hour
Funding pays, the price is against you. Backpack is 0.183% cheaper against edgeX than usual: you would sell low and buy high (spread −0.074% now, against its 7-day average of +0.109%). If the spread goes back, that is −$18 on $10k: about 47 hours of funding at the current rate (+$9 a day). The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.015% in total (about -0.8% 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 | edgeX CRVUSDC | 0.3633 | 0.0100 | pay 0.0050% / 4h | 2h 10m | $38K | $173K | 20x |
| Short | Backpack CRV_USDC_PERP | 0.3630 | 0.0411 | get 0.0051% / 1h | 10m 11s | $104K | $362K | 10x |
edgeX CRVUSDC
Backpack CRV_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against edgeX. 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
- $65.27
- Price spread: −0.074% → +0.109%
- −$18.32
- Slippage, 4 orders
- −$52.1
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$24.16
- Costs to cover
- 0.711%
- Break-even
- 9.6 days
Slippage from edgeX: live order book, 11 min ago; Backpack: live order book, 13 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 edgeX live order book, 11 min ago | 20.62 bp | 25.1 bp −$25 | 65.8 bp −$658 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 13 min ago | 0.14 bp | 13.7 bp −$14 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit CRV_USDC-PERPETUAL | −0.0576% | 1h | 0.3627 | −0.168% | $57K | $48K | 25x | as long as short |
| Injective CRV/USDC PERP | −0.0103% | 1h | 0.3630 | −0.085% | $78 | $265K | 12x | as long as short |
| Reya CRVRUSDPERP | −0.0049% | 1h | 0.3626 | −0.199% | $16 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3628 | −0.129% | $37K | $4K | 10x | as long as short |
| Phoenix CRV | 0.0000% | 1h | 0.3638 | +0.146% | $26K | $193K | 10x | as long as short |
| Orderly PERP_CRV_USDC | +0.0095% | 8h | 0.3627 | −0.168% | $24K | $701 | 10x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3627 | −0.168% | $412K | $703K | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3626 | −0.182% | $130K | $186K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3628 | −0.140% | $373K | $173K | 10x | as long as short |
| Binance CRVUSDT | +0.0100% | 8h | 0.3626 | −0.195% | $25.4M | $58.2M | 75x | as long as short |
Deribit CRV_USDC-PERPETUAL
Injective CRV/USDC PERP
Reya CRVRUSDPERP
dYdX CRV-USD
Phoenix CRV
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 | 0.3626 | −0.195% | $27.6M | $17.3M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3624 | −0.250% | $8.6M | $22.4M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3628 | −0.140% | $2.0M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3625 | −0.223% | $14.5M | $5.7M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3631 | −0.057% | $7.0M | $9.2M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3629 | −0.113% | $6.9M | $5.8M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3625 | −0.223% | — | $1.7M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3625 | −0.210% | $1.1M | $154K | — | as long as short |
| edgeX CRVUSDClong | +0.0100% | 4h | 0.3633 | long leg | $38K | $173K | 20x | |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3630 | −0.085% | $506K | $450K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3633 | −0.002% | $60K | $691K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3674 | +1.126% | $1K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3626 | −0.206% | $241K | $886K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3627 | −0.168% | $19K | $9K | 3x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0164% | 1h | 0.3631 | −0.055% | $3.1M | $3.5M | 50x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3619 | −0.388% | $1.4M | $4.8M | 75x | as long as short |
| Hyperliquid CRV | +0.0273% | 1h | 0.3634 | +0.011% | $22.3M | $17.1M | 10x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0384% | 1h | 0.3624 | −0.250% | $386K | $4.8M | 50x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0400% / S −0.0160% | 1h | 0.3629 | −0.114% | $215K | — | 100x | as long as short |
| Backpack CRV_USDC_PERPshort | +0.0411% | 1h | 0.3630 | −0.074% | $104K | $362K | 10x |
Bybit CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDC
Variational Omni CRV
GRVT CRV_USDT_Perp
ApeX Omni CRVUSDT
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
Kraken Futures PF_CRVUSD
BloFin CRV-USDT
Hyperliquid CRV
Coinbase International CRV-PERP-INTX
GMX CRV/USD [ETH-USDC]