Funding you earn now, next payment 09:00 UTC−0.0092%/8h= −10.0% APRnext payment −$0.11 per $10,000 · paid last 24h +0.058%
Price spread now: Backpack against Lighter+0.042%7-day average +0.027% · you sell dearer than you buy
Net, funding: paid 7d − costs−$14as in the Funding arb table
Net, price: spread back to 7d avg − costs−$28as in the Price arb table
costs, in and out, $10k−$300.298% of the position
Funding, last 7 days+0.159%+$16 on $10k
+Price spread, last 4 days (all we have)−0.881%−$88 · spread now +0.042%, 7d avg +0.027%
=Together, before fees−0.722%+ Points / potential airdropLighter: Season 3 · farm board−$72 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.027%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.159%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter CRV | 0.3596 | 0.0096 | pay 0.0012% / 1h | 59m 52s | $379K | $688K | 10x |
| Short | Backpack CRV_USDC_PERP | 0.3597 | 0.0004 | get 0.0001% / 1h | 59m 52s | $94K | $251K | 10x |
Lighter CRV
Backpack CRV_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter. 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
- −$19.26
- Price spread: +0.042% → +0.027%
- $1.47
- Slippage, 4 orders
- −$19.85
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$47.63
- Costs to cover
- 0.298%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 30 min ago; Backpack: live order book, 33 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 Lighter live order book, 30 min ago | 3.94 bp | 5.6 bp −$6 | 23.7 bp −$237 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 33 min ago | 1.54 bp | 7.8 bp −$8 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya CRVRUSDPERP | −0.0048% | 1h | 0.3594 | −0.038% | $15 | — | 15x | as long as short |
| Variational Omni CRV | −0.0047% | 8h | 0.3590 | −0.163% | $1.1M | $105K | — | as long as short |
| Phoenix CRV | −0.0022% | 1h | 0.3595 | −0.014% | $26K | $190K | 10x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3598 | +0.056% | $40K | $13K | 10x | as long as short |
| Deribit CRV_USDC-PERPETUAL | 0.0000% | 1h | 0.3596 | +0.008% | $54K | $45K | 25x | as long as short |
| Backpack CRV_USDC_PERPshort | +0.0004% | 1h | 0.3597 | +0.042% | $94K | $251K | 10x | |
| Injective CRV/USDC PERP | +0.0033% | 1h | 0.3670 | +2.066% | $79 | $384K | 12x | as long as short |
| Bybit CRVUSDT | +0.0085% | 8h | 0.3592 | −0.103% | $27.0M | $19.0M | 75x | as long as short |
| Lighter CRVlong | +0.0096% | 1h | 0.3596 | long leg | $379K | $688K | 10x | |
| Aster CRVUSDT | +0.0100% | 8h | 0.3600 | +0.120% | $120K | $202K | 10x | as long as short |
Reya CRVRUSDPERP
Variational Omni CRV
Phoenix CRV
dYdX CRV-USD
Deribit CRV_USDC-PERPETUAL
Injective CRV/USDC PERP
Bybit CRVUSDT
Aster CRVUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica CRV | +0.0100% | 1h | 0.3597 | +0.028% | $363K | $200K | 10x | as long as short |
| Binance CRVUSDT | +0.0100% | 8h | 0.3596 | +0.008% | $24.9M | $56.1M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3594 | −0.047% | $8.7M | $20.1M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3598 | +0.064% | $1.9M | $1.2M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3595 | −0.019% | $12.5M | $5.6M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3598 | +0.064% | $6.8M | $8.4M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3597 | +0.036% | $6.7M | $5.4M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3594 | −0.047% | — | $1.7M | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3594 | −0.046% | $37K | $175K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3595 | −0.024% | $502K | $416K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3594 | −0.047% | $52K | $653K | 50x | as long as short |
| Orderly PERP_CRV_USDC | +0.0100% | 8h | 0.3596 | +0.008% | $24K | $850 | 10x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3659 | +1.760% | $1K | $1.3M | 20x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3597 | +0.022% | $13K | $6K | 3x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3596 | +0.008% | $1.3M | $3.8M | 75x | as long as short |
| Extended CRV-USD | +0.0248% | 1h | 0.3593 | −0.062% | $256K | $510K | 25x | as long as short |
| Hyperliquid CRV | +0.0253% | 1h | 0.3601 | +0.156% | $21.4M | $16.7M | 10x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0408% | 1h | 0.3600 | +0.120% | $354K | $4.3M | 50x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0414% / S −0.0177% | 1h | 0.3596 | +0.018% | $210K | — | 100x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0664% | 1h | 0.3601 | +0.152% | $3.0M | $2.5M | 50x | as long as short |
Pacifica CRV
Binance CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDC
edgeX CRVUSDC
GRVT CRV_USDT_Perp
ApeX Omni CRVUSDT
Orderly PERP_CRV_USDC
SunX CRV-USDT
Aevo CRV-PERP
BloFin CRV-USDT
Extended CRV-USD
Hyperliquid CRV
Coinbase International CRV-PERP-INTX
GMX CRV/USD [ETH-USDC]
Kraken Futures PF_CRVUSD