Funding you earn now, next payment 22:00 UTC+0.0291%/8h= +31.9% APRpaid last 24h +0.073%
Price spread now: Backpack against OKX+0.174%7-day average +0.087% · you sell dearer than you buy
Net, funding: paid 7d − costs−$45as in the Funding arb table
Net, price: spread back to 7d avg − costs−$43as in the Price arb table
costs, in and out, $10k−$520.517% of the position
Funding, last 7 days+0.064%+$6 on $10k
+Price spread, last 4 days (all we have)−0.422%−$42 · spread now +0.174%, 7d avg +0.087%
=Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Backpack is 0.087% dearer against OKX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.087%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.064% in total (about 3.4% 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 | OKX CRV-USDT-SWAP | 0.3614 | 0.0100 | pay 0.0100% / 8h | 2h 06m | $8.6M | $22.3M | 50x |
| Short | Backpack CRV_USDC_PERP | 0.3620 | 0.0391 | get 0.0049% / 1h | 6m 43s | $104K | $362K | 10x |
OKX CRV-USDT-SWAP
Backpack CRV_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against OKX. 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
- $61.16
- Price spread: +0.174% → +0.087%
- $8.75
- Slippage, 4 orders
- −$31.67
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $18.23
- Costs to cover
- 0.517%
- Break-even
- 4.9 days
Slippage from OKX: live order book, 2 min ago; Backpack: live order book, 17 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 OKX live order book, 2 min ago | 1.38 bp | 16.5 bp −$16 | 36.3 bp −$363 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 17 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 | −0.0854% | 1h | 0.3619 | +0.138% | $56K | $48K | 25x | as long as short |
| Injective CRV/USDC PERP | −0.0103% | 1h | 0.3630 | +0.443% | $78 | $265K | 12x | as long as short |
| Reya CRVRUSDPERP | −0.0049% | 1h | 0.3621 | +0.188% | $16 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3621 | +0.191% | $37K | $4K | 10x | as long as short |
| Phoenix CRV | 0.0000% | 1h | 0.3627 | +0.351% | $26K | $193K | 10x | as long as short |
| Orderly PERP_CRV_USDC | +0.0095% | 8h | 0.3621 | +0.194% | $24K | $701 | 10x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3615 | +0.028% | $410K | $704K | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3621 | +0.206% | $129K | $186K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3628 | +0.374% | $369K | $177K | 10x | as long as short |
| Binance CRVUSDT | +0.0100% | 8h | 0.3614 | 0.000% | $25.3M | $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 | 0.3617 | +0.083% | $27.5M | $17.3M | 75x | as long as short |
| OKX CRV-USDT-SWAPlong | +0.0100% | 8h | 0.3614 | long leg | $8.6M | $22.3M | 50x | |
| Gate CRV_USDT | +0.0100% | 8h | 0.3622 | +0.221% | $2.0M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3617 | +0.083% | $14.4M | $5.7M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3624 | +0.277% | $7.0M | $9.2M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3618 | +0.111% | $6.8M | $5.8M | 75x | as long as short |
| BingX CRV-USDT | +0.0100% | 8h | 0.3620 | +0.166% | — | $21.6M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3625 | +0.317% | $1.1M | $154K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3625 | +0.297% | $37K | $172K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3629 | +0.415% | $505K | $450K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3626 | +0.332% | $60K | $694K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3672 | +1.605% | $1K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3616 | +0.056% | $241K | $886K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3619 | +0.145% | $19K | $9K | 3x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0164% | 1h | 0.3622 | +0.231% | $3.1M | $3.5M | 50x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3618 | +0.111% | $1.4M | $4.7M | 75x | as long as short |
| Hyperliquid CRV | +0.0254% | 1h | 0.3621 | +0.205% | $22.2M | $17.1M | 10x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0384% | 1h | 0.3624 | +0.277% | $386K | $4.8M | 50x | as long as short |
| Backpack CRV_USDC_PERPshort | +0.0391% | 1h | 0.3620 | +0.174% | $104K | $362K | 10x | |
| GMX CRV/USD [ETH-USDC] | L +0.0400% / S −0.0160% | 1h | 0.3623 | +0.256% | $215K | — | 100x | as long as short |
Bybit CRVUSDT
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDT
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
BloFin CRV-USDT
Hyperliquid CRV
Coinbase International CRV-PERP-INTX
GMX CRV/USD [ETH-USDC]