Funding arb · Price arb /

CRV

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0284%/8h= +31.1% APRpaid last 24h +0.006%

Price spread now: Coinbase International against OKX−0.168%7-day average +0.127% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$600.598% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 4 days (all we have)+0.250%+$25 · spread now −0.168%, 7d avg +0.127%

Together, before fees+0.302%+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.295% cheaper against OKX than usual: you would sell low and buy high (spread −0.168% now, against its 7-day average of +0.127%). If the spread goes back, that is −$29 on $10k: about 3.5 days of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.053% in total) that is about 39 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.053% in total (about 2.8% 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	OKX CRV-USDT-SWAP	0.3574	0.0100	pay 0.0100% / 8h	1h 27m	$8.7M	$20.5M	50x
Short	Coinbase International CRV-PERP-INTX	0.3568	0.0384	get 0.0048% / 1h	27m 41s	$349K	$4.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.168%Rate

Funding earned: $59.64
Price spread: −0.168% → +0.127%: −$29.47
Slippage, 4 orders: −$39.79
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$29.62
Costs to cover: 0.598%
Break-even: 10.5 days

Slippage from OKX: live order book, 1 min ago; Coinbase International: live order book, 1 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, 1 min ago	1.40 bp	14.8 bp −$15	35.9 bp −$359	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	7.02 bp	12.0 bp −$12	18.1 bp −$181	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	−0.0311%	1h	0.3560	−0.392%	$54K	$45K	25x	as long as short
Reya CRVRUSDPERP	−0.0048%	1h	0.3561	−0.365%	$15	—	15x	as long as short
Phoenix CRV	−0.0045%	1h	0.3568	−0.182%	$25K	$187K	10x	as long as short
Backpack CRV_USDC_PERP	−0.0041%	1h	0.3563	−0.308%	$97K	$216K	10x	as long as short
dYdX CRV-USD	0.0000%	1h	0.3562	−0.342%	$37K	$8K	10x	as long as short
Injective CRV/USDC PERP	+0.0033%	1h	0.3670	+2.686%	$79	$384K	12x	as long as short
Variational Omni CRV	+0.0053%	8h	0.3565	−0.255%	$1.1M	$94K	—	as long as short
Lighter CRV	+0.0096%	1h	0.3562	−0.325%	$377K	$715K	10x	as long as short
Hyperliquid CRV	+0.0100%	1h	0.3567	−0.199%	$20.8M	$16.6M	10x	as long as short
Aster CRVUSDT	+0.0100%	8h	0.3565	−0.241%	$114K	$195K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica CRV	+0.0100%	1h	0.3564	−0.275%	$362K	$198K	10x	as long as short
Binance CRVUSDT	+0.0100%	8h	0.3566	−0.233%	$24.6M	$57.5M	75x	as long as short
Bybit CRVUSDT	+0.0100%	8h	0.3568	−0.168%	$27.0M	$19.7M	75x	as long as short
OKX CRV-USDT-SWAPlong	+0.0100%	8h	0.3574	long leg	$8.7M	$20.5M	50x
Gate CRV_USDT	+0.0100%	8h	0.3563	−0.308%	$1.8M	$1.3M	50x	as long as short
MEXC CRV_USDT	+0.0100%	8h	0.3567	−0.196%	$12.5M	$5.7M	125x	as long as short
KuCoin CRVUSDTM	+0.0100%	8h	0.3565	−0.252%	$5.9M	$8.2M	50x	as long as short
Bitget CRVUSDT	+0.0100%	8h	0.3576	+0.056%	$6.7M	$5.4M	75x	as long as short
BingX CRV-USDC	+0.0100%	8h	0.3573	−0.028%	—	$1.6M	—	as long as short
edgeX CRVUSDC	+0.0100%	4h	0.3565	−0.245%	$37K	$174K	20x	as long as short
GRVT CRV_USDT_Perp	+0.0100%	8h	0.3570	−0.112%	$505K	$435K	10x	as long as short
ApeX Omni CRVUSDT	+0.0100%	1h	0.3568	−0.168%	$53K	$682K	50x	as long as short
Orderly PERP_CRV_USDC	+0.0100%	8h	0.3560	−0.392%	$24K	$928	10x	as long as short
SunX CRV-USDT	+0.0100%	8h	0.3632	+1.623%	$1K	$1.3M	20x	as long as short
Extended CRV-USD	+0.0104%	1h	0.3562	−0.332%	$253K	$510K	25x	as long as short
Aevo CRV-PERP	+0.0104%	1h	0.3560	−0.378%	$13K	$6K	3x	as long as short
BloFin CRV-USDT	+0.0220%	8h	0.3561	−0.364%	$1.3M	$3.9M	75x	as long as short
Coinbase International CRV-PERP-INTXshort	+0.0384%	1h	0.3568	−0.168%	$349K	$4.4M	50x
GMX CRV/USD [ETH-USDC]	L +0.0413% / S −0.0177%	1h	0.3561	−0.352%	$208K	—	100x	as long as short
Kraken Futures PF_CRVUSD	+0.0562%	1h	0.3565	−0.251%	$3.0M	$2.8M	50x	as long as short