Funding arb · Price arb /

CRV

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0582%/8h= +63.8% APRpaid last 24h +0.049%

Price spread now: Kraken Futures against OKX+0.262%45s7-day average +0.132% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as 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−$570.573% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.206%+$21 on $10k

Price spread, last 4 days (all we have)−0.042%−$4 · spread now +0.262%, 7d avg +0.132%

Together, before fees+0.165%+$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Kraken Futures is 0.130% dearer against OKX than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.132%. The two prices were read 45 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 0.206% in total (about 10.8% 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	0.3555	0.0100	pay 0.0100% / 8h	2h 23m	$8.7M	$20.0M	50x
Short	Kraken Futures PF_CRVUSD	0.3564	0.0682	get 0.0085% / 1h	23m 25s	$3.0M	$2.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.262%Rate

Funding earned: $122.32
Price spread: +0.262% → +0.132%: $12.99
Slippage, 4 orders: −$37.25
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $78.05
Costs to cover: 0.573%
Break-even: 2.5 days

Slippage from OKX: live order book, 5 min ago; Kraken Futures: live order book, 5 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, 5 min ago	1.41 bp	14.2 bp −$14	35.1 bp −$351	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	7.04 bp	12.0 bp −$12	43.4 bp −$434	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
Backpack CRV_USDC_PERP	−0.0120%	1h	0.3562	+0.200%	$93K	$261K	10x	as long as short
Reya CRVRUSDPERP	−0.0048%	1h	0.3554	−0.016%	$15	—	15x	as long as short
dYdX CRV-USD	0.0000%	1h	0.3557	+0.061%	$37K	$8K	10x	as long as short
Deribit CRV_USDC-PERPETUAL	0.0000%	1h	0.3560	+0.141%	$54K	$45K	25x	as long as short
Injective CRV/USDC PERP	+0.0033%	1h	0.3670	+3.235%	$79	$384K	12x	as long as short
Phoenix CRV	+0.0045%	1h	0.3564	+0.264%	$25K	$177K	10x	as long as short
Variational Omni CRV	+0.0081%	8h	0.3546	−0.256%	$1.1M	$95K	—	as long as short
Lighter CRV	+0.0096%	1h	0.3554	−0.031%	$378K	$704K	10x	as long as short
Hyperliquid CRV	+0.0100%	1h	0.3558	+0.079%	$20.6M	$16.2M	10x	as long as short
Aster CRVUSDT	+0.0100%	8h	0.3557	+0.051%	$112K	$193K	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	0.3555	+0.009%	$361K	$198K	10x	as long as short
Binance CRVUSDT	+0.0100%	8h	0.3555	0.000%	$24.5M	$56.4M	75x	as long as short
Bybit CRVUSDT	+0.0100%	8h	0.3553	−0.056%	$26.8M	$19.0M	75x	as long as short
OKX CRV-USDT-SWAPlong	+0.0100%	8h	0.3555	long leg	$8.7M	$20.0M	50x
Gate CRV_USDT	+0.0100%	8h	0.3556	+0.028%	$1.8M	$1.4M	50x	as long as short
MEXC CRV_USDT	+0.0100%	8h	0.3555	0.000%	$12.6M	$5.6M	125x	as long as short
KuCoin CRVUSDTM	+0.0100%	8h	0.3556	+0.028%	$5.9M	$8.3M	50x	as long as short
Bitget CRVUSDT	+0.0100%	8h	0.3557	+0.056%	$6.6M	$5.3M	75x	as long as short
BingX CRV-USDT	+0.0100%	8h	0.3554	−0.028%	—	$23.5M	—	as long as short
edgeX CRVUSDC	+0.0100%	4h	0.3545	−0.287%	$37K	$173K	20x	as long as short
GRVT CRV_USDT_Perp	+0.0100%	8h	0.3560	+0.140%	$500K	$431K	10x	as long as short
ApeX Omni CRVUSDT	+0.0100%	1h	0.3547	−0.225%	$53K	$683K	50x	as long as short
Orderly PERP_CRV_USDC	+0.0100%	8h	0.3559	+0.113%	$24K	$902	10x	as long as short
SunX CRV-USDT	+0.0100%	8h	0.3642	+2.447%	$1K	$1.3M	20x	as long as short
Extended CRV-USD	+0.0104%	1h	0.3553	−0.056%	$252K	$494K	25x	as long as short
Aevo CRV-PERP	+0.0104%	1h	0.3560	+0.152%	$13K	$6K	3x	as long as short
BloFin CRV-USDT	+0.0220%	8h	0.3551	−0.113%	$1.3M	$3.9M	75x	as long as short
GMX CRV/USD [ETH-USDC]	L +0.0414% / S −0.0177%	1h	0.3558	+0.077%	$208K	—	100x	as long as short
Coinbase International CRV-PERP-INTX	+0.0432%	1h	0.3558	+0.084%	$355K	$4.2M	50x	as long as short
Kraken Futures PF_CRVUSDshort	+0.0682%	1h	0.3564	+0.262%	$3.0M	$2.6M	50x