Funding arb · Price arb /

CRDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0001%/8hpaid last 24h −0.141%

Price spread now: QFEX against Bybit−0.064%7-day average −0.103% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$560.562% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.101%−$10 on $10k

Price spread, last 3 days (all we have)−0.075%−$7 · spread now −0.064%, 7d avg −0.103%

Together, before fees−0.175%−$18 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: QFEX is 0.040% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.103%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CRDOUSDT	188.18	0	get 0.0000% / 8h	4h 23m	$802K	$794K	25x
Short	QFEX CRDO-USD	188.06	−0.0001	pay 0.0000% / 1h	23m 48s	$1.1M	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Bybit. 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 BybitbpFee QFEXbpOrdersPrice spread, now −0.064%Rate

Funding earned: −$0.24
Price spread: −0.064% → −0.103%: $3.95
Slippage, 4 orders: −$35.16
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$52.44
Costs to cover: 0.562%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; QFEX: live order book, 8 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 Bybit live order book, 5 min ago	5.07 bp	14.1 bp −$14	131.4 bp −$1,314	doesn't fit	doesn't fit
Sell QFEX live order book, 8 min ago	1.61 bp	11.0 bp −$11	16.7 bp −$167	doesn't fit	doesn't fit

CRDO on 15 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
QFEX CRDO-USDshort	−0.0001%	1h	188.06	−0.064%	$1.1M	$2.7M	10x
Aster CRDOUSDT	0.0000%	8h	188.21	+0.015%	$38K	$10K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	188.11	−0.040%	$4.5M	$8.6M	20x	as long as short
Bybit CRDOUSDTlong	0.0000%	8h	188.18	long leg	$802K	$794K	25x
OKX CRDO-USDT-SWAP	0.0000%	8h	188.12	−0.032%	$897K	$1.7M	20x	as long as short
Gate CRDO_USDT	0.0000%	8h	188.03	−0.080%	$655K	$144K	20x	as long as short
Bitget CRDOUSDT	0.0000%	8h	188.04	−0.074%	$1.7M	$1.7M	20x	as long as short
Variational Omni CRDO	0.0000%	8h	187.46	−0.383%	$201K	$33K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	186.95	−0.656%	$836	$159K	10x	as long as short
SunX CRDO-USDT	0.0000%	8h	188.08	−0.053%	$1K	$665K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX CRDO-USDT	0.0000%	8h	187.66	−0.276%	$8K	$37K	20x	as long as short
Extended CRDO_24_5-USD	+0.0040%	1h	188.13	−0.028%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	188.12	−0.032%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	188.07	−0.058%	$189K	$956K	20x	as long as short
Paragon para:CRDO	+0.0511%	1h	188.10	−0.043%	$963K	$213K	10x	as long as short