Funding arb · Price arb /

CRDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0006%/8h= −0.6% APRpaid last 24h −0.003%

Price spread now: QFEX against Gate−0.228%7-day average −0.047% · 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−$138as in the Price arb table

costs, in and out, $10k−$1201.202% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.005%$0 on $10k

Price spread, last 4 days (all we have)+0.205%+$20 · spread now −0.228%, 7d avg −0.047%

Together, before fees+0.200%+$20 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 0.181% cheaper against Gate than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CRDO_USDT	184.21	0	get 0.0000% / 8h	2h 47m	$657K	$126K	20x
Short	QFEX CRDO-USD	183.79	−0.0006	pay 0.0001% / 1h	47m 39s	$1.1M	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Gate. 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 GatebpFee QFEXbpOrdersPrice spread, now −0.228%Rate

Funding earned: −$1.18
Price spread: −0.228% → −0.047%: −$18.07
Slippage, 4 orders: −$95.24
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$139.49
Costs to cover: 1.202%
Break-even: never at this rate

Slippage from Gate: live order book, 64 min ago; QFEX: 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 Gate live order book, 64 min ago	5.58 bp	30.5 bp −$30	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	1.63 bp	11.2 bp −$11	19.8 bp −$198	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
Bitget CRDOUSDT	−0.1280%	8h	184.08	−0.071%	$1.6M	$1.5M	20x	as long as short
QFEX CRDO-USDshort	−0.0006%	1h	183.79	−0.228%	$1.1M	$2.5M	10x
Aster CRDOUSDT	0.0000%	8h	184.11	−0.053%	$37K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	183.99	−0.117%	$4.1M	$8.7M	20x	as long as short
Bybit CRDOUSDT	0.0000%	8h	183.99	−0.119%	$701K	$748K	25x	as long as short
OKX CRDO-USDT-SWAP	0.0000%	8h	183.85	−0.195%	$940K	$1.5M	20x	as long as short
Gate CRDO_USDTlong	0.0000%	8h	184.21	long leg	$657K	$126K	20x
Variational Omni CRDO	0.0000%	8h	184.48	+0.148%	$230K	$104K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	184.43	+0.121%	$692	$125K	10x	as long as short
SunX CRDO-USDT	0.0000%	8h	184.39	+0.098%	$964	$513K	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	184.58	+0.201%	$8K	$41K	20x	as long as short
Extended CRDO_24_5-USD	+0.0040%	1h	183.78	−0.236%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	183.87	−0.185%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	183.88	−0.179%	$196K	$854K	20x	as long as short
Paragon para:CRDO	+0.1064%	1h	184.25	+0.022%	$1.3M	$469K	10x	as long as short