Funding arb · Price arb /

CRDO

RWAall CRDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1168%/8h= −127.9% APRpaid last 24h −0.134%

Price spread now: Gate against Paragon−0.228%7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$189as in the Funding arb table

Net, price: spread back to 7d avg − costs−$157as in the Price arb table

costs, in and out, $10k−$1321.325% of the position

Long on Paragon Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.564%−$56 on $10k

Price spread, last 4 days (all we have)+0.151%+$15 · spread now −0.228%, 7d avg +0.020%

Together, before fees−0.413%−$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$35 a day on $10k at the current rate, and Gate is 0.248% cheaper against Paragon than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of +0.020%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.564% in total (about -29.4% 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	Paragon para:CRDO	190.65	0.1168	pay 0.0146% / 1h	58m 17s	$1.3M	$439K	10x
Short	Gate CRDO_USDT	190.21	0	get 0.0000% / 8h	6h 58m	$661K	$120K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Paragon. 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 ParagonbpFee GatebpOrdersPrice spread, now −0.228%Rate

Funding earned: −$245.28
Price spread: −0.228% → +0.020%: −$24.79
Slippage, 4 orders: −$107.48
Fee Paragon: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$402.55
Costs to cover: 1.325%
Break-even: never at this rate

Slippage from Paragon: live order book, 9 min ago; Gate: 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 Paragon live order book, 9 min ago	3.92 bp	19.6 bp −$20	53.0 bp −$530	doesn't fit	doesn't fit
Sell Gate live order book, 8 min ago	6.82 bp	23.2 bp −$23	doesn't fit	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-USD	−0.0017%	1h	190.09	−0.291%	$1.1M	$3.0M	10x	as long as short
Aster CRDOUSDT	0.0000%	8h	190.40	−0.129%	$38K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	190.03	−0.325%	$4.3M	$8.2M	20x	as long as short
Bybit CRDOUSDT	0.0000%	8h	190.22	−0.223%	$719K	$812K	25x	as long as short
OKX CRDO-USDT-SWAP	0.0000%	8h	190.10	−0.286%	$917K	$1.5M	20x	as long as short
Gate CRDO_USDTshort	0.0000%	8h	190.21	−0.228%	$661K	$120K	20x
Bitget CRDOUSDT	0.0000%	8h	190.23	−0.218%	$1.7M	$1.6M	20x	as long as short
Variational Omni CRDO	0.0000%	8h	190.35	−0.154%	$223K	$59K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	190.43	−0.115%	$267	$133K	10x	as long as short
SunX CRDO-USDT	0.0000%	8h	190.28	−0.192%	$864	$556K	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	190.22	−0.223%	$8K	$39K	20x	as long as short
Extended CRDO_24_5-USD	+0.0040%	1h	190.25	−0.210%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	190.21	−0.228%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	190.25	−0.207%	$197K	$904K	20x	as long as short
Paragon para:CRDOlong	+0.1168%	1h	190.65	long leg	$1.3M	$439K	10x