Funding arb · Price arb /

CRDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0825%/8h= −90.3% APRpaid last 24h −0.168%

Price spread now: KuCoin against Paragon−0.019%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$565as in the Funding arb table

Net, price: spread back to 7d avg − costs−$525as in the Price arb table

costs, in and out, $10k−$5275.266% of the position

Long on Paragon Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.380%−$38 on $10k

Price spread, last 4 days (all we have)−0.015%−$1 · spread now −0.019%, 7d avg −0.032%

Together, before fees−0.395%−$39 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.032%, so right now this pair is about funding alone: −$25 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.380% in total (about -19.8% 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	Paragon para:CRDO	182.94	0.0925	pay 0.0116% / 1h	7m 09s	$1.3M	$488K	10x
Short	KuCoin CRDOUSDTM	182.91	0.0100	get 0.0100% / 8h	2h 07m	$192K	$843K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.019%Rate

Funding earned: −$173.18
Price spread: −0.019% → −0.032%: $1.26
Slippage, 4 orders: −$504.56
Fee Paragon: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$698.48
Costs to cover: 5.266%
Break-even: never at this rate

Slippage from Paragon: live order book, 10 min ago; KuCoin: live order book, 32 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, 10 min ago	5.22 bp	26.8 bp −$27	52.3 bp −$523	doesn't fit	doesn't fit
Sell KuCoin live order book, 32 min ago	5.22 bp	220.5 bp −$220	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
Bitget CRDOUSDT	−0.1920%	8h	182.69	−0.139%	$1.7M	$1.8M	20x	as long as short
QFEX CRDO-USD	−0.0006%	1h	182.95	+0.003%	$1.1M	$2.4M	10x	as long as short
Aster CRDOUSDT	0.0000%	8h	183.09	+0.081%	$37K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	183.01	+0.036%	$4.0M	$9.3M	20x	as long as short
Bybit CRDOUSDT	0.0000%	8h	182.97	+0.014%	$704K	$773K	25x	as long as short
OKX CRDO-USDT-SWAP	0.0000%	8h	182.90	−0.025%	$922K	$1.6M	20x	as long as short
Gate CRDO_USDT	0.0000%	8h	182.86	−0.046%	$628K	$139K	20x	as long as short
Variational Omni CRDO	0.0000%	8h	182.82	−0.069%	$198K	$133K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	182.83	−0.063%	$545	$131K	10x	as long as short
SunX CRDO-USDT	0.0000%	8h	183.04	+0.052%	$824	$509K	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	182.81	−0.074%	$8K	$41K	20x	as long as short
Extended CRDO_24_5-USD	+0.0040%	1h	182.82	−0.068%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	182.82	−0.068%	—	—	5x	as long as short
KuCoin CRDOUSDTMshort	+0.0100%	8h	182.91	−0.019%	$192K	$843K	20x
Paragon para:CRDOlong	+0.0925%	1h	182.94	long leg	$1.3M	$488K	10x