Funding arb · Price arb /

CRDO

RWAall CRDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1506%/8h= −164.9% APRpaid last 24h −0.179%

Price spread now: SunX against Paragon−0.534%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$239as in the Funding arb table

Net, price: spread back to 7d avg − costs−$233as in the Price arb table

costs, in and out, $10k−$1811.807% of the position

Long on Paragon Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.584%−$58 on $10k

Price spread, last 4 days (all we have)+0.475%+$47 · spread now −0.534%, 7d avg −0.012%

Together, before fees−0.109%−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$45 a day on $10k at the current rate, and SunX is 0.522% cheaper against Paragon than usual: you would sell low and buy high (−$52 if the spread goes back to its 7-day average of −0.012%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.584% in total (about -30.5% 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	189.66	0.1506	pay 0.0188% / 1h	9m 27s	$1.3M	$460K	10x
Short	SunX CRDO-USDT	188.65	0	get 0.0000% / 8h	4h 09m	$864	$514K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.534%Rate

Funding earned: −$316.21
Price spread: −0.534% → −0.012%: −$52.18
Slippage, 4 orders: −$162.73
Fee Paragon: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$549.12
Costs to cover: 1.807%
Break-even: never at this rate

Slippage from Paragon: live order book, 6 min ago; SunX: live order book, 12 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, 6 min ago	7.12 bp	33.8 bp −$34	56.6 bp −$566	doesn't fit	doesn't fit
Sell SunX live order book, 12 min ago	46.69 bp	65.6 bp −$66	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	−0.0026%	1h	189.40	−0.139%	$1.1M	$2.6M	10x	as long as short
Aster CRDOUSDT	0.0000%	8h	189.61	−0.026%	$38K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	189.46	−0.105%	$4.2M	$8.1M	20x	as long as short
Bybit CRDOUSDT	0.0000%	8h	189.47	−0.102%	$717K	$729K	25x	as long as short
OKX CRDO-USDT-SWAP	0.0000%	8h	189.49	−0.091%	$948K	$1.4M	20x	as long as short
Gate CRDO_USDT	0.0000%	8h	189.45	−0.112%	$658K	$120K	20x	as long as short
Bitget CRDOUSDT	0.0000%	8h	189.45	−0.112%	$1.7M	$1.6M	20x	as long as short
Variational Omni CRDO	0.0000%	8h	189.32	−0.178%	$222K	$59K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	189.45	−0.114%	$377	$114K	10x	as long as short
SunX CRDO-USDTshort	0.0000%	8h	188.65	−0.534%	$864	$514K	10x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX CRDO-USDT	0.0000%	8h	189.25	−0.218%	$8K	$40K	20x	as long as short
Extended CRDO_24_5-USD	+0.0040%	1h	189.52	−0.075%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	189.46	−0.107%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	189.33	−0.176%	$197K	$876K	20x	as long as short
Paragon para:CRDOlong	+0.1506%	1h	189.66	long leg	$1.3M	$460K	10x