Funding arb · Price arb /

CRDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0017%/8h= +1.8% APRpaid last 24h +0.003%

Price spread now: Bitget against QFEX+0.069%7-day average +0.097% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$540.537% of the position

Long on QFEX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.057%+$6 on $10k

Price spread, last 7 days−0.037%−$4 · spread now +0.069%, 7d avg +0.097%

Together, before fees+0.020%+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.028% cheaper against QFEX than usual: you would sell low and buy high (spread +0.069% now, against its 7-day average of +0.097%). If the spread goes back, that is −$3 on $10k: about 5.6 days of funding at the current rate (+$1 a day). At the pace of the last 3 days (+0.057% in total) that is about 42 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRDO-USD	188.99	−0.0017	get 0.0002% / 1h	17m 06s	$1.1M	$2.9M	10x
Short	Bitget CRDOUSDT	189.12	0	get 0.0000% / 8h	6h 17m	$1.7M	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against QFEX. 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 QFEXbpFee BitgetbpOrdersPrice spread, now +0.069%Rate

Funding earned: $3.54
Price spread: +0.069% → +0.097%: −$2.83
Slippage, 4 orders: −$31.69
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$52.98
Costs to cover: 0.537%
Break-even: 111.6 days

Slippage from QFEX: live order book, 6 min ago; Bitget: 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 QFEX live order book, 6 min ago	1.32 bp	7.3 bp −$7	15.7 bp −$157	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	6.09 bp	19.6 bp −$20	41.0 bp −$410	173.1 bp −$17.3K	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-USDlong	−0.0017%	1h	188.99	long leg	$1.1M	$2.9M	10x
Aster CRDOUSDT	0.0000%	8h	189.14	+0.078%	$38K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	189.01	+0.009%	$4.2M	$8.2M	20x	as long as short
Bybit CRDOUSDT	0.0000%	8h	189.14	+0.079%	$715K	$745K	25x	as long as short
OKX CRDO-USDT-SWAP	0.0000%	8h	189.06	+0.037%	$910K	$1.4M	20x	as long as short
Gate CRDO_USDT	0.0000%	8h	189.09	+0.053%	$657K	$120K	20x	as long as short
Bitget CRDOUSDTshort	0.0000%	8h	189.12	+0.069%	$1.7M	$1.6M	20x
Variational Omni CRDO	0.0000%	8h	188.79	−0.106%	$221K	$59K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	188.82	−0.090%	$221	$114K	10x	as long as short
SunX CRDO-USDT	0.0000%	8h	189.03	+0.021%	$913	$548K	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	188.75	−0.127%	$8K	$39K	20x	as long as short
Extended CRDO_24_5-USD	+0.0040%	1h	189.16	+0.087%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	189.17	+0.095%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	188.89	−0.053%	$195K	$899K	20x	as long as short
Paragon para:CRDO	+0.1756%	1h	189.53	+0.284%	$1.3M	$460K	10x	as long as short