Funding arb · Price arb /

CRWD

RWAall CRWD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0046%/8h= +5.1% APRpaid last 24h +0.013%

Price spread now: QFEX against Bybit+0.040%7-day average +0.003% · 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−$227as in the Price arb table

costs, in and out, $10k−$2302.304% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.046%+$5 on $10k

Price spread, last 7 days−0.021%−$2 · spread now +0.040%, 7d avg +0.003%

Together, before fees+0.026%+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.037% dearer against Bybit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CRWDUSDT	248.86	0	get 0.0000% / 8h	5h 50m	$1.1M	$529K	25x
Short	QFEX CRWD-USD	248.96	0.0046	get 0.0006% / 1h	50m 21s	$1.2M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Bybit. 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 BybitbpFee QFEXbpOrdersPrice spread, now +0.040%Rate

Funding earned: $9.73
Price spread: +0.040% → +0.003%: $3.72
Slippage, 4 orders: −$209.37
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$216.92
Costs to cover: 2.304%
Break-even: 163.1 days

Slippage from Bybit: live order book, 5 min ago; QFEX: live order book, 2 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 Bybit live order book, 5 min ago	4.22 bp	121.4 bp −$121	209.2 bp −$2,092	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	2.21 bp	8.5 bp −$9	doesn't fit	doesn't fit	doesn't fit

CRWD on 17 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
Injective CRWD/USDC PERP	−0.0220%	1h	240.64	−3.303%	$21K	$20K	12x	as long as short
Aster CRWDUSDT	0.0000%	8h	249.01	+0.059%	$4K	$37K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	249.02	+0.064%	$2.4M	$6.7M	25x	as long as short
Bybit CRWDUSDTlong	0.0000%	8h	248.86	long leg	$1.1M	$529K	25x
OKX CRWD-USDT-SWAP	0.0000%	8h	249.14	+0.113%	$615K	$615K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	249.01	+0.060%	$292K	$416K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	249.01	+0.059%	$67K	$60K	—	as long as short
GRVT CRWD_USDT_Perp	0.0000%	8h	249.12	+0.104%	$678	$111K	10x	as long as short
SunX CRWD-USDT	0.0000%	8h	249.03	+0.068%	$2K	$1.2M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	249.21	+0.141%	$6K	$7K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRWDUSDT	0.0000%	8h	249.13	+0.108%	$1.5M	$191K	10x	as long as short
QFEX CRWD-USDshort	+0.0046%	1h	248.96	+0.040%	$1.2M	$2.8M	10x
Extended CRWD_24_5-USD	+0.0048%	1h	248.86	0.000%	$99K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0050%	1h	248.95	+0.036%	$867K	$627K	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	248.98	+0.048%	$34K	$454K	20x	as long as short
Phoenix CRWD	+0.0289%	1h	249.02	+0.064%	$2	$106K	10x	as long as short
Paragon para:CRWD	+0.0328%	1h	248.64	−0.087%	$84K	$108K	10x	as long as short