Funding arb · Price arb /

CRWD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h −0.033%

Price spread now: QFEX against KuCoin+0.020%7-day average −0.114% · 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−$552as in the Price arb table

costs, in and out, $10k−$5655.654% of the position

Long on KuCoin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.153%−$15 on $10k

Price spread, last 4 days (all we have)−0.105%−$10 · spread now +0.020%, 7d avg −0.114%

Together, before fees−0.258%−$26 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.134% dearer against KuCoin than usual: you sell high and buy low (spread +0.020% now, against its 7-day average of −0.114%): +$13 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 8.3 days. At the pace of the last 4 days (−0.153% in total) that is about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CRWDUSDTM	249.02	0.0100	pay 0.0100% / 8h	5h 21m	$34K	$438K	20x
Short	QFEX CRWD-USD	249.07	0.0046	get 0.0006% / 1h	21m 48s	$1.2M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against KuCoin. 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 KuCoinbpFee QFEXbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$11.27
Price spread: +0.020% → −0.114%: $13.41
Slippage, 4 orders: −$543.39
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$563.26
Costs to cover: 5.654%
Break-even: never at this rate

Slippage from KuCoin: live order book, 76 min ago; QFEX: live order book, 6 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 KuCoin live order book, 76 min ago	10.46 bp	313.4 bp −$313	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 6 min ago	27.27 bp	33.2 bp −$33	41.1 bp −$411	doesn't fit	doesn't fit

CRWD on 18 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	−3.365%	$21K	$20K	12x	as long as short
Aster CRWDUSDT	0.0000%	8h	249.05	+0.012%	$4K	$37K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	249.16	+0.055%	$2.4M	$6.7M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	248.86	−0.064%	$1.1M	$530K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	249.33	+0.124%	$601K	$652K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	249.16	+0.056%	$292K	$416K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	249.09	+0.030%	$67K	$60K	—	as long as short
GRVT CRWD_USDT_Perp	0.0000%	8h	249.26	+0.096%	$1K	$112K	10x	as long as short
SunX CRWD-USDT	0.0000%	8h	249.16	+0.056%	$2K	$1.2M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	249.30	+0.112%	$6K	$7K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRWDUSDT	0.0000%	8h	249.15	+0.052%	$1.5M	$191K	10x	as long as short
BloFin CRWD-USDT	+0.0005%	8h	249.16	+0.056%	$73K	$24K	25x	as long as short
QFEX CRWD-USDshort	+0.0046%	1h	249.07	+0.020%	$1.2M	$2.8M	10x
Extended CRWD_24_5-USD	+0.0048%	1h	248.88	−0.056%	$99K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0050%	1h	248.89	−0.052%	$867K	$627K	10x	as long as short
KuCoin CRWDUSDTMlong	+0.0100%	8h	249.02	long leg	$34K	$438K	20x
Paragon para:CRWD	+0.0284%	1h	248.71	−0.124%	$84K	$108K	10x	as long as short
Phoenix CRWD	+0.0289%	1h	249.06	+0.016%	$4	$106K	10x	as long as short