Funding arb · Price arb /

CRWD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Phemex+0.032%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$160as in the Funding arb table

Net, price: spread back to 7d avg − costs−$156as in the Price arb table

costs, in and out, $10k−$1601.598% of the position

Long on Phemex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.017%+$2 · spread now +0.032%, 7d avg −0.006%

Together, before fees+0.017%+$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.038% dearer against Phemex than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex CRWDUSDT	250.78	0	get 0.0000% / 8h	1h 37m	$1.5M	$210K	10x
Short	Bitget CRWDUSDT	250.86	0	get 0.0000% / 8h	1h 37m	$314K	$436K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Phemex. 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 PhemexbpFee BitgetbpOrdersPrice spread, now +0.032%Rate

Funding earned: $0
Price spread: +0.032% → −0.006%: $3.82
Slippage, 4 orders: −$135.76
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$155.94
Costs to cover: 1.598%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Bitget: 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 Phemex live order book, 5 min ago	3.39 bp	53.0 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	18.14 bp	36.2 bp −$36	71.7 bp −$717	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	244.15	−2.644%	$21K	$20K	12x	as long as short
BloFin CRWD-USDT	−0.0001%	8h	250.58	−0.080%	$72K	$24K	25x	as long as short
Aster CRWDUSDT	0.0000%	8h	250.51	−0.109%	$4K	$37K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	250.65	−0.051%	$2.5M	$7.1M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	250.44	−0.136%	$1.1M	$555K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	250.44	−0.136%	$592K	$701K	25x	as long as short
Bitget CRWDUSDTshort	0.0000%	8h	250.86	+0.032%	$314K	$436K	20x
Variational Omni CRWD	0.0000%	8h	250.63	−0.059%	$67K	$60K	—	as long as short
SunX CRWD-USDT	0.0000%	8h	250.80	+0.008%	$2K	$1.1M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	250.80	+0.008%	$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 CRWDUSDTlong	0.0000%	8h	250.78	long leg	$1.5M	$210K	10x
GRVT CRWD_USDT_Perp	+0.0048%	8h	250.70	−0.032%	$817	$124K	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	250.45	−0.132%	$100K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0050%	1h	250.47	−0.124%	$892K	$676K	10x	as long as short
QFEX CRWD-USD	+0.0064%	1h	250.60	−0.072%	$1.2M	$2.6M	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	250.55	−0.092%	$34K	$267K	20x	as long as short
Phoenix CRWD	+0.0286%	1h	250.48	−0.120%	$4	$106K	10x	as long as short
Paragon para:CRWD	+0.0374%	1h	250.33	−0.178%	$84K	$108K	10x	as long as short