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: OKX against Phemex−0.088%7-day average +0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$161as in the Funding arb table

Net, price: spread back to 7d avg − costs−$169as in the Price arb table

costs, in and out, $10k−$1571.566% of the position

Long on Phemex Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.041%−$4 on $10k

Price spread, last 4 days (all we have)+0.113%+$11 · spread now −0.088%, 7d avg +0.041%

Together, before fees+0.072%+$7 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: OKX is 0.128% cheaper against Phemex than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex CRWDUSDT	251.36	0	get 0.0000% / 8h	2h 07m	$1.5M	$213K	10x
Short	OKX CRWD-USDT-SWAP	251.14	0	get 0.0000% / 8h	2h 07m	$601K	$696K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.088%Rate

Funding earned: $0
Price spread: −0.088% → +0.041%: −$12.84
Slippage, 4 orders: −$134.59
Fee Phemex: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$169.42
Costs to cover: 1.566%
Break-even: never at this rate

Slippage from Phemex: live order book, 1 min ago; OKX: live order book, 39 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, 1 min ago	3.58 bp	50.8 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 39 min ago	6.60 bp	35.3 bp −$35	doesn't fit	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	246.46	−1.949%	$22K	$20K	12x	as long as short
Aster CRWDUSDT	0.0000%	8h	251.24	−0.046%	$4K	$37K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	251.33	−0.014%	$2.5M	$7.1M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	251.17	−0.076%	$1.2M	$550K	25x	as long as short
OKX CRWD-USDT-SWAPshort	0.0000%	8h	251.14	−0.088%	$601K	$696K	25x
Bitget CRWDUSDT	0.0000%	8h	251.13	−0.092%	$294K	$416K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	251.65	+0.116%	$68K	$60K	—	as long as short
GRVT CRWD_USDT_Perp	0.0000%	8h	251.67	+0.124%	$1K	$123K	10x	as long as short
SunX CRWD-USDT	0.0000%	8h	251.39	+0.012%	$2K	$1.2M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	251.47	+0.044%	$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	251.36	long leg	$1.5M	$213K	10x
BloFin CRWD-USDT	+0.0006%	8h	251.40	+0.016%	$72K	$24K	25x	as long as short
QFEX CRWD-USD	+0.0044%	1h	251.32	−0.016%	$1.2M	$2.6M	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	250.94	−0.167%	$100K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0065%	1h	251.03	−0.131%	$893K	$676K	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	251.18	−0.072%	$34K	$286K	20x	as long as short
Paragon para:CRWD	+0.0135%	1h	251.00	−0.142%	$85K	$108K	10x	as long as short
Phoenix CRWD	+0.0160%	1h	251.36	0.000%	$8	$106K	10x	as long as short