Funding arb · Price arb /

CRWD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0285%/8h= +31.2% APRpaid last 24h +0.050%

Price spread now: Paragon against Phemex−0.209%7-day average +0.091% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Paragon

What this pair did over the last

the charts below follow

Funding, last 7 days−0.213%−$21 on $10k

Price spread, last 4 days (all we have)+0.258%+$26 · spread now −0.209%, 7d avg +0.091%

Together, before fees+0.045%+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Paragon is 0.300% cheaper against Phemex than usual: you would sell low and buy high (spread −0.209% now, against its 7-day average of +0.091%). If the spread goes back, that is −$30 on $10k: about 3.5 days of funding at the current rate (+$9 a day). Mind the row above: over the last 7 days funding on this pair cost −0.213%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex CRWDUSDT	249.16	0	get 0.0000% / 8h	5h 23m	$1.5M	$191K	10x
Short	Paragon para:CRWD	248.64	0.0285	get 0.0036% / 1h	23m 03s	$84K	$108K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon 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 ParagonbpOrdersPrice spread, now −0.209%Rate

Funding earned: $59.88
Price spread: −0.209% → +0.091%: −$30.01
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Paragon: 5 bp × 2 orders: −$10
Net: $7.87
Costs to cover: 0.220%
Break-even: 6.1 days

Slippage unknown: Phemex: live order book, 5 min ago; Paragon: live order book, 12 min ago. Net counts fees only.

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	5.62 bp	54.0 bp −$54	doesn't fit	doesn't fit	doesn't fit
Sell Paragon live order book, 12 min ago	2.82 bp	20.6 bp −$21	125.3 bp −$1,253	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	−3.419%	$21K	$20K	12x	as long as short
Aster CRWDUSDT	0.0000%	8h	249.03	−0.052%	$4K	$37K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	249.18	+0.008%	$2.4M	$6.7M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	248.94	−0.088%	$1.1M	$529K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	249.01	−0.060%	$600K	$651K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	249.16	0.000%	$292K	$416K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	249.09	−0.027%	$67K	$60K	—	as long as short
GRVT CRWD_USDT_Perp	0.0000%	8h	249.26	+0.040%	$1K	$112K	10x	as long as short
SunX CRWD-USDT	0.0000%	8h	249.16	0.000%	$2K	$1.2M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	249.30	+0.056%	$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	249.16	long leg	$1.5M	$191K	10x
BloFin CRWD-USDT	+0.0005%	8h	249.16	0.000%	$73K	$24K	25x	as long as short
QFEX CRWD-USD	+0.0046%	1h	249.08	−0.032%	$1.2M	$2.8M	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	248.85	−0.122%	$99K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0050%	1h	248.88	−0.112%	$867K	$627K	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	249.08	−0.032%	$35K	$438K	20x	as long as short
Paragon para:CRWDshort	+0.0285%	1h	248.64	−0.209%	$84K	$108K	10x
Phoenix CRWD	+0.0289%	1h	249.06	−0.040%	$4	$106K	10x	as long as short