Funding arb · Price arb /

CRWD

RWAall CRWD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0130%/8h= +14.2% APRpaid last 24h +0.009%

Price spread now: tradeXYZ against Phemex−0.092%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$168as in the Funding arb table

Net, price: spread back to 7d avg − costs−$149as in the Price arb table

costs, in and out, $10k−$1401.402% of the position

Long on Phemex Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.279%−$28 on $10k

Price spread, last 4 days (all we have)+0.050%+$5 · spread now −0.092%, 7d avg −0.006%

Together, before fees−0.229%+ Points / potential airdroptradeXYZ: Active · farm board−$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.086% cheaper against Phemex than usual: you would sell low and buy high (spread −0.092% now, against its 7-day average of −0.006%). If the spread goes back, that is −$9 on $10k: about 2.2 days of funding at the current rate (+$4 a day). Mind the row above: over the last 7 days funding on this pair cost −0.279%, 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	249.25	0	get 0.0000% / 8h	4h 59m	$1.5M	$191K	10x
Short	tradeXYZ xyz:CRWD	249.02	0.0130	get 0.0016% / 1h	59m 12s	$863K	$626K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.092%Rate

Funding earned: $27.3
Price spread: −0.092% → −0.006%: −$8.59
Slippage, 4 orders: −$110.23
Fee Phemex: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$121.53
Costs to cover: 1.402%
Break-even: 38.2 days

Slippage from Phemex: live order book, 4 min ago; tradeXYZ: live order book, 37 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, 4 min ago	3.21 bp	51.2 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 37 min ago	3.21 bp	20.5 bp −$21	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	245.61	−1.460%	$22K	$20K	12x	as long as short
BloFin CRWD-USDT	−0.0011%	8h	249.30	+0.020%	$72K	$24K	25x	as long as short
Aster CRWDUSDT	0.0000%	8h	249.07	−0.074%	$4K	$37K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	249.24	−0.005%	$2.4M	$6.7M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	248.95	−0.120%	$1.1M	$529K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	249.30	+0.020%	$601K	$652K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	249.17	−0.032%	$292K	$416K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	249.26	+0.003%	$67K	$60K	—	as long as short
GRVT CRWD_USDT_Perp	0.0000%	8h	249.22	−0.012%	$1K	$112K	10x	as long as short
SunX CRWD-USDT	0.0000%	8h	249.17	−0.032%	$2K	$1.2M	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX CRWD-USDT	0.0000%	8h	249.37	+0.048%	$6K	$7K	20x	as long as short
Phemex CRWDUSDTlong	0.0000%	8h	249.25	long leg	$1.5M	$191K	10x
QFEX CRWD-USD	+0.0046%	1h	249.20	−0.020%	$1.2M	$2.8M	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	248.88	−0.148%	$99K	—	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	249.20	−0.020%	$34K	$418K	20x	as long as short
tradeXYZ xyz:CRWDshort	+0.0130%	1h	249.02	−0.092%	$863K	$626K	10x
Phoenix CRWD	+0.0289%	1h	249.14	−0.044%	$7	$106K	10x	as long as short
Paragon para:CRWD	+0.0469%	1h	248.82	−0.173%	$84K	$108K	10x	as long as short