Funding arb · Price arb /

CRWV

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0040%/8h= −4.3% APRpaid last 24h +0.042%

Price spread now: Bybit against Phoenix+0.093%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Bybit is 0.093% dearer against Phoenix than usual: you sell high and buy low (spread +0.093% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix CRWV	85.880	0.0186	pay 0.0023% / 1h	35m 22s	$1K	$46K	10x
Short	Bybit CRWVUSDT	85.960	0.0146	get 0.0146% / 8h	4h 35m	$2.2M	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Phoenix. 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 PhoenixbpFee BybitbpOrdersPrice spread, now +0.093%Rate

Funding earned: −$8.33
Price spread: +0.093% → 0.000%: $9.32
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$17.02
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Bybit: live order book, 1 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 Phoenix no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	4.07 bp	16.9 bp −$17	66.7 bp −$667	doesn't fit	doesn't fit

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CRWV on 23 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
Aster CRWVUSDT	0.0000%	8h	86.035	+0.180%	$37K	$35K	20x	as long as short
OKX CRWV-USDT-SWAP	0.0000%	8h	85.900	+0.023%	$2.5M	$4.8M	25x	as long as short
Gate CRWV_USDT	0.0000%	8h	85.930	+0.058%	$5.5M	$3.8M	50x	as long as short
Bitget CRWVUSDT	0.0000%	8h	85.930	+0.058%	$1.9M	$2.1M	20x	as long as short
Variational Omni CRWV	0.0000%	8h	85.910	+0.035%	$313K	$299K	—	as long as short
GRVT CRWV_USDT_Perp	0.0000%	8h	85.907	+0.031%	$2K	$193K	10x	as long as short
SunX CRWV-USDT	0.0000%	8h	85.830	−0.058%	$1K	$4.6M	10x	as long as short
HTX CRWV-USDT	0.0000%	8h	85.950	+0.082%	$140K	$2K	20x	as long as short
BloFin CRWV-USDT	+0.0004%	8h	85.930	+0.058%	$164K	$67K	20x	as long as short
QFEX CRWV-USD	+0.0010%	1h	85.900	+0.023%	$1.3M	$2.7M	10x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CRWVUSDT	+0.0014%	8h	85.920	+0.047%	$9.5M	$17.1M	25x	as long as short
Extended CRWV-USD	+0.0016%	1h	85.899	+0.022%	$14K	$306K	10x	as long as short
Lighter CRWV	+0.0032%	1h	85.950	+0.082%	$103K	$32K	10x	as long as short
Lighter RH CRWV	+0.0032%	1h	85.900	+0.023%	$418K	$348K	10x	as long as short
Arcus CRWV-USD	+0.0040%	1h	85.870	−0.012%	$64K	$79K	10x	as long as short
Vest CRWV-USD-PERP	+0.0046%	1h	85.970	+0.105%	—	$156K	10x	as long as short
tradeXYZ xyz:CRWV	+0.0050%	1h	85.853	−0.031%	$9.5M	$8.0M	10x	as long as short
Polymarket Perps CRWV-USD	+0.0050%	1h	85.892	+0.014%	$85K	$289K	10x	as long as short
Ondo Perps CRWV-USD.P	+0.0050%	1h	85.880	0.000%	$322K	$145K	10x	as long as short
KuCoin CRWVUSDTM	+0.0100%	8h	85.930	+0.058%	$364K	$520K	20x	as long as short
Bybit CRWVUSDTshort	+0.0146%	8h	85.960	+0.093%	$2.2M	$1.1M	25x
Phoenix CRWVlong	+0.0186%	1h	85.880	long leg	$1K	$46K	10x
edgeX CRWVUSDC	+0.0334%	4h	85.902	+0.026%	$88K	$203K	10x	as long as short