Funding arb · Price arb /

CRWV

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0186%/8h= −20.4% APRpaid last 24h +0.034%

Price spread now: Gate against Phoenix+0.082%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 Gate

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. Gate is 0.082% dearer against Phoenix than usual: you sell high and buy low (spread +0.082% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 35 hours.

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	37m 08s	$1K	$46K	10x
Short	Gate CRWV_USDT	85.950	0	get 0.0000% / 8h	4h 37m	$5.5M	$3.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.082%Rate

Funding earned: −$39.04
Price spread: +0.082% → 0.000%: $8.15
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$52.89
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Gate: 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 Gate live order book, 1 min ago	4.07 bp	13.1 bp −$13	38.6 bp −$386	79.1 bp −$7,913	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	86.039	+0.185%	$37K	$35K	20x	as long as short
OKX CRWV-USDT-SWAP	0.0000%	8h	85.910	+0.035%	$2.5M	$4.8M	25x	as long as short
Gate CRWV_USDTshort	0.0000%	8h	85.950	+0.082%	$5.5M	$3.8M	50x
Bitget CRWVUSDT	0.0000%	8h	85.930	+0.058%	$1.9M	$2.1M	20x	as long as short
Variational Omni CRWV	0.0000%	8h	85.899	+0.022%	$313K	$299K	—	as long as short
GRVT CRWV_USDT_Perp	0.0000%	8h	85.900	+0.023%	$2K	$193K	10x	as long as short
SunX CRWV-USDT	0.0000%	8h	85.850	−0.035%	$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	85.890	+0.012%	$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	+0.0016%	8h	85.915	+0.040%	$9.5M	$17.1M	25x	as long as short
Extended CRWV-USD	+0.0016%	1h	85.902	+0.025%	$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	$347K	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	85.861	−0.022%	$9.5M	$7.9M	10x	as long as short
Polymarket Perps CRWV-USD	+0.0050%	1h	85.902	+0.026%	$85K	$289K	10x	as long as short
Ondo Perps CRWV-USD.P	+0.0050%	1h	85.780	−0.116%	$322K	$145K	10x	as long as short
KuCoin CRWVUSDTM	+0.0100%	8h	85.930	+0.058%	$364K	$519K	20x	as long as short
Bybit CRWVUSDT	+0.0151%	8h	85.960	+0.093%	$2.2M	$1.1M	25x	as long as short
Phoenix CRWVlong	+0.0186%	1h	85.880	long leg	$1K	$46K	10x
edgeX CRWVUSDC	+0.0644%	4h	85.904	+0.027%	$88K	$202K	10x	as long as short