CRV

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0474%/8h= +51.9% APRnext payment +$0.59 per $10,000 · paid last 24h −0.068%

Price spread now: Coinbase International against Backpack+0.067%52s7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.461% of the position

Long on Backpack Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.066%−$7 on $10k

Price spread, last 4 days (all we have)−0.130%−$13 · spread now +0.067%, 7d avg +0.031%

Together, before fees−0.196%−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Coinbase International is 0.036% dearer against Backpack than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.031%. Mind the row above: over the last 7 days funding on this pair cost −0.066%, so the current rate has only just turned in your favour. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.066% in total (about -3.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.59 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack CRV_USDC_PERP	0.3581	−0.0042	get 0.0005% / 1h	15m 11s	$94K	$261K	10x
Short	Coinbase International CRV-PERP-INTX	0.3583	0.0432	get 0.0054% / 1h	15m 11s	$380K	$4.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Backpack. 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 BackpackbpFee Coinbase InternationalbpOrdersPrice spread, now +0.067%Rate

Funding earned: $99.51
Price spread: +0.067% → +0.031%: $3.63
Slippage, 4 orders: −$26.07
Fee Backpack: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $57.07
Costs to cover: 0.461%
Break-even: 3.0 days

Slippage from Backpack: live order book, 33 min ago; Coinbase International: live order book, 4 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 Backpack live order book, 33 min ago	1.25 bp	8.7 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	6.97 bp	12.0 bp −$12	18.5 bp −$185	doesn't fit	doesn't fit

CRV on 30 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
Reya CRVRUSDPERP	−0.0048%	1h	0.3578	−0.074%	$15	—	15x	as long as short
Backpack CRV_USDC_PERPlong	−0.0042%	1h	0.3581	long leg	$94K	$261K	10x
dYdX CRV-USD	0.0000%	1h	0.3580	−0.006%	$37K	$8K	10x	as long as short
Deribit CRV_USDC-PERPETUAL	0.0000%	1h	0.3580	−0.017%	$54K	$45K	25x	as long as short
Injective CRV/USDC PERP	+0.0033%	1h	0.3670	+2.497%	$79	$384K	12x	as long as short
Phoenix CRV	+0.0045%	1h	0.3574	−0.179%	$25K	$177K	10x	as long as short
Variational Omni CRV	+0.0075%	8h	0.3576	−0.131%	$1.1M	$95K	—	as long as short
Lighter CRV	+0.0096%	1h	0.3580	−0.014%	$380K	$705K	10x	as long as short
Orderly PERP_CRV_USDC	+0.0100%	8h	0.3580	−0.017%	$24K	$902	10x	as long as short
Hyperliquid CRV	+0.0100%	1h	0.3582	+0.034%	$21.0M	$16.4M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster CRVUSDT	+0.0100%	8h	0.3581	+0.022%	$112K	$193K	10x	as long as short
Pacifica CRV	+0.0100%	1h	0.3580	−0.025%	$363K	$198K	10x	as long as short
Binance CRVUSDT	+0.0100%	8h	0.3581	+0.011%	$24.7M	$56.8M	75x	as long as short
Bybit CRVUSDT	+0.0100%	8h	0.3579	−0.045%	$27.1M	$19.3M	75x	as long as short
OKX CRV-USDT-SWAP	+0.0100%	8h	0.3582	+0.039%	$8.7M	$20.4M	50x	as long as short
Gate CRV_USDT	+0.0100%	8h	0.3580	−0.017%	$1.8M	$1.4M	50x	as long as short
MEXC CRV_USDT	+0.0100%	8h	0.3580	−0.017%	$12.7M	$5.7M	125x	as long as short
KuCoin CRVUSDTM	+0.0100%	8h	0.3581	+0.011%	$5.9M	$8.3M	50x	as long as short
Bitget CRVUSDT	+0.0100%	8h	0.3582	+0.039%	$6.7M	$5.3M	75x	as long as short
BingX CRV-USDT	+0.0100%	8h	0.3579	−0.045%	—	$23.5M	—	as long as short
edgeX CRVUSDC	+0.0100%	4h	0.3587	+0.174%	$37K	$174K	20x	as long as short
GRVT CRV_USDT_Perp	+0.0100%	8h	0.3590	+0.263%	$508K	$445K	10x	as long as short
ApeX Omni CRVUSDT	+0.0100%	1h	0.3586	+0.151%	$53K	$682K	50x	as long as short
SunX CRV-USDT	+0.0100%	8h	0.3664	+2.329%	$2K	$1.3M	20x	as long as short
Extended CRV-USD	+0.0104%	1h	0.3579	−0.057%	$253K	$494K	25x	as long as short
Aevo CRV-PERP	+0.0104%	1h	0.3581	+0.014%	$13K	$6K	3x	as long as short
BloFin CRV-USDT	+0.0220%	8h	0.3579	−0.045%	$1.3M	$3.9M	75x	as long as short
GMX CRV/USD [ETH-USDC]	L +0.0414% / S −0.0177%	1h	0.3580	−0.016%	$209K	—	100x	as long as short
Coinbase International CRV-PERP-INTXshort	+0.0432%	1h	0.3583	+0.067%	$380K	$4.3M	50x
Kraken Futures PF_CRVUSD	+0.0679%	1h	0.3585	+0.110%	$3.0M	$2.7M	50x	as long as short