Funding you earn now, next payment 23:00 UTC−0.0641%/8h= −70.2% APRnext payment −$0.80 per $10,000 · paid last 24h −0.082%
Price spread now: Injective against Backpack−0.131%72s7-day average −0.259% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.084%−$8 on $10k
+Price spread, last 3 days (all we have)−0.291%−$29 · spread now −0.131%, 7d avg −0.259%
=The price spread pays, funding is against you. Injective is 0.128% dearer against Backpack than usual: you sell high and buy low (spread −0.131% now, against its 7-day average of −0.259%): +$13 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 7 days (−0.084% in total) that is about 11 days. The two prices were read 72 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 -0.084% in total (about -4.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.80 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 | 0.3675 | 0.0413 | pay 0.0052% / 1h | 32m 11s | $107K | $362K | 10x |
| Short | Injective CRV/USDC PERP | 0.3670 | −0.0228 | pay 0.0029% / 1h | 32m 11s | $79 | $384K | 12x |
Backpack CRV_USDC_PERP
Injective CRV/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$134.67
- Price spread: −0.131% → −0.259%
- $12.83
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$131.86
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Backpack: live order book, 51 min ago; Injective: no order-book sample. 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 Backpack live order book, 51 min ago | 0.14 bp | 7.2 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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.
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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit CRV_USDC-PERPETUAL | −0.0295% | 1h | 0.3670 | −0.131% | $57K | $48K | 25x | as long as short |
| Injective CRV/USDC PERPshort | −0.0228% | 1h | 0.3670 | −0.131% | $79 | $384K | 12x | |
| Phoenix CRV | −0.0176% | 1h | 0.3676 | +0.027% | $26K | $181K | 10x | as long as short |
| Reya CRVRUSDPERP | −0.0049% | 1h | 0.3666 | −0.226% | $16 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3674 | −0.035% | $38K | $4K | 10x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0027% | 1h | 0.3676 | +0.028% | $3.1M | $3.1M | 50x | as long as short |
| Orderly PERP_CRV_USDC | +0.0095% | 8h | 0.3670 | −0.131% | $24K | $930 | 10x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3672 | −0.084% | $415K | $703K | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3673 | −0.041% | $131K | $186K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3671 | −0.106% | $379K | $189K | 10x | as long as short |
Deribit CRV_USDC-PERPETUAL
Phoenix CRV
Reya CRVRUSDPERP
dYdX CRV-USD
Kraken Futures PF_CRVUSD
Orderly PERP_CRV_USDC
Lighter CRV
Aster CRVUSDT
Pacifica CRVShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CRVUSDT | +0.0100% | 8h | 0.3671 | −0.103% | $25.8M | $57.0M | 75x | as long as short |
| Bybit CRVUSDT | +0.0100% | 8h | 0.3671 | −0.103% | $27.9M | $17.1M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3666 | −0.239% | $8.7M | $22.2M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3669 | −0.158% | $2.0M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3669 | −0.158% | $14.7M | $5.5M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3672 | −0.076% | $7.2M | $9.1M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3669 | −0.158% | $6.9M | $5.6M | 75x | as long as short |
| BingX CRV-USDT | +0.0100% | 8h | 0.3667 | −0.212% | — | $21.6M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3676 | +0.035% | $1.1M | $138K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3677 | +0.069% | $38K | $172K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3684 | +0.257% | $513K | $437K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3679 | +0.114% | $61K | $694K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3697 | +0.604% | $2K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3669 | −0.161% | $243K | $883K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3668 | −0.189% | $19K | $9K | 3x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3679 | +0.114% | $1.4M | $4.5M | 75x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0376% | 1h | 0.3687 | +0.332% | $388K | $4.8M | 50x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0403% / S −0.0160% | 1h | 0.3671 | −0.094% | $218K | — | 100x | as long as short |
| Hyperliquid CRV | +0.0406% | 1h | 0.3673 | −0.046% | $22.8M | $16.7M | 10x | as long as short |
| Backpack CRV_USDC_PERPlong | +0.0413% | 1h | 0.3675 | long leg | $107K | $362K | 10x |
Binance CRVUSDT
Bybit CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDT
Variational Omni CRV
edgeX CRVUSDC
GRVT CRV_USDT_Perp
ApeX Omni CRVUSDT
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
BloFin CRV-USDT
Coinbase International CRV-PERP-INTX
GMX CRV/USD [ETH-USDC]
Hyperliquid CRV