Funding you earn now, next payment 00:00 UTC−0.0521%/8h= −57.0% APRpaid last 24h −0.063%
Price spread now: MEXC against Backpack−0.392%7-day average −0.088% · you buy dearer than you sell
Net, funding: paid 7d − costs−$39as in the Funding arb table
Net, price: spread back to 7d avg − costs−$61as in the Price arb table
costs, in and out, $10k−$310.306% of the position
Funding, last 7 days−0.085%−$8 on $10k
+Price spread, last 4 days (all we have)+0.295%+$30 · spread now −0.392%, 7d avg −0.088%
=Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and MEXC is 0.305% cheaper against Backpack than usual: you would sell low and buy high (−$30 if the spread goes back to its 7-day average of −0.088%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.085% in total (about -4.4% a year). A funding rate is set anew for every payment. 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 | 0.3671 | 0.0621 | pay 0.0078% / 1h | 26m 15s | $107K | $305K | 10x |
| Short | MEXC CRV_USDT | 0.3657 | 0.0100 | get 0.0100% / 8h | 26m 15s | $14.4M | $5.2M | 125x |
Backpack CRV_USDC_PERP
MEXC CRV_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- −$109.31
- Price spread: −0.392% → −0.088%
- −$30.47
- Slippage, 4 orders
- −$16.6
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- −$170.37
- Costs to cover
- 0.306%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 52 min ago; MEXC: live order book, 2 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, 52 min ago | 0.14 bp | 7.0 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 2 min ago | 1.37 bp | 7.7 bp −$8 | 18.8 bp −$188 | 73.7 bp −$7,370 | 121.5 bp −$60.7K |
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 | −0.0571% | 1h | 0.3650 | −0.583% | $56K | $49K | 25x | as long as short |
| Injective CRV/USDC PERP | −0.0146% | 1h | 0.3670 | −0.038% | $79 | $384K | 12x | as long as short |
| Phoenix CRV | −0.0108% | 1h | 0.3665 | −0.177% | $26K | $176K | 10x | as long as short |
| Reya CRVRUSDPERP | −0.0049% | 1h | 0.3655 | −0.445% | $16 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3665 | −0.178% | $38K | $5K | 10x | as long as short |
| Orderly PERP_CRV_USDC | +0.0096% | 8h | 0.3652 | −0.528% | $24K | $929 | 10x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3663 | −0.234% | $415K | $736K | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3661 | −0.286% | $131K | $186K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3663 | −0.221% | $370K | $208K | 10x | as long as short |
| Binance CRVUSDT | +0.0100% | 8h | 0.3652 | −0.528% | $25.6M | $56.3M | 75x | as long as short |
Deribit CRV_USDC-PERPETUAL
Injective CRV/USDC PERP
Phoenix CRV
Reya CRVRUSDPERP
dYdX CRV-USD
Orderly PERP_CRV_USDC
Lighter CRV
Aster CRVUSDT
Pacifica CRV
Binance CRVUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit CRVUSDT | +0.0100% | 8h | 0.3651 | −0.556% | $27.7M | $17.3M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3650 | −0.583% | $8.8M | $21.5M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3657 | −0.392% | $1.9M | $1.3M | 50x | as long as short |
| MEXC CRV_USDTshort | +0.0100% | 8h | 0.3657 | −0.392% | $14.4M | $5.2M | 125x | |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3662 | −0.256% | $7.3M | $9.2M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3653 | −0.501% | $6.9M | $5.6M | 75x | as long as short |
| BingX CRV-USDT | +0.0100% | 8h | 0.3652 | −0.528% | — | $21.6M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3658 | −0.363% | $1.1M | $110K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3665 | −0.179% | $38K | $173K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3670 | −0.038% | $519K | $428K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3667 | −0.120% | $60K | $698K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3666 | −0.147% | $1K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3651 | −0.560% | $243K | $883K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3652 | −0.522% | $19K | $9K | 3x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0157% | 1h | 0.3655 | −0.437% | $3.1M | $2.9M | 50x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3658 | −0.365% | $1.4M | $4.4M | 75x | as long as short |
| Hyperliquid CRV | +0.0234% | 1h | 0.3662 | −0.256% | $22.8M | $16.5M | 10x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0384% | 1h | 0.3654 | −0.474% | $382K | $4.7M | 50x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0437% / S −0.0185% | 1h | 0.3653 | −0.502% | $229K | — | 100x | as long as short |
| Backpack CRV_USDC_PERPlong | +0.0621% | 1h | 0.3671 | long leg | $107K | $305K | 10x |
Bybit CRVUSDT
OKX CRV-USDT-SWAP
Gate 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
Kraken Futures PF_CRVUSD
BloFin CRV-USDT
Hyperliquid CRV
Coinbase International CRV-PERP-INTX
GMX CRV/USD [ETH-USDC]