Funding arb · Price arb /

CRV

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0284%/8h= −31.1% APRpaid last 24h +0.064%

Price spread now: Binance against Coinbase International−0.138%7-day average −0.107% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$510.509% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 3 days (all we have)+0.065%+$7 · spread now −0.138%, 7d avg −0.107%

Together, before fees+0.035%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Binance is 0.031% cheaper against Coinbase International than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.107%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.030% in total (about -1.6% 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	Coinbase International CRV-PERP-INTX	0.3624	0.0384	pay 0.0048% / 1h	5m 45s	$386K	$4.8M	50x
Short	Binance CRVUSDT	0.3619	0.0100	get 0.0100% / 8h	2h 05m	$25.3M	$58.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now −0.138%Rate

Funding earned: −$59.64
Price spread: −0.138% → −0.107%: −$3.09
Slippage, 4 orders: −$30.91
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$113.64
Costs to cover: 0.509%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Binance: live order book, 7 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 Coinbase International live order book, 3 min ago	4.13 bp	14.4 bp −$14	21.2 bp −$212	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	1.38 bp	14.5 bp −$15	26.6 bp −$266	93.7 bp −$9,369	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
Deribit CRV_USDC-PERPETUAL	−0.0855%	1h	0.3617	−0.193%	$56K	$48K	25x	as long as short
Injective CRV/USDC PERP	−0.0103%	1h	0.3630	+0.166%	$78	$265K	12x	as long as short
Reya CRVRUSDPERP	−0.0049%	1h	0.3615	−0.253%	$15	—	15x	as long as short
dYdX CRV-USD	0.0000%	1h	0.3621	−0.085%	$37K	$4K	10x	as long as short
Phoenix CRV	0.0000%	1h	0.3627	+0.075%	$26K	$193K	10x	as long as short
Orderly PERP_CRV_USDC	+0.0095%	8h	0.3618	−0.166%	$24K	$701	10x	as long as short
Lighter CRV	+0.0096%	1h	0.3620	−0.113%	$411K	$704K	10x	as long as short
Aster CRVUSDT	+0.0100%	8h	0.3619	−0.138%	$129K	$186K	10x	as long as short
Pacifica CRV	+0.0100%	1h	0.3621	−0.083%	$369K	$177K	10x	as long as short
Binance CRVUSDTshort	+0.0100%	8h	0.3619	−0.138%	$25.3M	$58.2M	75x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CRVUSDT	+0.0100%	8h	0.3616	−0.221%	$27.5M	$17.3M	75x	as long as short
OKX CRV-USDT-SWAP	+0.0100%	8h	0.3618	−0.166%	$8.6M	$22.3M	50x	as long as short
Gate CRV_USDT	+0.0100%	8h	0.3619	−0.138%	$2.0M	$1.3M	50x	as long as short
MEXC CRV_USDT	+0.0100%	8h	0.3618	−0.166%	$14.4M	$5.7M	125x	as long as short
KuCoin CRVUSDTM	+0.0100%	8h	0.3621	−0.083%	$7.0M	$9.2M	50x	as long as short
Bitget CRVUSDT	+0.0100%	8h	0.3620	−0.110%	$6.8M	$5.8M	75x	as long as short
BingX CRV-USDC	+0.0100%	8h	0.3616	−0.221%	—	$1.7M	—	as long as short
Variational Omni CRV	+0.0100%	8h	0.3625	+0.040%	$1.1M	$154K	—	as long as short
edgeX CRVUSDC	+0.0100%	4h	0.3625	+0.020%	$37K	$172K	20x	as long as short
GRVT CRV_USDT_Perp	+0.0100%	8h	0.3629	+0.138%	$505K	$450K	10x	as long as short
ApeX Omni CRVUSDT	+0.0100%	1h	0.3626	+0.055%	$60K	$694K	50x	as long as short
SunX CRV-USDT	+0.0100%	8h	0.3665	+1.131%	$1K	$1.3M	20x	as long as short
Extended CRV-USD	+0.0104%	1h	0.3615	−0.261%	$241K	$886K	25x	as long as short
Aevo CRV-PERP	+0.0104%	1h	0.3617	−0.198%	$19K	$9K	3x	as long as short
Kraken Futures PF_CRVUSD	+0.0164%	1h	0.3621	−0.082%	$3.1M	$3.5M	50x	as long as short
BloFin CRV-USDT	+0.0220%	8h	0.3618	−0.166%	$1.4M	$4.7M	75x	as long as short
Hyperliquid CRV	+0.0250%	1h	0.3624	+0.003%	$22.2M	$17.1M	10x	as long as short
Backpack CRV_USDC_PERP	+0.0376%	1h	0.3619	−0.130%	$104K	$362K	10x	as long as short
Coinbase International CRV-PERP-INTXlong	+0.0384%	1h	0.3624	long leg	$386K	$4.8M	50x
GMX CRV/USD [ETH-USDC]	L +0.0400% / S −0.0160%	1h	0.3618	−0.153%	$215K	—	100x	as long as short