Funding arb · Price arb /

CRV

all CRV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0332%/8h= −36.4% APRpaid last 24h +0.011%

Price spread now: OKX against Coinbase International−0.278%7-day average −0.126% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$530.530% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.049%−$5 on $10k

Price spread, last 4 days (all we have)+0.212%+$21 · spread now −0.278%, 7d avg −0.126%

Together, before fees+0.163%+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and OKX is 0.152% cheaper against Coinbase International than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.126%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.049% in total (about -2.6% 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	0.3597	0.0432	pay 0.0054% / 1h	49m 11s	$357K	$4.1M	50x
Short	OKX CRV-USDT-SWAP	0.3587	0.0100	get 0.0100% / 8h	2h 49m	$8.7M	$19.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.278%Rate

Funding earned: −$69.72
Price spread: −0.278% → −0.126%: −$15.2
Slippage, 4 orders: −$33.05
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$137.97
Costs to cover: 0.530%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; OKX: 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 Coinbase International live order book, 5 min ago	5.57 bp	13.2 bp −$13	21.1 bp −$211	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	1.39 bp	15.6 bp −$16	47.4 bp −$474	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	0.3586	−0.308%	$15	—	15x	as long as short
Deribit CRV_USDC-PERPETUAL	−0.0029%	1h	0.3587	−0.278%	$54K	$46K	25x	as long as short
dYdX CRV-USD	0.0000%	1h	0.3588	−0.241%	$37K	$8K	10x	as long as short
Injective CRV/USDC PERP	+0.0033%	1h	0.3670	+2.029%	$79	$384K	12x	as long as short
Phoenix CRV	+0.0045%	1h	0.3599	+0.047%	$26K	$177K	10x	as long as short
Backpack CRV_USDC_PERP	+0.0068%	1h	0.3589	−0.228%	$94K	$259K	10x	as long as short
Lighter CRV	+0.0096%	1h	0.3585	−0.334%	$381K	$694K	10x	as long as short
Hyperliquid CRV	+0.0100%	1h	0.3588	−0.253%	$21.2M	$15.7M	10x	as long as short
Aster CRVUSDT	+0.0100%	8h	0.3589	−0.231%	$128K	$178K	10x	as long as short
Pacifica CRV	+0.0100%	1h	0.3587	−0.269%	$364K	$198K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CRVUSDT	+0.0100%	8h	0.3587	−0.283%	$24.8M	$55.5M	75x	as long as short
Bybit CRVUSDT	+0.0100%	8h	0.3585	−0.334%	$27.3M	$17.9M	75x	as long as short
OKX CRV-USDT-SWAPshort	+0.0100%	8h	0.3587	−0.278%	$8.7M	$19.6M	50x
Gate CRV_USDT	+0.0100%	8h	0.3589	−0.222%	$1.8M	$1.4M	50x	as long as short
MEXC CRV_USDT	+0.0100%	8h	0.3587	−0.278%	$12.9M	$5.6M	125x	as long as short
KuCoin CRVUSDTM	+0.0100%	8h	0.3587	−0.278%	$6.0M	$8.4M	50x	as long as short
Bitget CRVUSDT	+0.0100%	8h	0.3588	−0.250%	$6.7M	$5.2M	75x	as long as short
BingX CRV-USDT	+0.0100%	8h	0.3586	−0.306%	—	$23.5M	—	as long as short
Variational Omni CRV	+0.0100%	8h	0.3600	+0.080%	$1.1M	$94K	—	as long as short
edgeX CRVUSDC	+0.0100%	4h	0.3591	−0.173%	$37K	$173K	20x	as long as short
GRVT CRV_USDT_Perp	+0.0100%	8h	0.3603	+0.155%	$506K	$443K	10x	as long as short
ApeX Omni CRVUSDT	+0.0100%	1h	0.3599	+0.056%	$54K	$682K	50x	as long as short
Orderly PERP_CRV_USDC	+0.0100%	8h	0.3587	−0.278%	$24K	$902	10x	as long as short
SunX CRV-USDT	+0.0100%	8h	0.3643	+1.279%	$2K	$1.3M	20x	as long as short
Extended CRV-USD	+0.0104%	1h	0.3586	−0.319%	$254K	$497K	25x	as long as short
Aevo CRV-PERP	+0.0104%	1h	0.3587	−0.292%	$13K	$6K	3x	as long as short
BloFin CRV-USDT	+0.0220%	8h	0.3584	−0.361%	$1.4M	$3.9M	75x	as long as short
GMX CRV/USD [ETH-USDC]	L +0.0415% / S −0.0177%	1h	0.3586	−0.297%	$210K	—	100x	as long as short
Coinbase International CRV-PERP-INTXlong	+0.0432%	1h	0.3597	long leg	$357K	$4.1M	50x
Kraken Futures PF_CRVUSD	+0.0678%	1h	0.3589	−0.218%	$3.0M	$2.6M	50x	as long as short