Funding you earn now, next payment 09:00 UTC+0.0067%/8h= +7.3% APRnext payment +$0.08 per $10,000 · paid last 24h +0.076%
Price spread now: Backpack against Injective−2.450%7-day average +0.114% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.128%+$13 on $10k
+Price spread, last 4 days (all we have)+2.763%+$276 · spread now −2.450%, 7d avg +0.114%
=Funding pays, the price is against you. Backpack is 2.564% cheaper against Injective than usual: you would sell low and buy high (spread −2.450% now, against its 7-day average of +0.114%). If the spread goes back, that is −$256 on $10k: about 4 months of funding at the current rate (+$2 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective CRV/USDC PERP | 0.3670 | 0.0033 | pay 0.0004% / 1h | 54m 54s | $79 | $384K | 12x |
| Short | Backpack CRV_USDC_PERP | 0.3580 | 0.0100 | get 0.0013% / 1h | 54m 54s | $93K | $256K | 10x |
Injective CRV/USDC PERP
Backpack CRV_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Injective. 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
- $14
- Price spread: −2.450% → +0.114%
- −$256.38
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$252.4
- Costs to cover
- 0.100%
- Break-even
- 133.2 days
Slippage unknown: Injective: no order-book sample; Backpack: live order book, 43 min ago. 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 Injective no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 43 min ago | 0.98 bp | 8.0 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Reya CRVRUSDPERP | −0.0048% | 1h | 0.3570 | −2.713% | $15 | — | 15x | as long as short |
| Deribit CRV_USDC-PERPETUAL | −0.0030% | 1h | 0.3572 | −2.670% | $53K | $46K | 25x | as long as short |
| Bybit CRVUSDT | −0.0006% | 8h | 0.3581 | −2.425% | $27.0M | $19.7M | 75x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3575 | −2.597% | $37K | $8K | 10x | as long as short |
| Phoenix CRV | 0.0000% | 1h | 0.3572 | −2.676% | $25K | $190K | 10x | as long as short |
| Variational Omni CRV | +0.0004% | 8h | 0.3575 | −2.591% | $1.1M | $94K | — | as long as short |
| Injective CRV/USDC PERPlong | +0.0033% | 1h | 0.3670 | long leg | $79 | $384K | 12x | |
| Lighter CRV | +0.0096% | 1h | 0.3575 | −2.591% | $376K | $680K | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3585 | −2.324% | $115K | $193K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3571 | −2.691% | $360K | $200K | 10x | as long as short |
Reya CRVRUSDPERP
Deribit CRV_USDC-PERPETUAL
Bybit CRVUSDT
dYdX CRV-USD
Phoenix CRV
Variational Omni CRV
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 | 0.3585 | −2.316% | $24.7M | $57.7M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3585 | −2.316% | $8.7M | $20.6M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3584 | −2.343% | $1.8M | $1.2M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3585 | −2.316% | $12.5M | $5.5M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3584 | −2.343% | $6.8M | $8.5M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3587 | −2.262% | $6.7M | $5.4M | 75x | as long as short |
| BingX CRV-USDT | +0.0100% | 8h | 0.3583 | −2.371% | — | $23.5M | — | as long as short |
| Backpack CRV_USDC_PERPshort | +0.0100% | 1h | 0.3580 | −2.450% | $93K | $256K | 10x | |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3584 | −2.344% | $37K | $174K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3569 | −2.760% | $497K | $407K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3567 | −2.807% | $52K | $670K | 50x | as long as short |
| Orderly PERP_CRV_USDC | +0.0100% | 8h | 0.3572 | −2.670% | $24K | $928 | 10x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3655 | −0.409% | $2K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3585 | −2.310% | $251K | $511K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3572 | −2.667% | $13K | $6K | 3x | as long as short |
| Hyperliquid CRV | +0.0120% | 1h | 0.3584 | −2.351% | $21.0M | $16.7M | 10x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3579 | −2.480% | $1.3M | $3.9M | 75x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0408% | 1h | 0.3576 | −2.561% | $357K | $4.3M | 50x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0414% / S −0.0177% | 1h | 0.3573 | −2.642% | $209K | — | 100x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0668% | 1h | 0.3577 | −2.525% | $3.0M | $2.8M | 50x | as long as short |
Binance CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDT
edgeX CRVUSDC
GRVT CRV_USDT_Perp
ApeX Omni CRVUSDT
Orderly PERP_CRV_USDC
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
Hyperliquid CRV
BloFin CRV-USDT
Coinbase International CRV-PERP-INTX
GMX CRV/USD [ETH-USDC]
Kraken Futures PF_CRVUSD