Funding arb · Price arb /

CRDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0013%/8h= +1.4% APRpaid last 24h −0.003%

Price spread now: QFEX against Bybit−0.055%7-day average −0.100% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$870.874% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.103%−$10 on $10k

Price spread, last 4 days (all we have)−0.112%−$11 · spread now −0.055%, 7d avg −0.100%

Together, before fees−0.215%−$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and QFEX is 0.045% dearer against Bybit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.100%. Mind the row above: over the last 4 days funding on this pair cost −0.103%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CRDOUSDT	181.09	0	get 0.0000% / 8h	1h 42m	$699K	$776K	25x
Short	QFEX CRDO-USD	180.99	0.0013	get 0.0002% / 1h	42m 27s	$1.1M	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Bybit. 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 BybitbpFee QFEXbpOrdersPrice spread, now −0.055%Rate

Funding earned: $2.72
Price spread: −0.055% → −0.100%: $4.46
Slippage, 4 orders: −$66.42
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$80.24
Costs to cover: 0.874%
Break-even: 213.4 days

Slippage from Bybit: live order book, 62 min ago; QFEX: live order book, 5 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 Bybit live order book, 62 min ago	6.53 bp	18.4 bp −$18	181.8 bp −$1,818	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	2.21 bp	10.5 bp −$11	doesn't fit	doesn't fit	doesn't fit

CRDO on 15 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
Bitget CRDOUSDT	−0.1929%	8h	181.34	+0.138%	$1.7M	$1.8M	20x	as long as short
Aster CRDOUSDT	0.0000%	8h	181.22	+0.073%	$36K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	180.95	−0.077%	$3.9M	$9.4M	20x	as long as short
Bybit CRDOUSDTlong	0.0000%	8h	181.09	long leg	$699K	$776K	25x
OKX CRDO-USDT-SWAP	0.0000%	8h	181.03	−0.033%	$913K	$1.6M	20x	as long as short
Gate CRDO_USDT	0.0000%	8h	181.23	+0.077%	$622K	$139K	20x	as long as short
Variational Omni CRDO	0.0000%	8h	181.02	−0.037%	$196K	$133K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	181.03	−0.033%	$652	$133K	10x	as long as short
SunX CRDO-USDT	0.0000%	8h	181.04	−0.028%	$1K	$506K	10x	as long as short
HTX CRDO-USDT	0.0000%	8h	181.23	+0.077%	$8K	$41K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRDO-USDshort	+0.0013%	1h	180.99	−0.055%	$1.1M	$2.3M	10x
Extended CRDO_24_5-USD	+0.0040%	1h	181.06	−0.017%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	181.14	+0.028%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	181.14	+0.028%	$192K	$839K	20x	as long as short
Paragon para:CRDO	+0.0920%	1h	181.56	+0.258%	$1.2M	$488K	10x	as long as short