Funding arb · Price arb /

CRDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.012%

Price spread now: Bybit against Extended−0.090%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.090% cheaper against Extended than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended CRDO_24_5-USD	189.31	0.0040	pay 0.0005% / 1h	29m 06s	$1K	—	5x
Short	Bybit CRDOUSDT	189.14	0	get 0.0000% / 8h	5h 29m	$715K	$740K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now −0.090%Rate

Funding earned: −$8.4
Price spread: −0.090% → 0.000%: −$8.98
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$33.38
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Extended: no order-book sample; Bybit: live order book, 31 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 Extended no order-book sample	—	—	—	—	—
Sell Bybit live order book, 31 min ago	5.29 bp	16.7 bp −$17	182.0 bp −$1,820	doesn't fit	doesn't fit

Extended: 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.

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
QFEX CRDO-USD	−0.0024%	1h	189.10	−0.111%	$1.1M	$2.8M	10x	as long as short
Aster CRDOUSDT	0.0000%	8h	189.13	−0.095%	$38K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	189.07	−0.128%	$4.2M	$8.1M	20x	as long as short
Bybit CRDOUSDTshort	0.0000%	8h	189.14	−0.090%	$715K	$740K	25x
OKX CRDO-USDT-SWAP	0.0000%	8h	189.00	−0.164%	$920K	$1.4M	20x	as long as short
Gate CRDO_USDT	0.0000%	8h	189.23	−0.042%	$658K	$120K	20x	as long as short
Bitget CRDOUSDT	0.0000%	8h	189.21	−0.053%	$1.7M	$1.6M	20x	as long as short
Variational Omni CRDO	0.0000%	8h	189.23	−0.044%	$222K	$59K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	189.24	−0.039%	$225	$115K	10x	as long as short
SunX CRDO-USDT	0.0000%	8h	189.25	−0.032%	$1K	$517K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX CRDO-USDT	0.0000%	8h	189.22	−0.048%	$8K	$39K	20x	as long as short
Extended CRDO_24_5-USDlong	+0.0040%	1h	189.31	long leg	$1K	—	5x
Vest CRDO-USD-PERP	+0.0046%	1h	189.19	−0.063%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	189.10	−0.111%	$196K	$895K	20x	as long as short
Paragon para:CRDO	+0.1578%	1h	189.61	+0.158%	$1.3M	$450K	10x	as long as short