Funding arb · Price arb /

CRDO

RWAall CRDO markets

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 Gate−0.153%7-day average −0.047% · 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−$150as in the Price arb table

costs, in and out, $10k−$1401.397% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.005%$0 on $10k

Price spread, last 4 days (all we have)+0.136%+$14 · spread now −0.153%, 7d avg −0.047%

Together, before fees+0.131%+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.106% cheaper against Gate than usual: you would sell low and buy high (spread −0.153% now, against its 7-day average of −0.047%). If the spread goes back, that is −$11 on $10k: about 27 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CRDO_USDT	182.83	0	get 0.0000% / 8h	1h 19m	$628K	$140K	20x
Short	QFEX CRDO-USD	182.55	0.0013	get 0.0002% / 1h	19m 02s	$1.1M	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GatebpFee QFEXbpOrdersPrice spread, now −0.153%Rate

Funding earned: $2.72
Price spread: −0.153% → −0.047%: −$10.6
Slippage, 4 orders: −$114.65
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$147.53
Costs to cover: 1.397%
Break-even: 386.5 days

Slippage from Gate: live order book, 22 min ago; QFEX: live order book, 3 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 Gate live order book, 22 min ago	9.10 bp	27.6 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 3 min ago	1.37 bp	9.7 bp −$10	16.2 bp −$162	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	−0.1838%	8h	182.80	−0.016%	$1.7M	$1.8M	20x	as long as short
Aster CRDOUSDT	0.0000%	8h	182.70	−0.072%	$37K	$10K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	182.58	−0.137%	$4.0M	$9.6M	20x	as long as short
Bybit CRDOUSDT	0.0000%	8h	182.82	−0.005%	$685K	$748K	25x	as long as short
OKX CRDO-USDT-SWAP	0.0000%	8h	182.65	−0.098%	$911K	$1.7M	20x	as long as short
Gate CRDO_USDTlong	0.0000%	8h	182.83	long leg	$628K	$140K	20x
Variational Omni CRDO	0.0000%	8h	182.79	−0.020%	$198K	$133K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	182.23	−0.328%	$550	$134K	10x	as long as short
SunX CRDO-USDT	0.0000%	8h	182.67	−0.088%	$1K	$497K	10x	as long as short
HTX CRDO-USDT	0.0000%	8h	182.68	−0.082%	$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	182.55	−0.153%	$1.1M	$2.3M	10x
Extended CRDO_24_5-USD	+0.0040%	1h	182.72	−0.060%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	182.73	−0.055%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	182.65	−0.098%	$193K	$837K	20x	as long as short
Paragon para:CRDO	+0.1012%	1h	183.07	+0.131%	$1.3M	$489K	10x	as long as short