Funding arb · Price arb /

CRDO

RWAall CRDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1883%/8h= −206.2% APRpaid last 24h −0.148%

Price spread now: Gate against Paragon−0.220%7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$180as in the Funding arb table

Net, price: spread back to 7d avg − costs−$147as in the Price arb table

costs, in and out, $10k−$1231.234% of the position

Long on Paragon Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.569%−$57 on $10k

Price spread, last 4 days (all we have)+0.159%+$16 · spread now −0.220%, 7d avg +0.017%

Together, before fees−0.410%−$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$57 a day on $10k at the current rate, and Gate is 0.237% cheaper against Paragon than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of +0.017%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.569% in total (about -29.7% 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	Paragon para:CRDO	188.75	0.1883	pay 0.0235% / 1h	38m 37s	$1.3M	$470K	10x
Short	Gate CRDO_USDT	188.33	0	get 0.0000% / 8h	6h 38m	$655K	$120K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Paragon. 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 ParagonbpFee GatebpOrdersPrice spread, now −0.220%Rate

Funding earned: −$395.52
Price spread: −0.220% → +0.017%: −$23.68
Slippage, 4 orders: −$98.44
Fee Paragon: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$542.64
Costs to cover: 1.234%
Break-even: never at this rate

Slippage from Paragon: live order book, 7 min ago; Gate: live order book, 28 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 Paragon live order book, 7 min ago	4.47 bp	22.6 bp −$23	45.0 bp −$450	doesn't fit	doesn't fit
Sell Gate live order book, 28 min ago	6.82 bp	23.2 bp −$23	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
QFEX CRDO-USD	−0.0017%	1h	188.33	−0.220%	$1.1M	$3.0M	10x	as long as short
Aster CRDOUSDT	0.0000%	8h	188.36	−0.205%	$38K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	188.28	−0.247%	$4.2M	$8.2M	20x	as long as short
Bybit CRDOUSDT	0.0000%	8h	188.32	−0.225%	$711K	$811K	25x	as long as short
OKX CRDO-USDT-SWAP	0.0000%	8h	188.27	−0.252%	$908K	$1.4M	20x	as long as short
Gate CRDO_USDTshort	0.0000%	8h	188.33	−0.220%	$655K	$120K	20x
Bitget CRDOUSDT	0.0000%	8h	188.28	−0.247%	$1.7M	$1.6M	20x	as long as short
Variational Omni CRDO	0.0000%	8h	188.67	−0.042%	$221K	$59K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	188.69	−0.029%	$249	$131K	10x	as long as short
SunX CRDO-USDT	0.0000%	8h	188.35	−0.210%	$1K	$552K	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	188.58	−0.088%	$8K	$39K	20x	as long as short
Extended CRDO_24_5-USD	+0.0040%	1h	188.35	−0.210%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	188.28	−0.247%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	188.24	−0.268%	$196K	$898K	20x	as long as short
Paragon para:CRDOlong	+0.1883%	1h	188.75	long leg	$1.3M	$470K	10x