Funding arb · Price arb /

CRDO

RWAall CRDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0836%/8h= −91.6% APRpaid last 24h −0.225%

Price spread now: SunX against Paragon−0.107%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$247as in the Funding arb table

Net, price: spread back to 7d avg − costs−$195as in the Price arb table

costs, in and out, $10k−$1871.872% of the position

Long on Paragon Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.597%−$60 on $10k

Price spread, last 4 days (all we have)+0.068%+$7 · spread now −0.107%, 7d avg −0.033%

Together, before fees−0.530%−$53 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$25 a day on $10k at the current rate, and SunX is 0.075% cheaper against Paragon than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.033%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paragon para:CRDO	186.61	0.0836	pay 0.0105% / 1h	55m 19s	$1.3M	$508K	10x
Short	SunX CRDO-USDT	186.41	0	get 0.0000% / 8h	4h 55m	$1K	$374K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.107%Rate

Funding earned: −$175.66
Price spread: −0.107% → −0.033%: −$7.46
Slippage, 4 orders: −$169.22
Fee Paragon: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$370.34
Costs to cover: 1.872%
Break-even: never at this rate

Slippage from Paragon: live order book, 5 min ago; SunX: live order book, 39 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, 5 min ago	9.91 bp	17.5 bp −$18	50.6 bp −$506	doesn't fit	doesn't fit
Sell SunX live order book, 39 min ago	45.96 bp	64.8 bp −$65	doesn't fit	doesn't fit	doesn't fit

CRDO on 15 exchanges

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	−0.0043%	1h	186.37	−0.129%	$1.1M	$2.2M	10x	as long as short
Aster CRDOUSDT	0.0000%	8h	186.10	−0.271%	$37K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	185.94	−0.359%	$4.1M	$9.9M	20x	as long as short
Bybit CRDOUSDT	0.0000%	8h	186.19	−0.225%	$683K	$714K	25x	as long as short
OKX CRDO-USDT-SWAP	0.0000%	8h	186.08	−0.284%	$967K	$1.8M	20x	as long as short
Gate CRDO_USDT	0.0000%	8h	186.36	−0.134%	$645K	$140K	20x	as long as short
Bitget CRDOUSDT	0.0000%	8h	186.39	−0.118%	$1.8M	$1.9M	20x	as long as short
Variational Omni CRDO	0.0000%	8h	186.18	−0.230%	$203K	$131K	—	as long as short
SunX CRDO-USDTshort	0.0000%	8h	186.41	−0.107%	$1K	$374K	10x
HTX CRDO-USDT	0.0000%	8h	186.29	−0.172%	$8K	$41K	20x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CRDO_24_5-USD	+0.0040%	1h	186.21	−0.213%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	186.50	−0.059%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	186.41	−0.107%	$192K	$968K	20x	as long as short
GRVT CRDO_USDT_Perp	+0.0427%	8h	186.10	−0.274%	$344	$136K	10x	as long as short
Paragon para:CRDOlong	+0.0836%	1h	186.61	long leg	$1.3M	$508K	10x