Funding arb · Price arb /

CRDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0009%/8h= +1.0% APRpaid last 24h +0.003%

Price spread now: SunX against QFEX−0.304%7-day average +0.013% · 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−$184as in the Price arb table

costs, in and out, $10k−$1531.527% of the position

Long on QFEX Short on SunX

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)+0.271%+$27 · spread now −0.304%, 7d avg +0.013%

Together, before fees+0.276%+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.316% cheaper against QFEX than usual: you would sell low and buy high (spread −0.304% now, against its 7-day average of +0.013%). If the spread goes back, that is −$32 on $10k: about 4 months of funding at the current rate ($0 a day). At the pace of the last 4 days (+0.005% in total) that is about 8 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRDO-USD	184.51	−0.0009	get 0.0001% / 1h	13m 59s	$1.1M	$2.5M	10x
Short	SunX CRDO-USDT	183.95	0	get 0.0000% / 8h	3h 13m	$988	$512K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against QFEX. 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 QFEXbpFee SunXbpOrdersPrice spread, now −0.304%Rate

Funding earned: $1.95
Price spread: −0.304% → +0.013%: −$31.65
Slippage, 4 orders: −$134.74
Fee QFEX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$182.43
Costs to cover: 1.527%
Break-even: 662.3 days

Slippage from QFEX: live order book, 3 min ago; SunX: live order book, 67 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 QFEX live order book, 3 min ago	1.89 bp	10.7 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 67 min ago	46.69 bp	65.6 bp −$66	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	−0.0512%	8h	184.47	−0.022%	$1.7M	$1.4M	20x	as long as short
QFEX CRDO-USDlong	−0.0009%	1h	184.51	long leg	$1.1M	$2.5M	10x
Aster CRDOUSDT	0.0000%	8h	184.60	+0.051%	$37K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	184.48	−0.017%	$4.1M	$8.5M	20x	as long as short
Bybit CRDOUSDT	0.0000%	8h	184.43	−0.043%	$702K	$739K	25x	as long as short
OKX CRDO-USDT-SWAP	0.0000%	8h	184.66	+0.081%	$941K	$1.4M	20x	as long as short
Gate CRDO_USDT	0.0000%	8h	184.63	+0.065%	$648K	$122K	20x	as long as short
Variational Omni CRDO	0.0000%	8h	185.04	+0.289%	$230K	$105K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	184.86	+0.189%	$512	$119K	10x	as long as short
SunX CRDO-USDTshort	0.0000%	8h	183.95	−0.304%	$988	$512K	10x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX CRDO-USDT	0.0000%	8h	184.51	0.000%	$8K	$41K	20x	as long as short
Extended CRDO_24_5-USD	+0.0040%	1h	184.45	−0.033%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	184.59	+0.043%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	184.51	0.000%	$192K	$860K	20x	as long as short
Paragon para:CRDO	+0.1363%	1h	184.85	+0.182%	$1.3M	$468K	10x	as long as short