Funding arb · Price arb /

CRDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0028%/8h= +3.0% APRpaid last 24h +0.003%

Price spread now: Variational Omni against QFEX−0.020%7-day average +0.027% · you buy dearer than you sell

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

Long on QFEX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.080%+$8 on $10k

Price spread, last 3 days (all we have)+0.091%+$9 · spread now −0.020%, 7d avg +0.027%

Together, before fees+0.171%+ Points / potential airdropVariational Omni: Active · farm board+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.047% cheaper against QFEX than usual: you would sell low and buy high (spread −0.020% now, against its 7-day average of +0.027%). If the spread goes back, that is −$5 on $10k: about 5.6 days of funding at the current rate (+$1 a day). At the pace of the last 3 days (+0.080% in total) that is about 47 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRDO-USD	190.39	−0.0028	get 0.0003% / 1h	1m 06s	$1.1M	$3.0M	10x
Short	Variational Omni CRDO	190.35	0	get 0.0000% / 8h	7h 01m	$223K	$59K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against QFEX. 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 QFEXbpFee Variational OmnibpOrdersPrice spread, now −0.020%Rate

Funding earned: $5.8
Price spread: −0.020% → +0.027%: −$4.67
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$8.87
Costs to cover: 0.100%
Break-even: 17.7 days

Slippage unknown: QFEX: live order book, 7 min ago; Variational Omni: RFQ quote, 8 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 QFEX live order book, 7 min ago	1.31 bp	7.4 bp −$7	13.8 bp −$138	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 8 min ago	4.38 bp	doesn't fit	91.2 bp −$912	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-USDlong	−0.0028%	1h	190.39	long leg	$1.1M	$3.0M	10x
Aster CRDOUSDT	0.0000%	8h	190.53	+0.073%	$38K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	190.36	−0.017%	$4.3M	$8.2M	20x	as long as short
Bybit CRDOUSDT	0.0000%	8h	190.48	+0.047%	$720K	$813K	25x	as long as short
OKX CRDO-USDT-SWAP	0.0000%	8h	190.43	+0.021%	$918K	$1.5M	20x	as long as short
Gate CRDO_USDT	0.0000%	8h	190.44	+0.026%	$662K	$124K	20x	as long as short
Bitget CRDOUSDT	0.0000%	8h	190.42	+0.016%	$1.7M	$1.6M	20x	as long as short
Variational Omni CRDOshort	0.0000%	8h	190.35	−0.020%	$223K	$59K	—
GRVT CRDO_USDT_Perp	0.0000%	8h	190.66	+0.141%	$273	$133K	10x	as long as short
SunX CRDO-USDT	0.0000%	8h	190.69	+0.158%	$850	$556K	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	190.46	+0.037%	$8K	$39K	20x	as long as short
Extended CRDO_24_5-USD	+0.0040%	1h	190.46	+0.037%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	190.45	+0.032%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	190.38	−0.005%	$198K	$903K	20x	as long as short
Paragon para:CRDO	+0.1185%	1h	191.02	+0.329%	$1.3M	$439K	10x	as long as short