Funding arb · Price arb /

CRDO

RWAall CRDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1685%/8h= +184.6% APRpaid last 24h +0.179%

Price spread now: Paragon against SunX+0.311%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$128as in the Funding arb table

Net, price: spread back to 7d avg − costs−$156as in the Price arb table

costs, in and out, $10k−$1861.860% of the position

Long on SunX Short on Paragon

What this pair did over the last

the charts below follow

Funding, last 7 days+0.584%+$58 on $10k

Price spread, last 4 days (all we have)−0.252%−$25 · spread now +0.311%, 7d avg +0.012%

Together, before fees+0.332%+$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$51 a day on $10k at the current rate, and Paragon is 0.299% dearer against SunX than usual: you sell high and buy low: +$30 more if the spread goes back to its 7-day average of +0.012%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.584% in total (about 30.5% 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	SunX CRDO-USDT	189.47	0	get 0.0000% / 8h	4h 36m	$991	$514K	10x
Short	Paragon para:CRDO	190.06	0.1685	get 0.0211% / 1h	36m 14s	$1.3M	$460K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon against SunX. 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 SunXbpFee ParagonbpOrdersPrice spread, now +0.311%Rate

Funding earned: $353.95
Price spread: +0.311% → +0.012%: $29.87
Slippage, 4 orders: −$168.05
Fee SunX: 4 bp × 2 orders: −$8
Fee Paragon: 5 bp × 2 orders: −$10
Net: $197.78
Costs to cover: 1.860%
Break-even: 3.1 days

Slippage from SunX: live order book, 55 min ago; Paragon: live order book, 1 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 SunX live order book, 55 min ago	45.43 bp	63.6 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell Paragon live order book, 1 min ago	7.36 bp	25.8 bp −$26	51.6 bp −$516	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	−0.0026%	1h	189.46	−0.005%	$1.1M	$2.6M	10x	as long as short
Aster CRDOUSDT	0.0000%	8h	189.65	+0.097%	$38K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	189.51	+0.024%	$4.2M	$8.1M	20x	as long as short
Bybit CRDOUSDT	0.0000%	8h	189.58	+0.058%	$718K	$737K	25x	as long as short
OKX CRDO-USDT-SWAP	0.0000%	8h	189.54	+0.037%	$917K	$1.3M	20x	as long as short
Gate CRDO_USDT	0.0000%	8h	189.65	+0.095%	$659K	$120K	20x	as long as short
Bitget CRDOUSDT	0.0000%	8h	189.58	+0.058%	$1.7M	$1.6M	20x	as long as short
Variational Omni CRDO	0.0000%	8h	189.56	+0.050%	$222K	$59K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	189.57	+0.053%	$444	$115K	10x	as long as short
SunX CRDO-USDTlong	0.0000%	8h	189.47	long leg	$991	$514K	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	189.43	−0.021%	$8K	$40K	20x	as long as short
Extended CRDO_24_5-USD	+0.0040%	1h	189.69	+0.119%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	189.57	+0.053%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	189.49	+0.011%	$197K	$885K	20x	as long as short
Paragon para:CRDOshort	+0.1685%	1h	190.06	+0.311%	$1.3M	$460K	10x