Funding arb · Price arb /

CRDO

RWAall CRDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0024%/8h= −2.6% APRpaid last 24h −0.003%

Price spread now: QFEX against SunX−0.100%7-day average −0.019% · 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−$152as in the Price arb table

costs, in and out, $10k−$1441.441% of the position

Long on SunX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.186%+$19 · spread now −0.100%, 7d avg −0.019%

Together, before fees+0.181%+$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and QFEX is 0.082% cheaper against SunX than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.019%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX CRDO-USDT	189.25	0	get 0.0000% / 8h	5h 27m	$1K	$517K	10x
Short	QFEX CRDO-USD	189.06	−0.0024	pay 0.0003% / 1h	27m 24s	$1.1M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.100%Rate

Funding earned: −$5.06
Price spread: −0.100% → −0.019%: −$8.19
Slippage, 4 orders: −$126.12
Fee SunX: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$157.36
Costs to cover: 1.441%
Break-even: never at this rate

Slippage from SunX: live order book, 4 min ago; QFEX: live order book, 5 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, 4 min ago	45.43 bp	63.6 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	1.85 bp	8.4 bp −$8	13.4 bp −$134	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-USDshort	−0.0024%	1h	189.06	−0.100%	$1.1M	$2.8M	10x
Aster CRDOUSDT	0.0000%	8h	189.21	−0.020%	$38K	$11K	20x	as long as short
Binance CRDOUSDT	0.0000%	8h	188.98	−0.143%	$4.2M	$8.1M	20x	as long as short
Bybit CRDOUSDT	0.0000%	8h	189.12	−0.069%	$715K	$740K	25x	as long as short
OKX CRDO-USDT-SWAP	0.0000%	8h	189.15	−0.053%	$920K	$1.4M	20x	as long as short
Gate CRDO_USDT	0.0000%	8h	189.18	−0.037%	$657K	$120K	20x	as long as short
Bitget CRDOUSDT	0.0000%	8h	189.08	−0.090%	$1.7M	$1.6M	20x	as long as short
Variational Omni CRDO	0.0000%	8h	189.23	−0.013%	$222K	$59K	—	as long as short
GRVT CRDO_USDT_Perp	0.0000%	8h	189.14	−0.059%	$225	$115K	10x	as long as short
SunX CRDO-USDTlong	0.0000%	8h	189.25	long leg	$1K	$517K	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	189.22	−0.016%	$8K	$39K	20x	as long as short
Extended CRDO_24_5-USD	+0.0040%	1h	189.12	−0.069%	$1K	—	5x	as long as short
Vest CRDO-USD-PERP	+0.0046%	1h	189.18	−0.037%	—	—	5x	as long as short
KuCoin CRDOUSDTM	+0.0100%	8h	189.06	−0.100%	$196K	$894K	20x	as long as short
Paragon para:CRDO	+0.1571%	1h	189.54	+0.151%	$1.3M	$450K	10x	as long as short