Funding arb · Price arb /

CRWD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h +0.039%

Price spread now: Injective against Binance−2.445%7-day average — · you buy dearer than you sell

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

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Injective is 2.445% cheaper against Binance than usual: you would sell low and buy high (−$245 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CRWDUSDT	250.27	0	get 0.0000% / 8h	1h 25m	$2.5M	$7.1M	25x
Short	Injective CRWD/USDC PERP	244.15	−0.0220	pay 0.0028% / 1h	25m 23s	$21K	$20K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. 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 BinancebpFee InjectivebpOrdersPrice spread, now −2.445%Rate

Funding earned: −$46.2
Price spread: −2.445% → 0.000%: −$244.54
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$300.76
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 13 min ago; Injective: no order-book sample. 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 Binance live order book, 13 min ago	1.79 bp	14.5 bp −$14	33.5 bp −$335	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CRWD on 18 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
Injective CRWD/USDC PERPshort	−0.0220%	1h	244.15	−2.445%	$21K	$20K	12x
BloFin CRWD-USDT	−0.0015%	8h	250.48	+0.084%	$72K	$24K	25x	as long as short
Aster CRWDUSDT	0.0000%	8h	250.19	−0.033%	$4K	$37K	20x	as long as short
Binance CRWDUSDTlong	0.0000%	8h	250.27	long leg	$2.5M	$7.1M	25x
Bybit CRWDUSDT	0.0000%	8h	250.04	−0.092%	$1.1M	$516K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	250.47	+0.080%	$593K	$701K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	250.84	+0.228%	$313K	$436K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	250.27	−0.002%	$67K	$60K	—	as long as short
SunX CRWD-USDT	0.0000%	8h	250.45	+0.072%	$2K	$1.1M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	250.58	+0.124%	$6K	$7K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRWDUSDT	0.0000%	8h	250.27	0.000%	$1.5M	$212K	10x	as long as short
GRVT CRWD_USDT_Perp	+0.0046%	8h	250.33	+0.024%	$1K	$125K	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	250.00	−0.106%	$100K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0050%	1h	250.02	−0.100%	$891K	$676K	10x	as long as short
QFEX CRWD-USD	+0.0064%	1h	250.31	+0.016%	$1.2M	$2.7M	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	250.17	−0.040%	$34K	$257K	20x	as long as short
Phoenix CRWD	+0.0286%	1h	250.30	+0.012%	$4	$106K	10x	as long as short
Paragon para:CRWD	+0.0353%	1h	249.98	−0.116%	$84K	$108K	10x	as long as short