Funding arb · Price arb /

CRWD

RWAall CRWD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.015%

Price spread now: Phemex against Bybit+0.145%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$212as in the Funding arb table

Net, price: spread back to 7d avg − costs−$217as in the Price arb table

costs, in and out, $10k−$2292.292% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.173%+$17 on $10k

Price spread, last 4 days (all we have)−0.129%−$13 · spread now +0.145%, 7d avg +0.021%

Together, before fees+0.044%+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.124% dearer against Bybit than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CRWDUSDT	248.72	0	get 0.0000% / 8h	3h 39m	$1.1M	$530K	25x
Short	Phemex CRWDUSDT	249.08	0	get 0.0000% / 8h	3h 39m	$1.5M	$194K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. 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 BybitbpFee PhemexbpOrdersPrice spread, now +0.145%Rate

Funding earned: $0
Price spread: +0.145% → +0.021%: $12.39
Slippage, 4 orders: −$206.22
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$216.83
Costs to cover: 2.292%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Phemex: live order book, 3 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 Bybit live order book, 1 min ago	6.03 bp	96.0 bp −$96	214.8 bp −$2,148	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	4.22 bp	49.5 bp −$50	doesn't fit	doesn't fit	doesn't fit

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 PERP	−0.0220%	1h	245.36	−1.351%	$22K	$20K	12x	as long as short
BloFin CRWD-USDT	−0.0029%	8h	249.16	+0.177%	$72K	$24K	25x	as long as short
Aster CRWDUSDT	0.0000%	8h	248.93	+0.084%	$4K	$37K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	249.05	+0.133%	$2.4M	$6.7M	25x	as long as short
Bybit CRWDUSDTlong	0.0000%	8h	248.72	long leg	$1.1M	$530K	25x
OKX CRWD-USDT-SWAP	0.0000%	8h	249.02	+0.121%	$596K	$667K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	249.09	+0.149%	$292K	$416K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	249.04	+0.129%	$67K	$60K	—	as long as short
GRVT CRWD_USDT_Perp	0.0000%	8h	249.08	+0.146%	$772	$116K	10x	as long as short
SunX CRWD-USDT	0.0000%	8h	248.93	+0.084%	$2K	$1.2M	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX CRWD-USDT	0.0000%	8h	249.22	+0.201%	$6K	$7K	20x	as long as short
Phemex CRWDUSDTshort	0.0000%	8h	249.08	+0.145%	$1.5M	$194K	10x
QFEX CRWD-USD	+0.0024%	1h	248.91	+0.076%	$1.2M	$2.6M	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	248.84	+0.048%	$99K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0050%	1h	248.83	+0.044%	$861K	$627K	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	248.95	+0.092%	$34K	$350K	20x	as long as short
Phoenix CRWD	+0.0353%	1h	248.96	+0.096%	$4	$106K	10x	as long as short
Paragon para:CRWD	+0.0368%	1h	248.76	+0.018%	$84K	$108K	10x	as long as short