Funding arb · Price arb /

CRWD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0203%/8h= +22.2% APRpaid last 24h −0.066%

Price spread now: BloFin against Injective+4.021%714s7-day average — · you sell dearer than you buy

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

Long on Injective Short on BloFin

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 for this trade now. Funding pays +$6 a day on $10k at the current rate, and BloFin is 4.021% dearer against Injective than usual: you sell high and buy low: +$402 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 714 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective CRWD/USDC PERP	239.49	−0.0220	get 0.0028% / 1h	35m 30s	$21K	$19K	12x
Short	BloFin CRWD-USDT	249.12	−0.0017	pay 0.0017% / 8h	6h 35m	$73K	$24K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Injective. 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 InjectivebpFee BloFinbpOrdersPrice spread, now +4.021%Rate

Funding earned: $42.55
Price spread: +4.021% → 0.000%: $402.1
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: $432.63
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; BloFin: 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 Injective no order-book sample	—	—	—	—	—
Sell BloFin no order-book sample	—	—	—	—	—

Injective and BloFin: 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 PERPlong	−0.0220%	1h	239.49	long leg	$21K	$19K	12x
BloFin CRWD-USDTshort	−0.0017%	8h	249.12	+4.021%	$73K	$24K	25x
Aster CRWDUSDT	0.0000%	8h	248.85	+3.909%	$4K	$37K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	248.83	+3.900%	$2.4M	$6.7M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	248.67	+3.833%	$1.1M	$532K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	248.61	+3.808%	$614K	$615K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	248.86	+3.912%	$291K	$416K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	248.80	+3.886%	$67K	$60K	—	as long as short
GRVT CRWD_USDT_Perp	0.0000%	8h	248.91	+3.933%	$956	$110K	10x	as long as short
SunX CRWD-USDT	0.0000%	8h	248.87	+3.917%	$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	249.11	+4.017%	$6K	$7K	20x	as long as short
Phemex CRWDUSDT	0.0000%	8h	248.97	+3.958%	$1.5M	$190K	10x	as long as short
QFEX CRWD-USD	+0.0023%	1h	248.80	+3.887%	$1.2M	$2.8M	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	248.58	+3.796%	$99K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0050%	1h	248.72	+3.854%	$867K	$632K	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	248.82	+3.896%	$34K	$473K	20x	as long as short
Paragon para:CRWD	+0.0235%	1h	248.63	+3.816%	$84K	$108K	10x	as long as short
Phoenix CRWD	+0.0257%	1h	248.97	+3.958%	$3	$106K	10x	as long as short