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 0.000%

Price spread now: Binance against Phemex0.000%7-day average −0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$130as in the Price arb table

costs, in and out, $10k−$1331.330% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 2 days (all we have)−0.062%−$6 · spread now 0.000%, 7d avg −0.031%

Together, before fees−0.112%−$11 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: Binance is 0.031% dearer against Phemex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex CRWDUSDT	249.27	0	get 0.0000% / 8h	7h 22m	$1.5M	$193K	10x
Short	Binance CRWDUSDT	249.27	0	get 0.0000% / 8h	7h 22m	$2.4M	$6.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phemex. 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 PhemexbpFee BinancebpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.031%: $3.12
Slippage, 4 orders: −$110.98
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$129.86
Costs to cover: 1.330%
Break-even: never at this rate

Slippage from Phemex: live order book, 1 min ago; Binance: 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 Phemex live order book, 1 min ago	2.81 bp	52.8 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	1.00 bp	14.3 bp −$14	50.3 bp −$503	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
Aster CRWDUSDT	0.0000%	8h	249.27	+0.001%	$4K	$37K	20x	as long as short
Binance CRWDUSDTshort	0.0000%	8h	249.27	0.000%	$2.4M	$6.7M	25x
Bybit CRWDUSDT	0.0000%	8h	249.32	+0.020%	$1.2M	$647K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	249.53	+0.104%	$616K	$626K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	249.31	+0.016%	$292K	$416K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	249.56	+0.118%	$67K	$60K	—	as long as short
SunX CRWD-USDT	0.0000%	8h	249.43	+0.064%	$2K	$1.2M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	249.77	+0.201%	$6K	$7K	20x	as long as short
Phemex CRWDUSDTlong	0.0000%	8h	249.27	long leg	$1.5M	$193K	10x
BloFin CRWD-USDT	0.0000%	8h	249.45	+0.072%	$73K	$24K	25x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRWD-USD	+0.0030%	1h	249.30	+0.012%	$1.2M	$2.9M	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	249.08	−0.076%	$99K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0072%	1h	249.15	−0.048%	$867K	$634K	10x	as long as short
Paragon para:CRWD	+0.0094%	1h	249.40	+0.052%	$84K	$108K	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	249.43	+0.064%	$35K	$471K	20x	as long as short
GRVT CRWD_USDT_Perp	+0.0219%	8h	249.55	+0.112%	$1K	$108K	10x	as long as short
Injective CRWD/USDC PERP	+0.0220%	1h	238.48	−4.329%	$21K	$19K	12x	as long as short
Phoenix CRWD	+0.0321%	1h	249.63	+0.144%	$2	$140K	10x	as long as short