CRWD

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0291%/8h= −31.8% APRnext payment −$0.36 per $10,000 · paid last 24h −0.071%

Price spread now: QFEX against Phoenix−0.152%7-day average −0.093% · 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−$54as in the Price arb table

costs, in and out, $10k−$480.479% of the position

Long on Phoenix Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.103%−$10 on $10k

Price spread, last 3 days (all we have)+0.177%+$18 · spread now −0.152%, 7d avg −0.093%

Together, before fees+0.075%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and QFEX is 0.059% cheaper against Phoenix than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.093%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix CRWD	249.63	0.0321	pay 0.0040% / 1h	23m 17s	$2	$140K	10x
Short	QFEX CRWD-USD	249.25	0.0030	get 0.0004% / 1h	23m 17s	$1.2M	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Phoenix. 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 PhoenixbpFee QFEXbpOrdersPrice spread, now −0.152%Rate

Funding earned: −$61.06
Price spread: −0.152% → −0.093%: −$5.94
Slippage, 4 orders: −$30.93
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$114.94
Costs to cover: 0.479%
Break-even: never at this rate

Slippage from Phoenix: live order book, 43 min ago; QFEX: live order book, 4 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 Phoenix live order book, 43 min ago	2.41 bp	15.9 bp −$16	62.4 bp −$624	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	2.20 bp	7.2 bp −$7	15.3 bp −$153	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	249.23	−0.158%	$4K	$37K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	249.27	−0.144%	$2.4M	$6.7M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	249.32	−0.124%	$1.2M	$650K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	249.53	−0.040%	$616K	$626K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	249.30	−0.132%	$292K	$416K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	249.56	−0.027%	$67K	$60K	—	as long as short
SunX CRWD-USDT	0.0000%	8h	249.41	−0.088%	$2K	$1.2M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	249.77	+0.056%	$6K	$7K	20x	as long as short
Phemex CRWDUSDT	0.0000%	8h	249.27	−0.144%	$1.5M	$193K	10x	as long as short
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-USDshort	+0.0030%	1h	249.25	−0.152%	$1.2M	$2.9M	10x
Extended CRWD_24_5-USD	+0.0048%	1h	249.03	−0.238%	$99K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0083%	1h	249.19	−0.176%	$867K	$634K	10x	as long as short
Paragon para:CRWD	+0.0095%	1h	249.40	−0.092%	$84K	$108K	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	249.42	−0.084%	$35K	$470K	20x	as long as short
GRVT CRWD_USDT_Perp	+0.0219%	8h	249.55	−0.032%	$1K	$108K	10x	as long as short
Injective CRWD/USDC PERP	+0.0220%	1h	238.48	−4.467%	$21K	$19K	12x	as long as short
Phoenix CRWDlong	+0.0321%	1h	249.63	long leg	$2	$140K	10x