Funding arb · Price arb /

CRWD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0128%/8h= −14.0% APRpaid last 24h −0.073%

Price spread now: SunX against Phoenix−0.036%7-day average −0.070% · you buy dearer than you sell

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

Long on Phoenix Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.190%−$19 on $10k

Price spread, last 4 days (all we have)−0.040%−$4 · spread now −0.036%, 7d avg −0.070%

Together, before fees−0.230%−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.034% dearer against Phoenix than usual: you sell high and buy low (spread −0.036% now, against its 7-day average of −0.070%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 21 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix CRWD	250.63	0.0128	pay 0.0016% / 1h	6m 46s	$4	$121K	10x
Short	SunX CRWD-USDT	250.54	0	get 0.0000% / 8h	6m 46s	$2K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$26.84
Price spread: −0.036% → −0.070%: $3.39
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$38.45
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Phoenix: live order book, 23 min ago; SunX: live order book, 6 min ago. 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 Phoenix live order book, 23 min ago	3.19 bp	18.2 bp −$18	72.4 bp −$724	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	500.33 bp	doesn't fit	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	246.01	−1.843%	$22K	$20K	12x	as long as short
BloFin CRWD-USDT	−0.0024%	8h	250.70	+0.028%	$70K	$24K	25x	as long as short
Aster CRWDUSDT	0.0000%	8h	250.57	−0.022%	$4K	$35K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	250.69	+0.023%	$2.5M	$7.3M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	250.24	−0.156%	$1.1M	$440K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	250.56	−0.028%	$545K	$766K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	250.45	−0.072%	$305K	$411K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	250.84	+0.083%	$68K	$56K	—	as long as short
SunX CRWD-USDTshort	0.0000%	8h	250.54	−0.036%	$2K	$1.1M	10x
HTX CRWD-USDT	0.0000%	8h	250.84	+0.084%	$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	250.66	+0.012%	$1.5M	$221K	10x	as long as short
QFEX CRWD-USD	+0.0017%	1h	250.66	+0.012%	$1.2M	$2.7M	10x	as long as short
GRVT CRWD_USDT_Perp	+0.0044%	8h	250.84	+0.084%	$446	$124K	10x	as long as short
Extended CRWD_24_5-USD	+0.0048%	1h	250.39	−0.096%	$100K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0095%	1h	250.57	−0.024%	$893K	$676K	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	250.67	+0.016%	$34K	$252K	20x	as long as short
Phoenix CRWDlong	+0.0128%	1h	250.63	long leg	$4	$121K	10x
Paragon para:CRWD	+0.0397%	1h	250.56	−0.026%	$84K	$108K	10x	as long as short