Funding arb · Price arb /

CRWD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h 0.000%

Price spread now: Bitget against QFEX−0.036%46s7-day average +0.020% · 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—prices read too far apart to compare

costs, in and out, $10k−$710.712% of the position

Long on QFEX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.108%+$11 · spread now −0.036%, 7d avg +0.020%

Together, before fees+0.111%+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bitget is 0.056% cheaper against QFEX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.020%). Swap the legs. The two prices were read 46 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	QFEX CRWD-USD	251.26	0.0044	pay 0.0005% / 1h	25m 49s	$1.2M	$2.6M	10x
Short	Bitget CRWDUSDT	251.17	0	get 0.0000% / 8h	2h 25m	$294K	$416K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against QFEX. 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 QFEXbpFee BitgetbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$9.19
Price spread: −0.036% → +0.020%: −$5.57
Slippage, 4 orders: −$49.25
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$86.01
Costs to cover: 0.712%
Break-even: never at this rate

Slippage from QFEX: live order book, 12 min ago; Bitget: live order book, 19 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 QFEX live order book, 12 min ago	3.19 bp	11.2 bp −$11	21.6 bp −$216	doesn't fit	doesn't fit
Sell Bitget live order book, 19 min ago	14.01 bp	29.2 bp −$29	70.3 bp −$703	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	246.46	−1.910%	$22K	$20K	12x	as long as short
Aster CRWDUSDT	0.0000%	8h	251.26	−0.002%	$4K	$37K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	251.26	−0.002%	$2.5M	$7.0M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	251.16	−0.040%	$1.2M	$544K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	251.10	−0.064%	$602K	$692K	25x	as long as short
Bitget CRWDUSDTshort	0.0000%	8h	251.17	−0.036%	$294K	$416K	20x
Variational Omni CRWD	0.0000%	8h	251.27	+0.005%	$68K	$60K	—	as long as short
GRVT CRWD_USDT_Perp	0.0000%	8h	250.82	−0.173%	$1K	$121K	10x	as long as short
SunX CRWD-USDT	0.0000%	8h	251.26	0.000%	$2K	$1.2M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	251.38	+0.048%	$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	251.27	+0.004%	$1.5M	$210K	10x	as long as short
BloFin CRWD-USDT	+0.0027%	8h	251.11	−0.060%	$72K	$24K	25x	as long as short
QFEX CRWD-USDlong	+0.0044%	1h	251.26	long leg	$1.2M	$2.6M	10x
Extended CRWD_24_5-USD	+0.0048%	1h	250.85	−0.161%	$100K	—	10x	as long as short
KuCoin CRWDUSDTM	+0.0100%	8h	251.17	−0.036%	$34K	$298K	20x	as long as short
tradeXYZ xyz:CRWD	+0.0114%	1h	251.09	−0.068%	$876K	$666K	10x	as long as short
Paragon para:CRWD	+0.0118%	1h	250.97	−0.114%	$85K	$108K	10x	as long as short
Phoenix CRWD	+0.0160%	1h	250.98	−0.111%	$2	$106K	10x	as long as short