Funding arb · Price arb /

CRWD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0054%/8h= +5.9% APRpaid last 24h +0.033%

Price spread now: KuCoin against QFEX+0.004%7-day average +0.114% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$576as in the Price arb table

costs, in and out, $10k−$5655.654% of the position

Long on QFEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.153%+$15 on $10k

Price spread, last 4 days (all we have)+0.081%+$8 · spread now +0.004%, 7d avg +0.114%

Together, before fees+0.234%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.110% cheaper against QFEX than usual: you would sell low and buy high (spread +0.004% now, against its 7-day average of +0.114%). If the spread goes back, that is −$11 on $10k: about 6.8 days of funding at the current rate (+$2 a day). At the pace of the last 4 days (+0.153% in total) that is about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRWD-USD	249.08	0.0046	pay 0.0006% / 1h	23m 08s	$1.2M	$2.8M	10x
Short	KuCoin CRWDUSDTM	249.09	0.0100	get 0.0100% / 8h	5h 23m	$35K	$438K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.004%Rate

Funding earned: $11.27
Price spread: +0.004% → +0.114%: −$11
Slippage, 4 orders: −$543.39
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$565.12
Costs to cover: 5.654%
Break-even: 357.9 days

Slippage from QFEX: live order book, 5 min ago; KuCoin: live order book, 74 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, 5 min ago	27.27 bp	32.3 bp −$32	40.0 bp −$400	doesn't fit	doesn't fit
Sell KuCoin live order book, 74 min ago	10.46 bp	186.4 bp −$186	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	240.64	−3.388%	$21K	$20K	12x	as long as short
Aster CRWDUSDT	0.0000%	8h	249.05	−0.014%	$4K	$37K	20x	as long as short
Binance CRWDUSDT	0.0000%	8h	249.18	+0.040%	$2.4M	$6.7M	25x	as long as short
Bybit CRWDUSDT	0.0000%	8h	248.94	−0.056%	$1.1M	$529K	25x	as long as short
OKX CRWD-USDT-SWAP	0.0000%	8h	249.01	−0.028%	$600K	$651K	25x	as long as short
Bitget CRWDUSDT	0.0000%	8h	249.16	+0.032%	$292K	$416K	20x	as long as short
Variational Omni CRWD	0.0000%	8h	249.09	+0.006%	$67K	$60K	—	as long as short
GRVT CRWD_USDT_Perp	0.0000%	8h	249.26	+0.072%	$1K	$112K	10x	as long as short
SunX CRWD-USDT	0.0000%	8h	249.16	+0.032%	$2K	$1.2M	10x	as long as short
HTX CRWD-USDT	0.0000%	8h	249.30	+0.088%	$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	249.16	+0.032%	$1.5M	$191K	10x	as long as short
BloFin CRWD-USDT	+0.0005%	8h	249.16	+0.032%	$73K	$24K	25x	as long as short
QFEX CRWD-USDlong	+0.0046%	1h	249.08	long leg	$1.2M	$2.8M	10x
Extended CRWD_24_5-USD	+0.0048%	1h	248.85	−0.090%	$99K	—	10x	as long as short
tradeXYZ xyz:CRWD	+0.0050%	1h	248.88	−0.080%	$867K	$627K	10x	as long as short
KuCoin CRWDUSDTMshort	+0.0100%	8h	249.09	+0.004%	$35K	$438K	20x
Paragon para:CRWD	+0.0285%	1h	248.64	−0.177%	$84K	$108K	10x	as long as short
Phoenix CRWD	+0.0289%	1h	249.06	−0.008%	$4	$106K	10x	as long as short