Funding arb · Price arb /

CRWV

RWAall CRWV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0128%/8h= +14.0% APRpaid last 24h +0.043%

Price spread now: Bybit against Phoenix−0.023%85s7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Bybit is 0.023% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.023% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 15 hours of funding at the current rate (+$4 a day). The two prices were read 85 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	Phoenix CRWV	85.890	0.0278	pay 0.0035% / 1h	39m 58s	$1K	$46K	10x
Short	Bybit CRWVUSDT	85.870	0.0406	get 0.0406% / 8h	6h 39m	$2.2M	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.023%Rate

Funding earned: $26.85
Price spread: −0.023% → 0.000%: −$2.33
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $6.52
Costs to cover: 0.180%
Break-even: 5.3 days

Slippage unknown: Phoenix: no order-book sample; Bybit: live order book, 2 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 no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	1.16 bp	14.0 bp −$14	69.1 bp −$691	doesn't fit	doesn't fit

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CRWV on 23 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
BloFin CRWV-USDT	−0.0027%	8h	86.180	+0.338%	$171K	$68K	20x	as long as short
Aster CRWVUSDT	0.0000%	8h	85.941	+0.060%	$37K	$35K	20x	as long as short
OKX CRWV-USDT-SWAP	0.0000%	8h	85.850	−0.047%	$2.6M	$4.6M	25x	as long as short
Gate CRWV_USDT	0.0000%	8h	85.830	−0.070%	$5.5M	$3.9M	50x	as long as short
Bitget CRWVUSDT	0.0000%	8h	85.890	0.000%	$2.2M	$1.9M	20x	as long as short
GRVT CRWV_USDT_Perp	0.0000%	8h	85.962	+0.084%	$2K	$192K	10x	as long as short
SunX CRWV-USDT	0.0000%	8h	85.760	−0.151%	$1K	$4.9M	10x	as long as short
HTX CRWV-USDT	0.0000%	8h	85.860	−0.035%	$140K	$2K	20x	as long as short
edgeX CRWVUSDC	+0.0012%	4h	85.867	−0.027%	$88K	$201K	10x	as long as short
QFEX CRWV-USD	+0.0018%	1h	85.810	−0.093%	$1.3M	$3.0M	10x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRWV	+0.0032%	1h	85.800	−0.105%	$417K	$356K	10x	as long as short
Arcus CRWV-USD	+0.0040%	1h	85.820	−0.081%	$64K	$78K	10x	as long as short
Variational Omni CRWV	+0.0041%	8h	85.842	−0.056%	$313K	$391K	—	as long as short
Vest CRWV-USD-PERP	+0.0046%	1h	85.840	−0.058%	—	$156K	10x	as long as short
Ondo Perps CRWV-USD.P	+0.0050%	1h	85.630	−0.303%	$331K	$218K	10x	as long as short
Lighter CRWV	+0.0056%	1h	85.890	0.000%	$104K	$30K	10x	as long as short
KuCoin CRWVUSDTM	+0.0100%	8h	85.770	−0.140%	$364K	$519K	20x	as long as short
Extended CRWV-USD	+0.0112%	1h	85.800	−0.105%	$19K	$309K	10x	as long as short
Binance CRWVUSDT	+0.0114%	8h	85.820	−0.081%	$9.6M	$17.5M	25x	as long as short
Phoenix CRWVlong	+0.0278%	1h	85.890	long leg	$1K	$46K	10x
tradeXYZ xyz:CRWV	+0.0333%	1h	85.779	−0.129%	$9.9M	$8.1M	10x	as long as short
Bybit CRWVUSDTshort	+0.0406%	8h	85.870	−0.023%	$2.2M	$1.2M	25x
Polymarket Perps CRWV-USD	+0.0676%	1h	85.901	+0.013%	$70K	$268K	10x	as long as short