CRM Funding Rate — Salesforce tokenized stock perpetuals across 6 venues

Tokenized stock (xStock) perpetual · compared across 6 venues · net of estimated fees · updated every few minutes

CRM represents tokenized exposure to Salesforce shares (a Backed.fi xStock) traded as a perpetual. The perp, its funding and the underlying share are three different things — read the rate with liquidity and the backtest below.

Live annualized CRM perpetual funding across all 6 venues Perpia tracks. Right now CRM funding is positive on 1 and negative on 0, ranging from +10.9% on KuCoin to +0.0% on Bybit — a spread of 10.9%. The widest delta-neutral trade is long Bitget / short KuCoin at 7.1% net APR.

venues

paying positive

10.9%

funding spread

Best CRM spread now

7.1%

net APR after fees

Long Bitget→Short KuCoin

size depends on live venue depth — see the real cap in the scanner

CRM funding trend & liquidity

168h of history

10.9%

current gross APR

10.9%

24h average

-12.2%

7-day average

$279K

pair OI · lower leg

$123K

24h volume · lower leg

Averages are historical funding over the window shown. A current rate near the 7-day average may indicate the spread has persisted; a rate far above it is usually a short-lived spike. OI and volume are the smaller (binding) leg of the best pair — the ceiling on tradeable size.

CRM funding rate history

30d · 6h buckets · 8 venues

54.2%0-184.0%

6 Aug5 Sep

CRM — average across 8 venuesAsterBitgetKuCoinOKX

Annualized funding, averaged into 6-hour buckets. The bold line is the mean across venues quoting in that bucket; the faint lines are individual venues. Mean over the window: +1.0%. A break in a line means no data was recorded for that stretch, not a zero rate.

CRM funding rate by venue

5 pairs scanned

Venue	Funding APR	Interval
KuCoin ↗	+10.9%	8h
Bitget ↗	+0.0%	8h
Variational ↗	+0.0%	8h
OKX ↗	+0.0%	8h
Gate.io ↗	+0.0%	8h
Bybit ↗	+0.0%	8h

Rates annualized; updated ~every few minutes from live venue data. Venue names link to that exchange's full funding table; ↗ opens the market on the exchange itself. Every spread between these two venues is on the Bitget vs KuCoin page.

CRM arbitrage — 30-day backtest

long Bitget · short KuCoin

5.1%

backtested APR

+$42

historical net P&L on $10,000

0.36%

max drawdown

$10,000$10,042

30 days agostarting capital $10,000today

Over the last 30 days, holding long Bitget / short KuCoin would have produced 5.1% APR — versus the 7.1% the live spread implies right now (equity $10,000 → $10,042). This is a backtest on historical funding, not a live result: funding drifts and decays, so backtested results rarely match the current headline rate — which is why size and holding window matter more than the top-line number.

Open full interactive backtest →

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CRM funding — FAQ

Is CRM funding positive right now?

CRM perpetual funding is positive on 1 of 6 venues Perpia tracks. The highest is +10.9% on KuCoin; the lowest is +0.0% on Bybit.

What is the best CRM funding arbitrage right now?

Go long Bitget and short KuCoin for about 7.1% net APR after fees — the widest delta-neutral CRM spread Perpia currently sees.

Which exchange has the highest CRM funding rate?

KuCoin, at +10.9% annualized. Funding shifts continuously, so check the live table above before trading.

How CRM funding arbitrage works

Funding arbitrage combines opposing positions on two venues — long the one paying the most negative funding, short the one paying the most positive — to reduce directional exposure and capture the difference between their funding payments. Fees, slippage, basis divergence and liquidation risk can reduce the result. See the methodology for how it is measured and the guide for the full walkthrough.

Related tokenized stocks

See the full list on the tokenized stocks hub.

Open the live scanner →All funding rates Funding by exchange All tokenized stocks How we calculate this