Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0043%/8h= −4.7% APRpaid last 24h −0.037%

Price spread now: Binance against Arcus+0.018%7-day average +0.041% · 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−$30as in the Price arb table

costs, in and out, $10k−$280.282% of the position

Long on Arcus Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.088%−$9 on $10k

Price spread, last 2 days (all we have)+0.072%+$7 · spread now +0.018%, 7d avg +0.041%

Together, before fees−0.016%−$2 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 Binance is 0.023% cheaper against Arcus than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.041%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus CRCL-USD	94.190	0.0214	pay 0.0027% / 1h	26m 59s	$96K	$275K	10x
Short	Binance CRCLUSDT	94.207	0.0171	get 0.0171% / 8h	1h 26m	$108.3M	$388.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Arcus. 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 ArcusbpFee BinancebpOrdersPrice spread, now +0.018%Rate

Funding earned: −$9.02
Price spread: +0.018% → +0.041%: −$2.32
Slippage, 4 orders: −$13.66
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$39.5
Costs to cover: 0.282%
Break-even: never at this rate

Slippage from Arcus: live order book, 56 min ago; Binance: live order book, 2 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 Arcus live order book, 56 min ago	3.17 bp	10.2 bp −$10	10.7 bp −$107	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	0.53 bp	6.3 bp −$6	11.8 bp −$118	37.6 bp −$3,761	148.1 bp −$74.1K

CRCL on 34 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
Gate CRCL_USDT	0.0000%	8h	94.220	+0.032%	$7.2M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.200	+0.011%	$1.0M	$50K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.226	+0.038%	$888K	$2.9M	10x	as long as short
QFEX CRCL-USD	+0.0033%	1h	94.200	+0.011%	$1.4M	$2.8M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.060	−0.138%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0047%	1h	94.196	+0.006%	$2K	$20K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.192	+0.002%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.179	−0.012%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.130	−0.064%	$1.1M	$5.8M	10x	as long as short
Bybit CRCLUSDT	+0.0072%	8h	94.250	+0.064%	$15.5M	$25.9M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International CRCL-PERP-INTX	+0.0080%	1h	94.100	−0.096%	$936K	$740K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.120	−0.074%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.210	+0.021%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.110	−0.085%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.170	−0.021%	$939	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.244	+0.057%	$4	—	10x	as long as short
edgeX CRCLUSDC	+0.0123%	4h	94.166	−0.026%	$24K	$266K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0124%	8h	94.204	+0.015%	$59K	$1.2M	10x	as long as short
Variational Omni CRCL	+0.0128%	8h	94.183	−0.007%	$2.5M	$3.2M	—	as long as short
Paradex CRCL-USD-PERP	+0.0149%	8h	94.160	−0.031%	$772	$740	5x	as long as short
tradeXYZ xyz:CRCL	+0.0153%	1h	94.180	−0.011%	$70.6M	$42.8M	10x	as long as short
RISEx CRCL/USDC	+0.0159%	1h	94.200	+0.011%	$430K	$310K	10x	as long as short
Extended CRCL_24_5-USD	+0.0168%	1h	94.191	+0.001%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDTshort	+0.0171%	8h	94.207	+0.018%	$108.3M	$388.6M	50x
Aster CRCLUSDT	+0.0194%	8h	94.158	−0.034%	$1.1M	$4.8M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0210%	8h	94.190	0.000%	$22.8M	$60.4M	50x	as long as short
Phoenix CRCL	+0.0212%	1h	94.187	−0.003%	$28K	$92K	10x	as long as short
Arcus CRCL-USDlong	+0.0214%	1h	94.190	long leg	$96K	$275K	10x
Nado CRCL-PERP	+0.0263%	1h	94.112	−0.083%	$126K	$74K	3x	as long as short
Lighter CRCL	+0.0288%	1h	94.251	+0.065%	$3.0M	$2.3M	10x	as long as short
BloFin CRCL-USDT	+0.0291%	8h	94.200	+0.011%	$1.1M	$579K	20x	as long as short
Bitget CRCLUSDT	+0.0313%	8h	94.240	+0.053%	$16.6M	$35.2M	25x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0387%	1h	94.270	+0.085%	$4K	$771K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.760	+0.605%	$5K	$19K	30x	as long as short