Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0172%/8h= −18.8% APRpaid last 24h −0.013%

Price spread now: BloFin against Arcus−0.074%7-day average +0.068% · 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−$55as in the Price arb table

costs, in and out, $10k−$410.406% of the position

Long on Arcus Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.031%+$3 on $10k

Price spread, last 3 days (all we have)+0.109%+$11 · spread now −0.074%, 7d avg +0.068%

Together, before fees+0.140%+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and BloFin is 0.142% cheaper against Arcus than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.068%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus CRCL-USD	94.750	0.0533	pay 0.0067% / 1h	20m 34s	$97K	$275K	10x
Short	BloFin CRCL-USDT	94.680	0.0361	get 0.0361% / 8h	20m 34s	$1.1M	$600K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.074%Rate

Funding earned: −$36.15
Price spread: −0.074% → +0.068%: −$14.16
Slippage, 4 orders: −$24.07
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$90.87
Costs to cover: 0.406%
Break-even: never at this rate

Slippage from Arcus: live order book, 58 min ago; BloFin: 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, 58 min ago	3.18 bp	9.2 bp −$9	9.6 bp −$96	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	1.58 bp	10.3 bp −$10	16.1 bp −$161	40.6 bp −$4,056	doesn't fit

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	94.760	+0.011%	$7.2M	$27.7M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.730	−0.021%	$1.0M	$52K	10x	as long as short
QFEX CRCL-USD	+0.0022%	1h	94.670	−0.084%	$1.4M	$2.7M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.787	+0.039%	$895K	$2.9M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	94.510	−0.253%	$940K	$723K	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.640	−0.116%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.665	−0.090%	$367K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.676	−0.078%	$48K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.630	−0.127%	$1.1M	$5.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0054%	1h	94.731	−0.020%	$2K	$21K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica CRCL	+0.0100%	1h	94.730	−0.021%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.740	−0.011%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.620	−0.137%	$70K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.710	−0.042%	$944	$3K	10x	as long as short
Bybit CRCLUSDT	+0.0102%	8h	94.800	+0.053%	$15.6M	$25.9M	50x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.737	−0.014%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0118%	8h	94.766	+0.017%	$777	$740	5x	as long as short
tradeXYZ xyz:CRCL	+0.0174%	1h	94.741	−0.009%	$71.2M	$42.9M	10x	as long as short
Variational Omni CRCL	+0.0184%	8h	94.712	−0.040%	$2.5M	$3.1M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0197%	8h	94.770	+0.021%	$22.9M	$60.8M	50x	as long as short
GRVT CRCL_USDT_Perp	+0.0233%	8h	94.746	−0.004%	$61K	$1.1M	10x	as long as short
Extended CRCL_24_5-USD	+0.0240%	1h	94.740	−0.011%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0243%	8h	94.756	+0.007%	$109.8M	$390.2M	50x	as long as short
Aster CRCLUSDT	+0.0245%	8h	94.730	−0.021%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0273%	1h	94.693	−0.060%	$127K	$73K	3x	as long as short
Phoenix CRCL	+0.0288%	1h	94.779	+0.031%	$28K	$92K	10x	as long as short
Bitget CRCLUSDT	+0.0303%	8h	94.780	+0.032%	$17.0M	$35.4M	25x	as long as short
Lighter CRCL	+0.0352%	1h	94.800	+0.053%	$3.1M	$2.2M	10x	as long as short
BloFin CRCL-USDTshort	+0.0361%	8h	94.680	−0.074%	$1.1M	$600K	20x
Injective CRCL/USDC PERP	+0.0440%	1h	95.560	+0.855%	$5K	$19K	30x	as long as short
Arcus CRCL-USDlong	+0.0533%	1h	94.750	long leg	$97K	$275K	10x
RISEx CRCL/USDC	+0.0534%	1h	94.769	+0.020%	$432K	$303K	10x	as long as short
edgeX CRCLUSDC	+0.0768%	4h	94.705	−0.047%	$24K	$268K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0807%	1h	94.710	−0.042%	$4K	$772K	10x	as long as short