Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.029%

Price spread now: Gate against Arcus+0.044%7-day average +0.078% · 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−$58as in the Price arb table

costs, in and out, $10k−$540.543% of the position

Long on Arcus Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.102%−$10 on $10k

Price spread, last 4 days (all we have)+0.164%+$16 · spread now +0.044%, 7d avg +0.078%

Together, before fees+0.062%+$6 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 Gate is 0.034% cheaper against Arcus than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.078%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus CRCL-USD	91.520	0.0040	pay 0.0005% / 1h	37m 41s	$93K	$273K	10x
Short	Gate CRCL_USDT	91.560	0	get 0.0000% / 8h	5h 37m	$7.1M	$26.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.044%Rate

Funding earned: −$8.46
Price spread: +0.044% → +0.078%: −$3.44
Slippage, 4 orders: −$34.85
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$66.25
Costs to cover: 0.543%
Break-even: never at this rate

Slippage from Arcus: live order book, 26 min ago; Gate: live order book, 1 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, 26 min ago	3.81 bp	10.9 bp −$11	14.4 bp −$144	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	3.28 bp	12.4 bp −$12	26.6 bp −$266	doesn't fit	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
Bitget CRCLUSDT	−0.1323%	8h	91.620	+0.109%	$15.7M	$34.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0076%	1h	91.320	−0.219%	—	$35K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.450	−0.076%	$902K	$527K	10x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.542	+0.025%	$1.1M	$5.7M	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.590	+0.076%	$14.9M	$25.7M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.573	+0.058%	$418K	$297K	10x	as long as short
Gate CRCL_USDTshort	0.0000%	8h	91.560	+0.044%	$7.1M	$26.6M	50x
Variational Omni CRCL	0.0000%	8h	91.517	−0.003%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.568	+0.053%	$66K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.550	+0.033%	$1.0M	$49K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CRCLUSDT	+0.0002%	8h	91.560	+0.044%	$104.1M	$384.3M	50x	as long as short
Aster CRCLUSDT	+0.0012%	8h	91.595	+0.082%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0014%	8h	91.590	+0.076%	$21.5M	$59.3M	50x	as long as short
BloFin CRCL-USDT	+0.0019%	8h	91.530	+0.011%	$1.1M	$1.3M	20x	as long as short
Aftermath Perps CRCLUSD	+0.0021%	1h	91.460	−0.066%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.530	+0.011%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.582	+0.068%	$973K	$2.9M	10x	as long as short
Arcus CRCL-USDlong	+0.0040%	1h	91.520	long leg	$93K	$273K	10x
tradeXYZ xyz:CRCL	+0.0050%	1h	91.491	−0.032%	$68.4M	$41.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.553	+0.036%	$355K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.561	+0.045%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.470	−0.055%	$999K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0068%	8h	91.573	+0.058%	$751	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.520	0.000%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.580	+0.066%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.690	+0.186%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.560	+0.044%	$913	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.574	+0.059%	$4	—	10x	as long as short
Phoenix CRCL	+0.0183%	1h	91.480	−0.044%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0188%	1h	91.535	+0.017%	$130K	$104K	3x	as long as short
Lighter CRCL	+0.0232%	1h	91.584	+0.070%	$2.9M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0296%	1h	91.590	+0.076%	$4K	$767K	10x	as long as short
edgeX CRCLUSDC	+0.0316%	4h	91.583	+0.068%	$23K	$267K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.200	+0.743%	$5K	$19K	30x	as long as short