Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.027%

Price spread now: Arcus against Binance+0.306%7-day average −0.050% · 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−$3as in the Price arb table

costs, in and out, $10k−$390.390% of the position

Long on Binance Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.080%+$8 on $10k

Price spread, last 4 days (all we have)−0.199%−$20 · spread now +0.306%, 7d avg −0.050%

Together, before fees−0.119%−$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Arcus is 0.355% dearer against Binance than usual: you sell high and buy low: +$36 more if the spread goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CRCLUSDT	91.650	0	get 0.0000% / 8h	4h 41m	$104.5M	$387.9M	50x
Short	Arcus CRCL-USD	91.930	0.0040	get 0.0005% / 1h	41m 34s	$93K	$273K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Binance. 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 BinancebpFee ArcusbpOrdersPrice spread, now +0.306%Rate

Funding earned: $8.46
Price spread: +0.306% → −0.050%: $35.51
Slippage, 4 orders: −$24.46
Fee Binance: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $5.01
Costs to cover: 0.390%
Break-even: 2.9 days

Slippage from Binance: live order book, 2 min ago; Arcus: live order book, 17 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 Binance live order book, 2 min ago	0.55 bp	7.0 bp −$7	11.4 bp −$114	36.8 bp −$3,682	198.9 bp −$99.5K
Sell Arcus live order book, 17 min ago	1.63 bp	11.4 bp −$11	14.3 bp −$143	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	−0.0963%	8h	91.690	+0.044%	$16.2M	$34.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.440	−0.229%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.652	+0.002%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.616	−0.037%	$1.1M	$5.6M	10x	as long as short
Binance CRCLUSDTlong	0.0000%	8h	91.650	long leg	$104.5M	$387.9M	50x
Bybit CRCLUSDT	0.0000%	8h	91.650	0.000%	$14.9M	$26.3M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.649	−0.001%	$418K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.640	−0.011%	$7.2M	$27.0M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.818	+0.183%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.820	+0.185%	$64K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.660	+0.011%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0013%	8h	91.670	+0.022%	$21.9M	$60.6M	50x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.840	+0.207%	$906K	$491K	10x	as long as short
edgeX CRCLUSDC	+0.0023%	4h	91.866	+0.236%	$51K	$275K	10x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.650	0.000%	$1.3M	$2.0M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0029%	1h	91.778	+0.140%	$2K	$24K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.653	+0.003%	$973K	$2.9M	10x	as long as short
Arcus CRCL-USDshort	+0.0040%	1h	91.930	+0.306%	$93K	$273K	10x
tradeXYZ xyz:CRCL	+0.0050%	1h	91.576	−0.081%	$68.3M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.609	−0.045%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.670	+0.022%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.750	+0.109%	$992K	$5.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0087%	8h	91.626	−0.026%	$421	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.612	−0.041%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.610	−0.044%	$2.7M	$2.0M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.740	+0.098%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.710	+0.065%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.692	+0.046%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.880	+0.251%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.817	+0.182%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0192%	1h	91.694	+0.048%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0303%	1h	91.574	−0.083%	$130K	$104K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.330	+0.742%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0623%	1h	91.700	+0.055%	$4K	$767K	10x	as long as short