Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0053%/8h= −5.8% APRpaid last 24h −0.025%

Price spread now: Coinbase International against Binance−0.174%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$320.323% of the position

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 2 days (all we have)+0.153%+$15 · spread now −0.174%, 7d avg −0.049%

Together, before fees+0.207%+$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Coinbase International is 0.125% cheaper against Binance than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.049%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.054%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CRCLUSDT	92.000	0.0045	pay 0.0045% / 8h	6h 03m	$104.8M	$388.0M	50x
Short	Coinbase International CRCL-PERP-INTX	91.840	−0.0008	pay 0.0001% / 1h	3m 48s	$906K	$564K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.174%Rate

Funding earned: −$11.04
Price spread: −0.174% → −0.049%: −$12.45
Slippage, 4 orders: −$12.25
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$55.75
Costs to cover: 0.323%
Break-even: never at this rate

Slippage from Binance: live order book, 10 min ago; Coinbase International: live order book, 65 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, 10 min ago	0.54 bp	6.6 bp −$7	8.7 bp −$87	30.2 bp −$3,015	181.5 bp −$90.7K
Sell Coinbase International live order book, 65 min ago	1.06 bp	13.5 bp −$13	21.8 bp −$218	doesn't fit	doesn't fit

CRCL on 33 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	−0.0951%	8h	92.040	+0.043%	$15.9M	$35.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0061%	1h	91.790	−0.228%	—	$40K	25x	as long as short
Gate CRCL_USDT	−0.0046%	8h	92.030	+0.033%	$7.1M	$26.9M	50x	as long as short
Coinbase International CRCL-PERP-INTXshort	−0.0008%	1h	91.840	−0.174%	$906K	$564K	10x
Bybit CRCLUSDT	0.0000%	8h	92.040	+0.043%	$15.0M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.050	+0.054%	$420K	$298K	10x	as long as short
Variational Omni CRCL	0.0000%	8h	91.989	−0.012%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.823	−0.192%	$63K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.970	−0.033%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0023%	1h	91.936	−0.069%	$2K	$23K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	92.033	+0.036%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.940	−0.065%	$93K	$269K	10x	as long as short
Binance CRCLUSDTlong	+0.0045%	8h	92.000	long leg	$104.8M	$388.0M	50x
OKX CRCL-USDT-SWAP	+0.0046%	8h	92.030	+0.033%	$21.8M	$59.4M	50x	as long as short
Extended CRCL_24_5-USD	+0.0048%	1h	91.968	−0.035%	$1.1M	$5.7M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.953	−0.051%	$69.0M	$41.0M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.010	+0.011%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.973	−0.029%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.950	−0.054%	$1.0M	$5.3M	10x	as long as short
Aster CRCLUSDT	+0.0055%	8h	92.006	+0.007%	$1.1M	$4.9M	20x	as long as short
QFEX CRCL-USD	+0.0057%	1h	92.030	+0.033%	$1.3M	$2.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0071%	8h	92.023	+0.025%	$755	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.985	−0.016%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.030	+0.033%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.930	−0.076%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.020	+0.022%	$917	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.004	+0.004%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0164%	1h	92.011	+0.012%	$131K	$104K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0185%	1h	92.040	+0.043%	$4K	$769K	10x	as long as short
Lighter CRCL	+0.0208%	1h	92.043	+0.047%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	91.910	−0.098%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.260	+0.283%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0966%	4h	91.955	−0.049%	$23K	$267K	10x	as long as short