Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0002%/8h= −0.2% APRpaid last 24h −0.019%

Price spread now: Extended against Binance+0.004%7-day average −0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$240.243% of the position

Long on Binance Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 7 days−0.056%−$6 · spread now +0.004%, 7d avg −0.040%

Together, before fees−0.028%+ Points / potential airdropExtended: Active · farm board−$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.044% dearer against Binance than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CRCLUSDT	92.690	0.0322	pay 0.0322% / 8h	7h 02m	$106.8M	$378.0M	50x
Short	Extended CRCL_24_5-USD	92.694	0.0320	get 0.0040% / 1h	2m 16s	$1.1M	$5.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$0.44
Price spread: +0.004% → −0.040%: $4.39
Slippage, 4 orders: −$9.27
Fee Binance: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$20.32
Costs to cover: 0.243%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; Extended: 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 Binance live order book, 11 min ago	0.54 bp	7.0 bp −$7	11.3 bp −$113	37.3 bp −$3,728	207.1 bp −$103.6K
Sell Extended live order book, 2 min ago	0.22 bp	5.6 bp −$6	24.7 bp −$247	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
Vest CRCL-USD-PERP	−0.0076%	1h	92.510	−0.194%	—	$31K	25x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.740	+0.054%	$17.9M	$35.1M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.720	+0.032%	$1.0M	$46K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.728	+0.041%	$994K	$2.5M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	92.510	−0.194%	$899K	$673K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	92.692	+0.002%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.730	+0.043%	$97K	$270K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.628	−0.067%	$68.0M	$42.7M	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.620	−0.076%	$1.1M	$4.3M	10x	as long as short
QFEX CRCL-USD	+0.0065%	1h	92.740	+0.054%	$1.4M	$1.7M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CRCL_USDT	+0.0069%	8h	92.760	+0.076%	$7.4M	$28.0M	50x	as long as short
Polymarket Perps CRCL-USD	+0.0086%	1h	92.715	+0.027%	$381K	$964K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.730	+0.043%	$136K	$140K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.730	+0.043%	$2.7M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.710	+0.022%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.710	+0.022%	$924	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.690	0.000%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0171%	8h	92.696	+0.006%	$426	$766	5x	as long as short
Bybit CRCLUSDT	+0.0185%	8h	92.680	−0.011%	$15.1M	$26.2M	50x	as long as short
Lighter CRCL	+0.0208%	1h	92.700	+0.011%	$3.0M	$2.2M	10x	as long as short
Variational Omni CRCL	+0.0254%	8h	92.860	+0.183%	$2.4M	$3.2M	—	as long as short
Phoenix CRCL	+0.0254%	1h	92.745	+0.059%	$27K	$66K	10x	as long as short
Aster CRCLUSDT	+0.0309%	8h	92.700	+0.011%	$1.1M	$5.0M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0313%	8h	92.710	+0.022%	$22.6M	$59.7M	50x	as long as short
Extended CRCL_24_5-USDshort	+0.0320%	1h	92.694	+0.004%	$1.1M	$5.0M	10x
Binance CRCLUSDTlong	+0.0322%	8h	92.690	long leg	$106.8M	$378.0M	50x
Nado CRCL-PERP	+0.0363%	1h	92.674	−0.017%	$149K	$111K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.000	−0.744%	$39K	$172K	30x	as long as short
BloFin CRCL-USDT	+0.0441%	8h	92.760	+0.076%	$1.1M	$1.7M	20x	as long as short
RISEx CRCL/USDC	+0.0501%	1h	92.770	+0.086%	$415K	$255K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0614%	1h	92.660	−0.032%	$5K	$641K	10x	as long as short
SoDEX CRCL-USD	+0.0713%	1h	92.680	−0.011%	$46K	$3K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0771%	8h	92.761	+0.077%	$70K	$1.1M	10x	as long as short
edgeX CRCLUSDC	+0.0825%	4h	92.817	+0.137%	$53K	$269K	10x	as long as short