Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.027%

Price spread now: Nado against Binance−0.057%7-day average −0.034% · 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−$31as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on Binance Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.107%+$11 on $10k

Price spread, last 2 days (all we have)+0.054%+$5 · spread now −0.057%, 7d avg −0.034%

Together, before fees+0.161%+ Points / potential airdropNado: Active · farm board+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.023% cheaper against Binance than usual: you would sell low and buy high (spread −0.057% now, against its 7-day average of −0.034%). If the spread goes back, that is −$2 on $10k: about 2.4 days of funding at the current rate (+$1 a day). At the pace of the last 3 days (+0.107% in total) that is about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CRCLUSDT	94.413	0.0194	pay 0.0194% / 8h	7h 30m	$109.4M	$386.3M	50x
Short	Nado CRCL-PERP	94.360	0.0226	get 0.0028% / 1h	30m 03s	$132K	$76K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.057%Rate

Funding earned: $6.7
Price spread: −0.057% → −0.034%: −$2.28
Slippage, 4 orders: −$11.26
Fee Binance: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$23.84
Costs to cover: 0.283%
Break-even: 31.9 days

Slippage from Binance: live order book, 14 min ago; Nado: live order book, 42 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, 14 min ago	0.53 bp	7.0 bp −$7	11.8 bp −$118	29.0 bp −$2,898	170.0 bp −$85.0K
Sell Nado live order book, 42 min ago	3.17 bp	7.0 bp −$7	26.8 bp −$268	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
Coinbase International CRCL-PERP-INTX	−0.0064%	1h	94.210	−0.216%	$942K	$622K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	94.420	+0.007%	$15.5M	$25.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.430	+0.017%	$7.2M	$27.0M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.300	−0.120%	$68K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.340	−0.078%	$1.0M	$51K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.412	−0.002%	$889K	$2.8M	10x	as long as short
Bitget CRCLUSDT	+0.0035%	8h	94.450	+0.039%	$17.0M	$34.7M	25x	as long as short
Aftermath Perps CRCLUSD	+0.0042%	1h	94.325	−0.094%	$2K	$22K	5x	as long as short
QFEX CRCL-USD	+0.0042%	1h	94.410	−0.004%	$1.4M	$2.6M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.310	−0.110%	—	$37K	25x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CRCLUSDC	+0.0047%	4h	94.288	−0.133%	$24K	$268K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	94.336	−0.082%	$71.7M	$42.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.402	−0.012%	$366K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.404	−0.010%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.320	−0.099%	$1.0M	$5.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.400	−0.014%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.400	−0.014%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.300	−0.120%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.430	+0.017%	$941	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.433	+0.021%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0105%	8h	94.438	+0.026%	$774	$740	5x	as long as short
Variational Omni CRCL	+0.0127%	8h	94.450	+0.039%	$2.5M	$3.1M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0153%	8h	94.430	+0.017%	$22.8M	$59.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0192%	1h	94.395	−0.020%	$1.1M	$5.9M	10x	as long as short
Binance CRCLUSDTlong	+0.0194%	8h	94.413	long leg	$109.4M	$386.3M	50x
Aster CRCLUSDT	+0.0201%	8h	94.399	−0.016%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERPshort	+0.0226%	1h	94.360	−0.057%	$132K	$76K	3x
Phoenix CRCL	+0.0296%	1h	94.328	−0.091%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0304%	1h	94.436	+0.024%	$3.1M	$2.2M	10x	as long as short
BloFin CRCL-USDT	+0.0314%	8h	94.460	+0.049%	$1.1M	$561K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.890	+0.505%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0492%	1h	94.430	+0.017%	$4K	$769K	10x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.350	−0.067%	$96K	$273K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	94.432	+0.019%	$431K	$299K	10x	as long as short