Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0022%/8h= +2.4% APRpaid last 24h −0.036%

Price spread now: Ondo Perps against Binance+0.099%7-day average −0.149% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.142%−$14 on $10k

Price spread, last 7 days−0.364%−$36 · spread now +0.099%, 7d avg −0.149%

Together, before fees−0.506%+ Points / potential airdropOndo Perps: Active · farm board−$51 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 Ondo Perps is 0.248% dearer against Binance than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of −0.149%. Mind the row above: over the last 7 days funding on this pair cost −0.142%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CRCLUSDT	91.859	0.0029	pay 0.0029% / 8h	3h 24m	$104.7M	$392.4M	50x
Short	Ondo Perps CRCL-USD.P	91.950	0.0050	get 0.0006% / 1h	24m 42s	$1.0M	$5.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now +0.099%Rate

Funding earned: $4.56
Price spread: +0.099% → −0.149%: $24.79
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $14.34
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Binance: live order book, 4 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 4 min ago	0.54 bp	7.4 bp −$7	12.4 bp −$124	34.2 bp −$3,415	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0690%	8h	91.870	+0.012%	$16.6M	$35.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0062%	1h	91.610	−0.271%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.840	−0.021%	$14.9M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.910	+0.056%	$7.3M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.918	+0.064%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.880	+0.023%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0021%	8h	91.904	+0.049%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDTlong	+0.0029%	8h	91.859	long leg	$104.7M	$392.4M	50x
Lighter RH CRCL	+0.0032%	1h	91.856	−0.003%	$974K	$2.9M	10x	as long as short
Extended CRCL_24_5-USD	+0.0032%	1h	91.827	−0.035%	$1.2M	$5.7M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0040%	1h	91.876	+0.019%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.880	+0.023%	$93K	$273K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.730	−0.140%	$905K	$509K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.774	−0.092%	$68.2M	$41.9M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.769	−0.098%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.816	−0.047%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.Pshort	+0.0050%	1h	91.950	+0.099%	$1.0M	$5.2M	10x
QFEX CRCL-USD	+0.0060%	1h	91.880	+0.023%	$1.3M	$1.9M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0061%	8h	91.791	−0.074%	$422	$905	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0095%	8h	91.860	+0.001%	$22.3M	$61.7M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.840	−0.020%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.860	+0.001%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.980	+0.132%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.840	−0.021%	$916	$2K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0101%	8h	92.040	+0.197%	$70K	$1.1M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.803	−0.061%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.881	+0.024%	$418K	$300K	10x	as long as short
BloFin CRCL-USDT	+0.0126%	8h	91.840	−0.021%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0182%	1h	91.950	+0.099%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0280%	1h	91.861	+0.002%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0359%	1h	91.726	−0.144%	$133K	$107K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.480	+0.676%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0731%	1h	91.810	−0.053%	$4K	$768K	10x	as long as short
edgeX CRCLUSDC	+0.0944%	4h	92.023	+0.178%	$51K	$275K	10x	as long as short