Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0764%/8h= +83.7% APRpaid last 24h +0.022%

Price spread now: Arcus against Bitget−0.033%7-day average −0.088% · 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−$35as in the Price arb table

costs, in and out, $10k−$410.406% of the position

Long on Bitget Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.073%+$7 on $10k

Price spread, last 4 days (all we have)−0.061%−$6 · spread now −0.033%, 7d avg −0.088%

Together, before fees+0.012%+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$23 a day on $10k at the current rate, and Arcus is 0.055% dearer against Bitget than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.088%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.073% in total (about 7.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CRCLUSDT	91.280	−0.0724	get 0.0724% / 8h	1h 34m	$17.4M	$37.0M	25x
Short	Arcus CRCL-USD	91.250	0.0040	get 0.0005% / 1h	34m 52s	$93K	$289K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bitget. 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 BitgetbpFee ArcusbpOrdersPrice spread, now −0.033%Rate

Funding earned: $160.5
Price spread: −0.033% → −0.088%: $5.52
Slippage, 4 orders: −$24.08
Fee Bitget: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $125.45
Costs to cover: 0.406%
Break-even: 1.5 days

Slippage from Bitget: live order book, 4 min ago; Arcus: live order book, 9 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 Bitget live order book, 4 min ago	1.10 bp	9.0 bp −$9	18.1 bp −$181	42.1 bp −$4,205	doesn't fit
Sell Arcus live order book, 9 min ago	4.38 bp	9.3 bp −$9	11.9 bp −$119	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 CRCLUSDTlong	−0.0724%	8h	91.280	long leg	$17.4M	$37.0M	25x
Vest CRCL-USD-PERP	−0.0086%	1h	90.940	−0.372%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.230	−0.055%	$14.6M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.260	−0.022%	$7.8M	$27.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.259	−0.023%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.240	−0.044%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.232	−0.053%	$975K	$2.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	91.210	−0.077%	$2K	$27K	5x	as long as short
Arcus CRCL-USDshort	+0.0040%	1h	91.250	−0.033%	$93K	$289K	10x
SoDEX CRCL-USD	+0.0050%	1h	91.193	−0.095%	$46K	$3K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.120	−0.175%	$1.1M	$5.2M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0056%	1h	91.200	−0.088%	$888K	$603K	10x	as long as short
QFEX CRCL-USD	+0.0068%	1h	91.230	−0.055%	$1.3M	$1.8M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0081%	1h	91.164	−0.127%	$67.4M	$44.4M	10x	as long as short
Aster CRCLUSDT	+0.0083%	8h	91.249	−0.034%	$1.0M	$5.1M	20x	as long as short
Extended CRCL_24_5-USD	+0.0096%	1h	91.199	−0.089%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0097%	8h	91.226	−0.059%	$104.3M	$397.5M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.210	−0.077%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.220	−0.066%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.190	−0.099%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.210	−0.077%	$909	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.208	−0.079%	$4	—	10x	as long as short
Polymarket Perps CRCL-USD	+0.0134%	1h	91.213	−0.073%	$382K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0163%	8h	91.212	−0.075%	$420	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0189%	8h	91.330	+0.055%	$67K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0193%	8h	91.240	−0.044%	$22.2M	$62.5M	50x	as long as short
BloFin CRCL-USDT	+0.0217%	8h	91.260	−0.022%	$1.1M	$1.7M	20x	as long as short
Phoenix CRCL	+0.0245%	1h	91.175	−0.115%	$27K	$82K	10x	as long as short
RISEx CRCL/USDC	+0.0271%	1h	91.220	−0.066%	$415K	$268K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0298%	1h	91.210	−0.077%	$5K	$769K	10x	as long as short
Lighter CRCL	+0.0304%	1h	91.241	−0.043%	$2.9M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0420%	1h	91.162	−0.129%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.810	+0.581%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0904%	4h	91.319	+0.043%	$52K	$277K	10x	as long as short