Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.044%

Price spread now: Arcus against Bybit−0.174%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−$53as in the Price arb table

costs, in and out, $10k−$450.447% of the position

Long on Bybit Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.048%+$5 on $10k

Price spread, last 4 days (all we have)−0.287%−$29 · spread now −0.174%, 7d avg −0.088%

Together, before fees−0.239%−$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.086% cheaper against Bybit than usual: you would sell low and buy high (spread −0.174% now, against its 7-day average of −0.088%). If the spread goes back, that is −$9 on $10k: about 7.1 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CRCLUSDT	91.910	0	get 0.0000% / 8h	4h 23m	$14.9M	$26.4M	50x
Short	Arcus CRCL-USD	91.750	0.0040	get 0.0005% / 1h	23m 18s	$93K	$273K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bybit. 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 BybitbpFee ArcusbpOrdersPrice spread, now −0.174%Rate

Funding earned: $8.46
Price spread: −0.174% → −0.088%: −$8.61
Slippage, 4 orders: −$29.25
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$44.9
Costs to cover: 0.447%
Break-even: 44.2 days

Slippage from Bybit: live order book, just now; Arcus: live order book, 35 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 Bybit live order book, just now	0.54 bp	9.1 bp −$9	23.3 bp −$233	doesn't fit	doesn't fit
Sell Arcus live order book, 35 min ago	1.63 bp	11.4 bp −$11	14.3 bp −$143	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 CRCLUSDT	−0.1021%	8h	91.900	−0.011%	$16.4M	$35.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0068%	1h	91.550	−0.392%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.840	−0.076%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.887	−0.025%	$1.1M	$5.6M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.901	−0.010%	$104.5M	$389.5M	50x	as long as short
Bybit CRCLUSDTlong	0.0000%	8h	91.910	long leg	$14.9M	$26.4M	50x
RISEx CRCL/USDC	0.0000%	1h	91.819	−0.100%	$417K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.960	+0.054%	$7.3M	$27.2M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.818	−0.100%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.726	−0.200%	$65K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.820	−0.098%	$1.0M	$49K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.790	−0.131%	$906K	$490K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0020%	8h	91.970	+0.065%	$22.1M	$61.1M	50x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.800	−0.120%	$1.3M	$2.0M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.819	−0.099%	$973K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0032%	1h	91.770	−0.152%	$2K	$25K	5x	as long as short
Arcus CRCL-USDshort	+0.0040%	1h	91.750	−0.174%	$93K	$273K	10x
tradeXYZ xyz:CRCL	+0.0050%	1h	91.855	−0.060%	$68.5M	$41.6M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.809	−0.110%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.849	−0.066%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.720	−0.207%	$1.0M	$5.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0092%	8h	91.777	−0.145%	$422	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.750	−0.174%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.770	−0.152%	$2.7M	$2.0M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.730	−0.196%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.890	−0.022%	$916	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.921	+0.012%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.910	0.000%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.779	−0.143%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0168%	1h	91.817	−0.101%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0290%	1h	91.729	−0.197%	$130K	$104K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.270	+0.392%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0621%	1h	91.910	0.000%	$4K	$767K	10x	as long as short
edgeX CRCLUSDC	+0.1000%	4h	91.855	−0.060%	$51K	$275K	10x	as long as short