Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0711%/8h= −77.8% APRpaid last 24h −0.117%

Price spread now: KuCoin against edgeX+0.041%68s7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$179as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1161.164% of the position

Long on edgeX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.622%−$62 on $10k

Price spread, last 4 days (all we have)−0.624%−$62 · spread now +0.041%, 7d avg −0.004%

Together, before fees−1.246%+ Points / potential airdropedgeX: Active · farm board−$125 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.045% dearer against edgeX than usual: you sell high and buy low (spread +0.041% now, against its 7-day average of −0.004%): +$5 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.622% in total) that is about 12 hours. The two prices were read 68 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CRCLUSDC	91.882	0.0811	pay 0.0405% / 4h	2h 18m	$23K	$267K	10x
Short	KuCoin CRCLUSDTM	91.920	0.0100	get 0.0100% / 8h	6h 18m	$2.9M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against edgeX. 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 edgeXbpFee KuCoinbpOrdersPrice spread, now +0.041%Rate

Funding earned: −$149.26
Price spread: +0.041% → −0.004%: $4.52
Slippage, 4 orders: −$95.44
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$261.18
Costs to cover: 1.164%
Break-even: never at this rate

Slippage from edgeX: live order book, 49 min ago; KuCoin: live order book, 4 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 edgeX live order book, 49 min ago	6.38 bp	11.6 bp −$12	22.8 bp −$228	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	1.63 bp	34.7 bp −$35	doesn't fit	doesn't fit	doesn't fit

CRCL on 33 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	−0.0787%	8h	92.030	+0.161%	$15.9M	$35.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0037%	1h	91.640	−0.264%	—	$40K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.700	−0.199%	$913K	$580K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.940	+0.063%	$15.0M	$25.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.850	−0.035%	$419K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.950	+0.074%	$7.1M	$26.8M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.938	+0.060%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.906	+0.025%	$63K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.840	−0.046%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0024%	1h	91.867	−0.017%	$2K	$23K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	91.889	+0.007%	$973K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.800	−0.090%	$93K	$273K	10x	as long as short
Extended CRCL_24_5-USD	+0.0048%	1h	91.851	−0.034%	$1.1M	$5.7M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.857	−0.028%	$69.0M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.843	−0.043%	$355K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.790	−0.101%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.730	−0.166%	$999K	$5.5M	10x	as long as short
Binance CRCLUSDT	+0.0051%	8h	91.920	+0.041%	$104.9M	$393.9M	50x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.850	−0.035%	$1.3M	$2.3M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0059%	8h	91.970	+0.095%	$21.8M	$60.3M	50x	as long as short
Aster CRCLUSDT	+0.0059%	8h	91.875	−0.009%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0074%	8h	91.825	−0.063%	$753	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.860	−0.025%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTMshort	+0.0100%	8h	91.920	+0.041%	$2.9M	$1.9M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	91.820	−0.068%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.890	+0.008%	$916	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.898	+0.017%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0153%	1h	91.774	−0.118%	$130K	$103K	3x	as long as short
Lighter CRCL	+0.0200%	1h	91.898	+0.017%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	91.850	−0.035%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.500	+0.672%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0512%	1h	91.920	+0.041%	$4K	$769K	10x	as long as short
edgeX CRCLUSDClong	+0.0811%	4h	91.882	long leg	$23K	$267K	10x