Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0227%/8h= +24.8% APRpaid last 24h +0.029%

Price spread now: Nado against Gate+0.003%7-day average −0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$450.454% of the position

Long on Gate Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.133%+$13 on $10k

Price spread, last 4 days (all we have)+0.214%+$21 · spread now +0.003%, 7d avg −0.030%

Together, before fees+0.347%+ Points / potential airdropNado: Active · farm board+$35 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Nado is 0.033% dearer against Gate than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CRCL_USDT	91.740	−0.0057	get 0.0057% / 8h	6h 00m	$7.1M	$27.0M	50x
Short	Nado CRCL-PERP	91.743	0.0170	get 0.0021% / 1h	0m 47s	$131K	$104K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Gate. 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 GatebpFee NadobpOrdersPrice spread, now +0.003%Rate

Funding earned: $47.57
Price spread: +0.003% → −0.030%: $3.34
Slippage, 4 orders: −$23.38
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $5.52
Costs to cover: 0.454%
Break-even: 6.2 days

Slippage from Gate: live order book, 3 min ago; Nado: live order book, 2 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 Gate live order book, 3 min ago	2.17 bp	15.8 bp −$16	22.7 bp −$227	doesn't fit	doesn't fit
Sell Nado live order book, 2 min ago	3.81 bp	7.5 bp −$7	25.2 bp −$252	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	−0.0971%	8h	91.810	+0.076%	$15.8M	$34.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0065%	1h	91.620	−0.131%	—	$40K	25x	as long as short
Gate CRCL_USDTlong	−0.0057%	8h	91.740	long leg	$7.1M	$27.0M	50x
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.840	+0.109%	$906K	$552K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.790	+0.055%	$15.0M	$25.6M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.877	+0.149%	$420K	$297K	10x	as long as short
Variational Omni CRCL	0.0000%	8h	91.759	+0.021%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.980	+0.262%	$63K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.810	+0.076%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0023%	1h	91.876	+0.148%	$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	91.756	+0.017%	$972K	$2.9M	10x	as long as short
Extended CRCL_24_5-USD	+0.0040%	1h	91.704	−0.039%	$1.1M	$5.7M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.920	+0.196%	$93K	$269K	10x	as long as short
Binance CRCLUSDT	+0.0043%	8h	91.750	+0.011%	$104.5M	$387.5M	50x	as long as short
OKX CRCL-USDT-SWAP	+0.0044%	8h	91.760	+0.022%	$21.7M	$58.8M	50x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.710	−0.033%	$68.8M	$41.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.757	+0.019%	$355K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.760	+0.022%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.750	+0.011%	$1.0M	$5.3M	10x	as long as short
Aster CRCLUSDT	+0.0051%	8h	91.764	+0.026%	$1.1M	$4.9M	20x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.840	+0.109%	$1.3M	$2.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0071%	8h	91.769	+0.032%	$753	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.765	+0.027%	$132K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.790	+0.055%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.910	+0.185%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.740	0.000%	$915	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.737	−0.003%	$4	—	10x	as long as short
Nado CRCL-PERPshort	+0.0170%	1h	91.743	+0.003%	$131K	$104K	3x
Lighter CRCL	+0.0208%	1h	91.793	+0.058%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	92.028	+0.314%	$27K	$92K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0404%	1h	91.760	+0.022%	$4K	$769K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.370	+0.687%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0786%	4h	91.980	+0.262%	$23K	$268K	10x	as long as short