Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +11.0% APRpaid last 24h −0.033%

Price spread now: Ondo Perps against Gate+0.022%7-day average −0.185% · you sell dearer than you buy

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

Long on Gate Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.158%−$16 on $10k

Price spread, last 7 days−0.306%−$31 · spread now +0.022%, 7d avg −0.185%

Together, before fees−0.464%+ Points / potential airdropOndo Perps: Active · farm board−$46 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Ondo Perps is 0.207% dearer against Gate than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of −0.185%. Mind the row above: over the last 7 days funding on this pair cost −0.158%, 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	Gate CRCL_USDT	91.930	−0.0050	get 0.0050% / 8h	6h 02m	$7.1M	$26.9M	50x
Short	Ondo Perps CRCL-USD.P	91.950	0.0050	get 0.0006% / 1h	2m 46s	$1.0M	$5.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now +0.022%Rate

Funding earned: $21.08
Price spread: +0.022% → −0.185%: $20.68
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $21.76
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Gate: live order book, 1 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 Gate live order book, 1 min ago	2.17 bp	15.8 bp −$16	22.7 bp −$227	doesn't fit	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 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	−0.0963%	8h	91.970	+0.044%	$15.9M	$34.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0062%	1h	91.770	−0.174%	—	$40K	25x	as long as short
Gate CRCL_USDTlong	−0.0050%	8h	91.930	long leg	$7.1M	$26.9M	50x
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.840	−0.098%	$906K	$564K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.930	0.000%	$15.0M	$25.7M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.896	−0.037%	$420K	$298K	10x	as long as short
Variational Omni CRCL	0.0000%	8h	91.989	+0.064%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	92.022	+0.100%	$63K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.940	+0.011%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0023%	1h	91.958	+0.031%	$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	91.925	−0.005%	$973K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.930	0.000%	$93K	$269K	10x	as long as short
Binance CRCLUSDT	+0.0044%	8h	91.884	−0.050%	$104.6M	$387.7M	50x	as long as short
OKX CRCL-USDT-SWAP	+0.0045%	8h	91.930	0.000%	$21.7M	$59.3M	50x	as long as short
Extended CRCL_24_5-USD	+0.0048%	1h	91.864	−0.072%	$1.1M	$5.7M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.844	−0.094%	$68.9M	$41.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.948	+0.020%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.952	+0.024%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.Pshort	+0.0050%	1h	91.950	+0.022%	$1.0M	$5.3M	10x
Aster CRCLUSDT	+0.0054%	8h	91.901	−0.031%	$1.1M	$4.9M	20x	as long as short
QFEX CRCL-USD	+0.0057%	1h	92.010	+0.087%	$1.3M	$2.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0071%	8h	91.897	−0.036%	$754	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.880	−0.054%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.960	+0.033%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.930	0.000%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.980	+0.054%	$917	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.965	+0.038%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0166%	1h	91.893	−0.041%	$131K	$104K	3x	as long as short
Lighter CRCL	+0.0216%	1h	91.931	+0.001%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	92.028	+0.107%	$27K	$92K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0294%	1h	91.980	+0.054%	$4K	$769K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.260	+0.359%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0966%	4h	91.955	+0.027%	$23K	$267K	10x	as long as short