Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.023%

Price spread now: SoDEX against Gate−0.078%52s7-day average — · you buy dearer than you sell

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

Long on Gate Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. SoDEX is 0.078% cheaper against Gate than usual: you would sell low and buy high (spread −0.078% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 5.2 days of funding at the current rate (+$2 a day). The two prices were read 52 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	Gate CRCL_USDT	91.900	0	get 0.0000% / 8h	3h 22m	$7.3M	$27.4M	50x
Short	SoDEX CRCL-USD	91.828	0.0050	get 0.0006% / 1h	22m 26s	$46K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.078%Rate

Funding earned: $10.5
Price spread: −0.078% → 0.000%: −$7.83
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$20.33
Costs to cover: 0.230%
Break-even: 20.6 days

Slippage unknown: Gate: live order book, 1 min ago; SoDEX: 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	2.18 bp	10.8 bp −$11	22.9 bp −$229	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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 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	−0.0696%	8h	91.900	0.000%	$16.6M	$35.8M	25x	as long as short
Vest CRCL-USD-PERP	−0.0061%	1h	91.570	−0.359%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.820	−0.087%	$14.8M	$26.6M	50x	as long as short
Gate CRCL_USDTlong	0.0000%	8h	91.900	long leg	$7.3M	$27.4M	50x
Variational Omni CRCL	0.0000%	8h	91.918	+0.020%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.840	−0.065%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0016%	8h	91.781	−0.129%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0024%	8h	91.783	−0.127%	$104.6M	$392.4M	50x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.770	−0.141%	$1.2M	$5.7M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.791	−0.119%	$973K	$2.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0039%	1h	91.814	−0.093%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.810	−0.098%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.730	−0.185%	$905K	$514K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.756	−0.157%	$68.2M	$41.9M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.789	−0.121%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USDshort	+0.0050%	1h	91.828	−0.078%	$46K	$3K	10x
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.720	−0.196%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.770	−0.141%	$1.3M	$1.9M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0061%	8h	91.741	−0.173%	$422	$905	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0092%	8h	91.860	−0.044%	$22.3M	$61.7M	50x	as long as short
GRVT CRCL_USDT_Perp	+0.0096%	8h	91.880	−0.022%	$70K	$1.1M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.754	−0.158%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.830	−0.076%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.980	+0.087%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.770	−0.141%	$915	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.814	−0.093%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.795	−0.114%	$418K	$299K	10x	as long as short
BloFin CRCL-USDT	+0.0110%	8h	91.840	−0.065%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0182%	1h	91.950	+0.054%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0272%	1h	91.771	−0.140%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0355%	1h	91.745	−0.168%	$134K	$108K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0404%	1h	91.820	−0.087%	$4K	$768K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.480	+0.631%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0944%	4h	92.023	+0.134%	$51K	$275K	10x	as long as short