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 −0.022%

Price spread now: tradeXYZ against Gate−0.152%7-day average −0.098% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$510.507% of the position

Long on Gate Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.079%−$8 on $10k

Price spread, last 7 days+0.039%+$4 · spread now −0.152%, 7d avg −0.098%

Together, before fees−0.040%+ Points / potential airdroptradeXYZ: Active · farm board−$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.054% cheaper against Gate than usual: you would sell low and buy high (spread −0.152% now, against its 7-day average of −0.098%). If the spread goes back, that is −$5 on $10k: about 3.6 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.079%, 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	91.970	0	get 0.0000% / 8h	3h 16m	$7.3M	$27.5M	50x
Short	tradeXYZ xyz:CRCL	91.830	0.0050	get 0.0006% / 1h	16m 37s	$68.2M	$42.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.152%Rate

Funding earned: $10.5
Price spread: −0.152% → −0.098%: −$5.45
Slippage, 4 orders: −$17.66
Fee Gate: 7.5 bp × 2 orders: −$15
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$45.61
Costs to cover: 0.507%
Break-even: 37.4 days

Slippage from Gate: live order book, 2 min ago; tradeXYZ: live order book, 13 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, 2 min ago	2.72 bp	11.3 bp −$11	27.5 bp −$275	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 13 min ago	0.92 bp	10.1 bp −$10	doesn't fit	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	−0.0685%	8h	91.940	−0.033%	$16.6M	$35.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0061%	1h	91.670	−0.326%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.900	−0.076%	$14.9M	$26.6M	50x	as long as short
Gate CRCL_USDTlong	0.0000%	8h	91.970	long leg	$7.3M	$27.5M	50x
Variational Omni CRCL	0.0000%	8h	91.999	+0.031%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.960	−0.011%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0019%	8h	91.962	−0.009%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.912	−0.064%	$1.2M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0027%	8h	91.910	−0.065%	$104.7M	$392.5M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.945	−0.027%	$974K	$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	91.900	−0.076%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.870	−0.109%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.770	−0.217%	$911K	$519K	10x	as long as short
tradeXYZ xyz:CRCLshort	+0.0050%	1h	91.830	−0.152%	$68.2M	$42.0M	10x
Polymarket Perps CRCL-USD	+0.0050%	1h	91.880	−0.098%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.934	−0.039%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.840	−0.141%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.920	−0.054%	$1.3M	$1.9M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0070%	8h	91.908	−0.068%	$423	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0087%	8h	92.030	+0.065%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0097%	8h	91.910	−0.065%	$22.3M	$61.8M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.893	−0.084%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.910	−0.065%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.830	−0.152%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.950	−0.022%	$917	$2K	10x	as long as short
BloFin CRCL-USDT	+0.0102%	8h	91.930	−0.043%	$1.1M	$1.6M	20x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.964	−0.007%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.935	−0.038%	$419K	$299K	10x	as long as short
Phoenix CRCL	+0.0182%	1h	91.770	−0.217%	$27K	$82K	10x	as long as short
edgeX CRCLUSDC	+0.0226%	4h	91.934	−0.039%	$51K	$276K	10x	as long as short
Lighter CRCL	+0.0272%	1h	91.913	−0.062%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0356%	1h	91.836	−0.146%	$134K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.424%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0730%	1h	91.950	−0.022%	$4K	$768K	10x	as long as short