Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0060%/8h= −6.5% APRpaid last 24h +0.035%

Price spread now: Arcus against KuCoin−0.044%7-day average −0.058% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$106as in the Price arb table

costs, in and out, $10k−$1081.077% of the position

Long on KuCoin Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.057%+$6 on $10k

Price spread, last 4 days (all we have)−0.082%−$8 · spread now −0.044%, 7d avg −0.058%

Together, before fees−0.025%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.058%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair paid +0.057%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CRCLUSDTM	91.640	0.0100	pay 0.0100% / 8h	2h 01m	$2.7M	$1.8M	20x
Short	Arcus CRCL-USD	91.600	0.0040	get 0.0005% / 1h	1m 10s	$93K	$289K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against KuCoin. 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 KuCoinbpFee ArcusbpOrdersPrice spread, now −0.044%Rate

Funding earned: −$12.54
Price spread: −0.044% → −0.058%: $1.47
Slippage, 4 orders: −$91.17
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$118.73
Costs to cover: 1.077%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Arcus: live order book, 47 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 KuCoin live order book, 6 min ago	1.63 bp	44.9 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 47 min ago	3.82 bp	9.1 bp −$9	13.2 bp −$132	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	−0.0806%	8h	91.790	+0.164%	$17.5M	$37.1M	25x	as long as short
Vest CRCL-USD-PERP	−0.0083%	1h	91.420	−0.240%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.720	+0.087%	$14.7M	$26.8M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.760	+0.131%	$7.8M	$27.9M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.719	+0.086%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.700	+0.065%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.721	+0.088%	$979K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	91.572	−0.074%	$2K	$27K	5x	as long as short
Arcus CRCL-USDshort	+0.0040%	1h	91.600	−0.044%	$93K	$289K	10x
Aster CRCLUSDT	+0.0049%	8h	91.620	−0.022%	$1.0M	$5.1M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX CRCL-USD	+0.0050%	1h	91.707	+0.073%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.490	−0.164%	$1.1M	$5.2M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	91.700	+0.065%	$1.3M	$1.8M	10x	as long as short
Binance CRCLUSDT	+0.0064%	8h	91.723	+0.090%	$104.9M	$397.8M	50x	as long as short
Extended CRCL_24_5-USD	+0.0064%	1h	91.699	+0.064%	$1.0M	$5.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0066%	1h	91.693	+0.058%	$384K	$1.3M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	91.470	−0.186%	$891K	$605K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0086%	1h	91.668	+0.031%	$67.9M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.680	+0.044%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTMlong	+0.0100%	8h	91.640	long leg	$2.7M	$1.8M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	91.550	−0.098%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.700	+0.065%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.717	+0.084%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	91.705	+0.071%	$418K	$277K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0155%	8h	91.687	+0.052%	$422	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0155%	8h	91.635	−0.005%	$65K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0163%	8h	91.740	+0.109%	$22.3M	$62.8M	50x	as long as short
BloFin CRCL-USDT	+0.0184%	8h	91.750	+0.120%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0210%	1h	91.654	+0.015%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0288%	1h	91.723	+0.091%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0345%	1h	91.628	−0.013%	$134K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.150	+0.557%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0732%	1h	91.700	+0.065%	$5K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0761%	4h	91.595	−0.049%	$52K	$278K	10x	as long as short