Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0080%/8h= +8.8% APRpaid last 24h +0.108%

Price spread now: edgeX against KuCoin+0.075%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$1191.191% of the position

Long on KuCoin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.613%+$61 on $10k

Price spread, last 4 days (all we have)+0.395%+$39 · spread now +0.075%, 7d avg +0.004%

Together, before fees+1.008%+ Points / potential airdropedgeX: Active · farm board+$101 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and edgeX is 0.071% dearer against KuCoin than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CRCLUSDTM	91.600	0.0100	pay 0.0100% / 8h	5h 26m	$2.8M	$1.9M	20x
Short	edgeX CRCLUSDC	91.668	0.0180	get 0.0090% / 4h	1h 26m	$23K	$248K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.075%Rate

Funding earned: $16.83
Price spread: +0.075% → +0.004%: $7.09
Slippage, 4 orders: −$98.14
Fee KuCoin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$95.21
Costs to cover: 1.191%
Break-even: 46.6 days

Slippage from KuCoin: live order book, 10 min ago; edgeX: live order book, 36 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, 10 min ago	1.09 bp	61.4 bp −$61	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 36 min ago	5.98 bp	11.4 bp −$11	23.5 bp −$235	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	−0.1306%	8h	91.640	+0.044%	$15.8M	$34.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0076%	1h	91.360	−0.262%	—	$35K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.690	+0.098%	$905K	$519K	10x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.565	−0.038%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.571	−0.032%	$104.5M	$385.0M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.640	+0.044%	$15.0M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.614	+0.015%	$418K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.610	+0.011%	$7.1M	$26.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.746	+0.160%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.701	+0.111%	$65K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.600	0.000%	$1.0M	$49K	10x	as long as short
Aster CRCLUSDT	+0.0001%	8h	91.628	+0.030%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0008%	8h	91.590	−0.011%	$21.5M	$59.4M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0019%	1h	91.609	+0.010%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.570	−0.033%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.633	+0.036%	$973K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.610	+0.011%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.596	−0.004%	$68.4M	$41.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.560	−0.044%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.561	−0.043%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.610	+0.011%	$970K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0069%	8h	91.636	+0.040%	$751	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.580	−0.022%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTMlong	+0.0100%	8h	91.600	long leg	$2.8M	$1.9M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	91.820	+0.240%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.570	−0.033%	$913	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.584	−0.017%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.610	+0.011%	$1.1M	$1.3M	20x	as long as short
edgeX CRCLUSDCshort	+0.0180%	4h	91.668	+0.075%	$23K	$248K	10x
Phoenix CRCL	+0.0183%	1h	91.684	+0.092%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0188%	1h	91.565	−0.039%	$130K	$104K	3x	as long as short
Lighter CRCL	+0.0208%	1h	91.618	+0.020%	$3.0M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.130	+0.579%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0515%	1h	91.620	+0.022%	$4K	$767K	10x	as long as short