Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0340%/8h= +37.2% APRpaid last 24h +0.089%

Price spread now: Injective against KuCoin+0.534%7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.542%+$54 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Injective is 0.534% dearer against KuCoin than usual: you sell high and buy low: +$53 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CRCLUSDTM	91.720	0.0100	pay 0.0100% / 8h	1h 13m	$2.7M	$1.7M	20x
Short	Injective CRCL/USDC PERP	92.210	0.0440	get 0.0055% / 1h	13m 03s	$5K	$19K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.534%Rate

Funding earned: $71.4
Price spread: +0.534% → 0.000%: $53.42
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $112.8
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 4 min ago; Injective: 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 KuCoin live order book, 4 min ago	1.09 bp	60.3 bp −$60	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0485%	8h	91.840	+0.131%	$17.6M	$37.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0082%	1h	91.480	−0.262%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.810	+0.098%	$14.7M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.850	+0.142%	$7.8M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.760	+0.044%	$1.0M	$48K	10x	as long as short
Variational Omni CRCL	+0.0032%	8h	91.749	+0.032%	$2.4M	$3.2M	—	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.679	−0.045%	$2K	$28K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.700	−0.022%	$94K	$292K	10x	as long as short
Lighter RH CRCL	+0.0048%	1h	91.800	+0.087%	$981K	$2.7M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.768	+0.052%	$46K	$3K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.670	−0.055%	$1.1M	$5.3M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0056%	1h	91.790	+0.076%	$894K	$454K	10x	as long as short
QFEX CRCL-USD	+0.0068%	1h	91.750	+0.033%	$1.3M	$1.8M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.757	+0.041%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTMlong	+0.0100%	8h	91.720	long leg	$2.7M	$1.7M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	91.650	−0.076%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.760	+0.044%	$915	$2K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0103%	1h	91.729	+0.010%	$67.9M	$44.5M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.790	+0.077%	$4	—	10x	as long as short
Aster CRCLUSDT	+0.0117%	8h	91.775	+0.060%	$1.0M	$5.1M	20x	as long as short
Extended CRCL_24_5-USD	+0.0128%	1h	91.783	+0.069%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0130%	8h	91.810	+0.098%	$105.0M	$397.7M	50x	as long as short
Polymarket Perps CRCL-USD	+0.0141%	1h	91.756	+0.039%	$384K	$1.3M	10x	as long as short
edgeX CRCLUSDC	+0.0144%	4h	91.739	+0.021%	$52K	$278K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0177%	8h	91.729	+0.010%	$422	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0210%	8h	91.769	+0.054%	$64K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0219%	8h	91.810	+0.098%	$22.3M	$62.7M	50x	as long as short
Phoenix CRCL	+0.0245%	1h	91.694	−0.028%	$27K	$82K	10x	as long as short
BloFin CRCL-USDT	+0.0250%	8h	91.780	+0.065%	$1.1M	$1.7M	20x	as long as short
RISEx CRCL/USDC	+0.0271%	1h	91.780	+0.065%	$418K	$267K	10x	as long as short
Lighter CRCL	+0.0312%	1h	91.798	+0.085%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0419%	1h	91.676	−0.048%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERPshort	+0.0440%	1h	92.210	+0.534%	$5K	$19K	30x
Deribit CRCL_USDC-PERPETUAL	+0.0841%	1h	91.770	+0.055%	$5K	$769K	10x	as long as short