Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0205%/8h= +22.4% APRpaid last 24h +0.034%

Price spread now: Nado against KuCoin−0.071%51s7-day average −0.014% · 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—prices read too far apart to compare

costs, in and out, $10k−$970.971% of the position

Long on KuCoin Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.109%+$11 on $10k

Price spread, last 4 days (all we have)+0.095%+$10 · spread now −0.071%, 7d avg −0.014%

Together, before fees+0.204%+ Points / potential airdropNado: Active · farm board+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.057% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.071% now, against its 7-day average of −0.014%). If the spread goes back, that is −$6 on $10k: about 22 hours of funding at the current rate (+$6 a day). The two prices were read 51 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	KuCoin CRCLUSDTM	90.800	0.0100	pay 0.0100% / 8h	2h 26m	$2.6M	$1.8M	20x
Short	Nado CRCL-PERP	90.735	0.0305	get 0.0038% / 1h	26m 37s	$132K	$109K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.071%Rate

Funding earned: $43.04
Price spread: −0.071% → −0.014%: −$5.69
Slippage, 4 orders: −$78.08
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$59.73
Costs to cover: 0.971%
Break-even: 16.7 days

Slippage from KuCoin: live order book, 5 min ago; Nado: live order book, 21 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, 5 min ago	2.19 bp	47.9 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 21 min ago	3.28 bp	8.8 bp −$9	28.2 bp −$282	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	−0.0951%	8h	90.980	+0.198%	$16.7M	$36.4M	25x	as long as short
Vest CRCL-USD-PERP	−0.0073%	1h	90.560	−0.264%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	90.830	+0.033%	$14.5M	$26.8M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	90.850	+0.055%	$7.5M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.161	+0.397%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	90.820	+0.022%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0011%	8h	90.853	+0.058%	$1.0M	$5.1M	20x	as long as short
Binance CRCLUSDT	+0.0023%	8h	90.819	+0.021%	$103.2M	$395.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	90.755	−0.050%	$1.0M	$5.7M	10x	as long as short
edgeX CRCLUSDC	+0.0027%	4h	91.211	+0.452%	$52K	$278K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	90.817	+0.019%	$969K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	90.950	+0.165%	$92K	$291K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	91.073	+0.301%	$2K	$26K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	90.732	−0.075%	$67.8M	$43.5M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	90.770	−0.033%	$380K	$1.3M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	90.800	0.000%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	90.770	−0.033%	$999K	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	90.800	0.000%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	90.800	0.000%	$895K	$576K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0081%	1h	90.750	−0.055%	$4K	$768K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0089%	8h	90.838	+0.042%	$418	$905	5x	as long as short
BloFin CRCL-USDT	+0.0096%	8h	90.820	+0.022%	$1.1M	$1.6M	20x	as long as short
Pacifica CRCL	+0.0100%	1h	90.833	+0.036%	$133K	$161K	10x	as long as short
KuCoin CRCLUSDTMlong	+0.0100%	8h	90.800	long leg	$2.6M	$1.8M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	91.130	+0.363%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	90.790	−0.011%	$905	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	90.781	−0.021%	$4	—	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0105%	8h	91.230	+0.473%	$62K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0110%	8h	90.900	+0.110%	$21.9M	$61.8M	50x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	90.861	+0.068%	$414K	$294K	10x	as long as short
Phoenix CRCL	+0.0210%	1h	91.148	+0.383%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0216%	1h	90.820	+0.022%	$2.9M	$2.4M	10x	as long as short
Nado CRCL-PERPshort	+0.0305%	1h	90.735	−0.071%	$132K	$109K	3x
Injective CRCL/USDC PERP	+0.0440%	1h	91.650	+0.936%	$5K	$19K	30x	as long as short