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= −5.4% APRpaid last 24h −0.028%

Price spread now: Ondo Perps against KuCoin−0.076%7-day average −0.158% · you buy dearer than you sell

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

Long on KuCoin Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.204%−$20 on $10k

Price spread, last 7 days−0.158%−$16 · spread now −0.076%, 7d avg −0.158%

Together, before fees−0.362%+ Points / potential airdropOndo Perps: Active · farm board−$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Ondo Perps is 0.082% dearer against KuCoin than usual: you sell high and buy low (spread −0.076% now, against its 7-day average of −0.158%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CRCLUSDTM	91.910	0.0100	pay 0.0100% / 8h	3h 15m	$2.7M	$1.9M	20x
Short	Ondo Perps CRCL-USD.P	91.840	0.0050	get 0.0006% / 1h	15m 15s	$1.0M	$5.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.076%Rate

Funding earned: −$10.42
Price spread: −0.076% → −0.158%: $8.19
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$19.23
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 2 min ago; Ondo Perps: 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, 2 min ago	0.54 bp	46.5 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	−0.0682%	8h	91.980	+0.076%	$16.7M	$35.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0061%	1h	91.690	−0.239%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.910	0.000%	$14.8M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.000	+0.098%	$7.3M	$27.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.919	+0.010%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.950	+0.044%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0018%	8h	91.942	+0.035%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.874	−0.039%	$1.2M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0027%	8h	91.910	0.000%	$104.7M	$392.5M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.913	+0.003%	$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	91.884	−0.028%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.870	−0.044%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.770	−0.152%	$911K	$519K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.882	−0.030%	$68.3M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.920	+0.011%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.878	−0.035%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.Pshort	+0.0050%	1h	91.840	−0.076%	$1.0M	$5.1M	10x
QFEX CRCL-USD	+0.0060%	1h	91.920	+0.011%	$1.3M	$1.9M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0070%	8h	91.920	+0.011%	$423	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0092%	8h	91.970	+0.065%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0097%	8h	91.940	+0.033%	$22.3M	$61.8M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.933	+0.025%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTMlong	+0.0100%	8h	91.910	long leg	$2.7M	$1.9M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	91.850	−0.065%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.920	+0.011%	$916	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.891	−0.021%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.944	+0.037%	$419K	$299K	10x	as long as short
BloFin CRCL-USDT	+0.0107%	8h	91.930	+0.022%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0182%	1h	91.884	−0.028%	$27K	$82K	10x	as long as short
edgeX CRCLUSDC	+0.0203%	4h	91.943	+0.036%	$51K	$277K	10x	as long as short
Lighter CRCL	+0.0264%	1h	91.907	−0.003%	$3.0M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0295%	1h	91.860	−0.054%	$4K	$768K	10x	as long as short
Nado CRCL-PERP	+0.0353%	1h	91.885	−0.027%	$134K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.490%	$5K	$19K	30x	as long as short