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= −5.5% APRpaid last 24h −0.018%

Price spread now: SoDEX against KuCoin−0.078%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SoDEX is 0.078% cheaper against KuCoin than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CRCLUSDTM	91.900	0.0100	pay 0.0100% / 8h	3h 13m	$2.7M	$1.9M	20x
Short	SoDEX CRCL-USD	91.828	0.0050	get 0.0006% / 1h	13m 35s	$46K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.078%Rate

Funding earned: −$10.5
Price spread: −0.078% → 0.000%: −$7.83
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$38.33
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 3 min ago; SoDEX: 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, 3 min ago	0.54 bp	46.5 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	−0.0679%	8h	91.930	+0.033%	$16.6M	$35.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0061%	1h	91.640	−0.283%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.900	0.000%	$14.8M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.940	+0.044%	$7.3M	$27.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.919	+0.021%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.900	0.000%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0018%	8h	91.921	+0.023%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.864	−0.039%	$1.2M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0026%	8h	91.889	−0.012%	$104.7M	$392.5M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.884	−0.017%	$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	91.857	−0.047%	$2K	$26K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.860	−0.044%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.770	−0.141%	$911K	$519K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.837	−0.069%	$68.3M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.850	−0.054%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USDshort	+0.0050%	1h	91.828	−0.078%	$46K	$3K	10x
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.780	−0.131%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.870	−0.033%	$1.3M	$1.9M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0070%	8h	91.866	−0.037%	$423	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0092%	8h	91.970	+0.076%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0097%	8h	91.920	+0.022%	$22.3M	$61.8M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.888	−0.013%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTMlong	+0.0100%	8h	91.900	long leg	$2.7M	$1.9M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	91.850	−0.054%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.870	−0.033%	$916	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.847	−0.057%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.907	+0.008%	$419K	$299K	10x	as long as short
BloFin CRCL-USDT	+0.0107%	8h	91.930	+0.033%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0182%	1h	91.884	−0.017%	$27K	$82K	10x	as long as short
edgeX CRCLUSDC	+0.0203%	4h	91.943	+0.047%	$51K	$277K	10x	as long as short
Lighter CRCL	+0.0256%	1h	91.878	−0.024%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0353%	1h	91.825	−0.081%	$134K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.501%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0513%	1h	91.850	−0.054%	$4K	$768K	10x	as long as short