Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.034%

Price spread now: KuCoin against Lighter RH−0.032%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$930.926% of the position

Long on Lighter RH Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.207%+$21 on $10k

Price spread, last 7 days+0.002%$0 · spread now −0.032%, 7d avg +0.005%

Together, before fees+0.209%+ Points / potential airdropLighter RH: Points live · farm board+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.036% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.032% now, against its 7-day average of +0.005%). If the spread goes back, that is −$4 on $10k: about 2.7 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.207% in total) that is about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH CRCL	91.989	0.0056	pay 0.0007% / 1h	43m 27s	$975K	$2.9M	10x
Short	KuCoin CRCLUSDTM	91.960	0.0100	get 0.0100% / 8h	3h 43m	$2.7M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Lighter RH. 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 Lighter RHbpFee KuCoinbpOrdersPrice spread, now −0.032%Rate

Funding earned: $9.24
Price spread: −0.032% → +0.005%: −$3.63
Slippage, 4 orders: −$80.61
Fee Lighter RH: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$87
Costs to cover: 0.926%
Break-even: 72.9 days

Slippage from Lighter RH: live order book, 5 min ago; KuCoin: live order book, 3 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 Lighter RH live order book, 5 min ago	1.68 bp	2.3 bp −$2	10.2 bp −$102	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	2.17 bp	27.4 bp −$27	doesn't fit	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	−0.0697%	8h	92.040	+0.055%	$16.8M	$35.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.730	−0.282%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.990	+0.001%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.040	+0.055%	$7.3M	$27.3M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.979	−0.011%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.980	−0.010%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0009%	8h	91.988	−0.001%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0015%	8h	91.986	−0.003%	$104.8M	$390.8M	50x	as long as short
Extended CRCL_24_5-USD	+0.0016%	1h	91.965	−0.026%	$1.2M	$5.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.950	−0.043%	$2K	$25K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus CRCL-USD	+0.0040%	1h	91.930	−0.064%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.890	−0.108%	$907K	$510K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.922	−0.073%	$68.3M	$41.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.934	−0.060%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.938	−0.055%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.900	−0.097%	$1.0M	$5.2M	10x	as long as short
Lighter RH CRCLlong	+0.0056%	1h	91.989	long leg	$975K	$2.9M	10x
QFEX CRCL-USD	+0.0060%	1h	91.980	−0.010%	$1.3M	$1.9M	10x	as long as short
BloFin CRCL-USDT	+0.0068%	8h	92.010	+0.023%	$1.1M	$1.4M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0072%	8h	91.949	−0.043%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0074%	8h	92.010	+0.023%	$22.3M	$61.6M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.967	−0.024%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTMshort	+0.0100%	8h	91.960	−0.032%	$2.7M	$1.9M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	91.900	−0.097%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.970	−0.021%	$917	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.969	−0.022%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.976	−0.014%	$418K	$299K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0129%	8h	91.944	−0.049%	$423	$905	5x	as long as short
Phoenix CRCL	+0.0182%	1h	91.939	−0.054%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0280%	1h	91.993	+0.004%	$3.0M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0294%	1h	91.930	−0.064%	$4K	$768K	10x	as long as short
Nado CRCL-PERP	+0.0371%	1h	91.895	−0.102%	$134K	$106K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.403%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0529%	4h	92.039	+0.054%	$51K	$277K	10x	as long as short