Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0253%/8h= −27.7% APRpaid last 24h −0.033%

Price spread now: KuCoin against Nado+0.027%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$970.975% of the position

Long on Nado Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.105%−$10 on $10k

Price spread, last 4 days (all we have)−0.074%−$7 · spread now +0.027%, 7d avg +0.013%

Together, before fees−0.179%+ Points / potential airdropNado: Active · farm board−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.013%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado CRCL-PERP	91.885	0.0353	pay 0.0044% / 1h	15m 31s	$134K	$108K	3x
Short	KuCoin CRCLUSDTM	91.910	0.0100	get 0.0100% / 8h	3h 15m	$2.7M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Nado. 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 NadobpFee KuCoinbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$53.05
Price spread: +0.027% → +0.013%: $1.4
Slippage, 4 orders: −$78.49
Fee Nado: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$149.14
Costs to cover: 0.975%
Break-even: never at this rate

Slippage from Nado: live order book, 37 min ago; KuCoin: live order book, 1 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 Nado live order book, 37 min ago	2.71 bp	7.6 bp −$8	27.5 bp −$275	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	0.54 bp	35.2 bp −$35	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	−0.0682%	8h	91.980	+0.104%	$16.7M	$35.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0061%	1h	91.690	−0.212%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.930	+0.049%	$14.9M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.000	+0.125%	$7.3M	$27.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.919	+0.037%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.930	+0.049%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0018%	8h	91.973	+0.096%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.910	+0.027%	$1.2M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0027%	8h	91.949	+0.070%	$104.8M	$392.5M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.969	+0.092%	$975K	$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	−0.001%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.870	−0.016%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.770	−0.125%	$911K	$519K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.882	−0.003%	$68.3M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.920	+0.038%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.918	+0.036%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.840	−0.049%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.920	+0.038%	$1.3M	$1.9M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0070%	8h	91.920	+0.039%	$423	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0092%	8h	91.970	+0.093%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0097%	8h	91.950	+0.071%	$22.3M	$61.9M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.933	+0.052%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTMshort	+0.0100%	8h	91.910	+0.027%	$2.7M	$1.9M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	91.850	−0.038%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.920	+0.038%	$916	$2K	10x	as long as short
BloFin CRCL-USDT	+0.0102%	8h	91.930	+0.049%	$1.1M	$1.6M	20x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.919	+0.037%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.944	+0.065%	$419K	$299K	10x	as long as short
Phoenix CRCL	+0.0182%	1h	91.884	−0.001%	$27K	$82K	10x	as long as short
edgeX CRCLUSDC	+0.0203%	4h	91.943	+0.064%	$51K	$277K	10x	as long as short
Lighter CRCL	+0.0264%	1h	91.961	+0.083%	$3.0M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0294%	1h	91.920	+0.038%	$4K	$768K	10x	as long as short
Nado CRCL-PERPlong	+0.0353%	1h	91.885	long leg	$134K	$108K	3x
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.517%	$5K	$19K	30x	as long as short