Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h +0.019%

Price spread now: Arcus against OKX+0.076%47s7-day average −0.075% · 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—prices read too far apart to compare

costs, in and out, $10k−$350.353% of the position

Long on OKX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.058%+$6 on $10k

Price spread, last 4 days (all we have)−0.362%−$36 · spread now +0.076%, 7d avg −0.075%

Together, before fees−0.304%−$30 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.151% dearer against OKX than usual: you sell high and buy low (spread +0.076% now, against its 7-day average of −0.075%): +$15 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 9.2 days. Mind the row above: over the last 4 days funding on this pair paid +0.058%, so the current rate has only just turned against you. The two prices were read 47 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	OKX CRCL-USDT-SWAP	91.860	0.0095	pay 0.0095% / 8h	3h 24m	$22.3M	$61.7M	50x
Short	Arcus CRCL-USD	91.930	0.0040	get 0.0005% / 1h	24m 58s	$93K	$273K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against OKX. 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 OKXbpFee ArcusbpOrdersPrice spread, now +0.076%Rate

Funding earned: −$11.47
Price spread: +0.076% → −0.075%: $15.12
Slippage, 4 orders: −$20.85
Fee OKX: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$31.7
Costs to cover: 0.353%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Arcus: live order book, 28 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 OKX live order book, 4 min ago	0.54 bp	7.2 bp −$7	14.0 bp −$140	doesn't fit	doesn't fit
Sell Arcus live order book, 28 min ago	2.71 bp	10.4 bp −$10	11.7 bp −$117	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	−0.0688%	8h	91.890	+0.033%	$16.6M	$35.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0062%	1h	91.610	−0.272%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.840	−0.022%	$14.9M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.910	+0.054%	$7.3M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.918	+0.063%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.880	+0.022%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0023%	8h	91.903	+0.047%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0032%	8h	91.851	−0.010%	$104.7M	$392.4M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.826	−0.037%	$974K	$2.9M	10x	as long as short
Extended CRCL_24_5-USD	+0.0032%	1h	91.827	−0.036%	$1.2M	$5.7M	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	+0.0040%	1h	91.876	+0.018%	$2K	$25K	5x	as long as short
Arcus CRCL-USDshort	+0.0040%	1h	91.930	+0.076%	$93K	$273K	10x
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.730	−0.142%	$905K	$509K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.780	−0.087%	$68.2M	$41.9M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.769	−0.099%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.816	−0.048%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.950	+0.098%	$1.0M	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0060%	8h	91.852	−0.009%	$423	$905	5x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.880	+0.022%	$1.3M	$1.9M	10x	as long as short
OKX CRCL-USDT-SWAPlong	+0.0095%	8h	91.860	long leg	$22.3M	$61.7M	50x
Pacifica CRCL	+0.0100%	1h	91.867	+0.008%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.860	0.000%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.980	+0.131%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.840	−0.022%	$916	$2K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0101%	8h	92.040	+0.196%	$70K	$1.1M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.803	−0.063%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.881	+0.023%	$418K	$300K	10x	as long as short
BloFin CRCL-USDT	+0.0126%	8h	91.840	−0.022%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0182%	1h	91.950	+0.098%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0280%	1h	91.820	−0.044%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0359%	1h	91.726	−0.146%	$133K	$107K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.480	+0.675%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0731%	1h	91.810	−0.054%	$4K	$768K	10x	as long as short
edgeX CRCLUSDC	+0.0944%	4h	92.023	+0.177%	$51K	$275K	10x	as long as short