Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0008%/8h= +0.9% APRpaid last 24h −0.002%

Price spread now: Binance against Ondo Perps+0.122%7-day average +0.119% · you sell dearer than you buy

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

Long on Ondo Perps Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.118%+$12 on $10k

Price spread, last 2 days (all we have)+0.108%+$11 · spread now +0.122%, 7d avg +0.119%

Together, before fees+0.226%+ Points / potential airdropOndo Perps: Active · farm board+$23 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps CRCL-USD.P	94.290	0.0050	pay 0.0006% / 1h	4m 00s	$1.1M	$5.9M	10x
Short	Binance CRCLUSDT	94.405	0.0059	get 0.0059% / 8h	2h 04m	$108.4M	$389.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Ondo Perps. 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 Ondo PerpsbpFee BinancebpOrdersPrice spread, now +0.122%Rate

Funding earned: $1.71
Price spread: +0.122% → +0.119%: $0.31
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$12.98
Costs to cover: 0.150%
Break-even: 60.2 days

Slippage unknown: Ondo Perps: no order-book sample; Binance: live order book, 10 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Binance live order book, 10 min ago	0.53 bp	7.8 bp −$8	14.2 bp −$142	43.0 bp −$4,297	182.9 bp −$91.5K

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
RISEx CRCL/USDC	0.0000%	1h	94.425	+0.143%	$431K	$310K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.420	+0.138%	$7.2M	$27.8M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.411	+0.128%	$50K	$1.2M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	0.0000%	1h	94.420	+0.138%	$4K	$771K	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.430	+0.148%	$1.0M	$50K	10x	as long as short
Variational Omni CRCL	+0.0011%	8h	94.421	+0.139%	$2.5M	$3.2M	—	as long as short
QFEX CRCL-USD	+0.0020%	1h	94.410	+0.127%	$1.4M	$2.7M	10x	as long as short
Bybit CRCLUSDT	+0.0027%	8h	94.420	+0.138%	$15.5M	$25.9M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.439	+0.158%	$881K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0042%	1h	94.443	+0.162%	$2K	$19K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest CRCL-USD-PERP	+0.0046%	1h	94.360	+0.074%	—	$45K	25x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	94.385	+0.101%	$70.8M	$42.9M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.399	+0.116%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.403	+0.120%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.Plong	+0.0050%	1h	94.290	long leg	$1.1M	$5.9M	10x
Extended CRCL_24_5-USD	+0.0056%	1h	94.404	+0.120%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDTshort	+0.0059%	8h	94.405	+0.122%	$108.4M	$389.3M	50x
Aster CRCLUSDT	+0.0095%	8h	94.438	+0.157%	$1.1M	$4.8M	20x	as long as short
Pacifica CRCL	+0.0100%	1h	94.389	+0.105%	$76K	$100K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.430	+0.148%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.360	+0.074%	$69K	$5K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.410	+0.127%	$941	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.416	+0.134%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0142%	8h	94.422	+0.140%	$774	$740	5x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0144%	1h	94.390	+0.106%	$939K	$743K	10x	as long as short
BloFin CRCL-USDT	+0.0178%	8h	94.400	+0.117%	$1.1M	$588K	20x	as long as short
Nado CRCL-PERP	+0.0196%	1h	94.425	+0.143%	$127K	$73K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0209%	8h	94.400	+0.117%	$22.8M	$60.6M	50x	as long as short
Phoenix CRCL	+0.0228%	1h	94.456	+0.176%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0288%	1h	94.454	+0.174%	$3.1M	$2.4M	10x	as long as short
Bitget CRCLUSDT	+0.0321%	8h	94.420	+0.138%	$16.7M	$35.2M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.920	+0.668%	$5K	$20K	30x	as long as short
Arcus CRCL-USD	+0.0560%	1h	94.420	+0.138%	$97K	$274K	10x	as long as short
edgeX CRCLUSDC	+0.0614%	4h	94.419	+0.137%	$24K	$267K	10x	as long as short