Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0050%/8h= +5.4% APRpaid last 24h +0.028%

Price spread now: KuCoin against Ondo Perps+0.033%7-day average +0.157% · you sell dearer than you buy

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

Long on Ondo Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.203%+$20 on $10k

Price spread, last 7 days+0.071%+$7 · spread now +0.033%, 7d avg +0.157%

Together, before fees+0.274%+ Points / potential airdropOndo Perps: Active · farm board+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.124% cheaper against Ondo Perps than usual: you would sell low and buy high (spread +0.033% now, against its 7-day average of +0.157%). If the spread goes back, that is −$12 on $10k: about 8.3 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps CRCL-USD.P	90.840	0.0050	pay 0.0006% / 1h	25m 38s	$999K	$5.2M	10x
Short	KuCoin CRCLUSDTM	90.870	0.0100	get 0.0100% / 8h	2h 25m	$2.7M	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.033%Rate

Funding earned: $10.42
Price spread: +0.033% → +0.157%: −$12.36
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$18.94
Costs to cover: 0.170%
Break-even: 19.7 days

Slippage unknown: Ondo Perps: no order-book sample; KuCoin: live order book, 1 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 KuCoin live order book, 1 min ago	1.65 bp	36.8 bp −$37	doesn't fit	doesn't fit	doesn't fit

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
Bitget CRCLUSDT	−0.0969%	8h	91.090	+0.275%	$16.7M	$36.4M	25x	as long as short
Vest CRCL-USD-PERP	−0.0073%	1h	90.590	−0.275%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	90.970	+0.143%	$14.5M	$26.9M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	90.990	+0.165%	$7.5M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	90.870	+0.033%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	90.870	+0.033%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0009%	8h	90.940	+0.111%	$1.0M	$5.1M	20x	as long as short
Binance CRCLUSDT	+0.0023%	8h	90.958	+0.130%	$103.4M	$395.8M	50x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	90.924	+0.093%	$1.0M	$5.7M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.006	+0.183%	$971K	$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
Arcus CRCL-USD	+0.0040%	1h	90.920	+0.088%	$92K	$290K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	91.016	+0.194%	$2K	$26K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	90.806	−0.037%	$67.8M	$43.5M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	90.864	+0.026%	$381K	$1.3M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	90.802	−0.042%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.Plong	+0.0050%	1h	90.840	long leg	$999K	$5.2M	10x
QFEX CRCL-USD	+0.0054%	1h	90.960	+0.132%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	90.670	−0.187%	$883K	$586K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0090%	8h	90.972	+0.146%	$418	$905	5x	as long as short
BloFin CRCL-USDT	+0.0096%	8h	90.820	−0.022%	$1.1M	$1.6M	20x	as long as short
Pacifica CRCL	+0.0100%	1h	90.970	+0.144%	$133K	$161K	10x	as long as short
KuCoin CRCLUSDTMshort	+0.0100%	8h	90.870	+0.033%	$2.7M	$1.8M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	90.750	−0.099%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	90.860	+0.022%	$906	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	90.870	+0.033%	$4	—	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0105%	8h	91.230	+0.429%	$62K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0111%	8h	91.010	+0.187%	$22.0M	$62.0M	50x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	90.950	+0.121%	$414K	$294K	10x	as long as short
edgeX CRCLUSDC	+0.0136%	4h	90.812	−0.031%	$52K	$277K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0190%	1h	90.880	+0.044%	$4K	$768K	10x	as long as short
Lighter CRCL	+0.0208%	1h	90.896	+0.062%	$2.9M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0210%	1h	91.148	+0.339%	$27K	$82K	10x	as long as short
Nado CRCL-PERP	+0.0302%	1h	90.845	+0.006%	$132K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.650	+0.892%	$5K	$19K	30x	as long as short