Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.026%

Price spread now: Binance against SoDEX−0.045%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Binance is 0.045% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.045% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 36 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX CRCL-USD	91.544	0.0050	pay 0.0006% / 1h	0m 56s	$46K	$3K	10x
Short	Binance CRCLUSDT	91.503	0.0150	get 0.0150% / 8h	1h 00m	$104.7M	$397.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against SoDEX. 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 SoDEXbpFee BinancebpOrdersPrice spread, now −0.045%Rate

Funding earned: $20.98
Price spread: −0.045% → 0.000%: −$4.52
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$1.54
Costs to cover: 0.180%
Break-even: 7.5 days

Slippage unknown: SoDEX: no order-book sample; Binance: live order book, 13 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 SoDEX no order-book sample	—	—	—	—	—
Sell Binance live order book, 13 min ago	0.55 bp	6.5 bp −$7	10.5 bp −$105	35.5 bp −$3,553	149.7 bp −$74.8K

SoDEX: 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	−0.0346%	8h	91.630	+0.094%	$17.6M	$37.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0080%	1h	91.310	−0.256%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.560	+0.017%	$7.8M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.580	+0.039%	$1.0M	$48K	10x	as long as short
Bybit CRCLUSDT	+0.0005%	8h	91.500	−0.048%	$14.7M	$26.6M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.635	+0.099%	$2K	$28K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.720	+0.192%	$95K	$292K	10x	as long as short
SoDEX CRCL-USDlong	+0.0050%	1h	91.544	long leg	$46K	$3K	10x
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.570	+0.028%	$1.1M	$5.3M	10x	as long as short
Variational Omni CRCL	+0.0051%	8h	91.859	+0.344%	$2.4M	$3.2M	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0056%	1h	91.549	+0.005%	$978K	$2.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0056%	1h	91.500	−0.048%	$891K	$429K	10x	as long as short
QFEX CRCL-USD	+0.0068%	1h	91.520	−0.026%	$1.3M	$1.8M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.721	+0.193%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.550	+0.007%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.690	+0.159%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.530	−0.015%	$913	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.538	−0.006%	$4	—	10x	as long as short
tradeXYZ xyz:CRCL	+0.0113%	1h	91.431	−0.123%	$67.7M	$44.2M	10x	as long as short
Aster CRCLUSDT	+0.0135%	8h	91.500	−0.049%	$1.0M	$5.1M	20x	as long as short
Polymarket Perps CRCL-USD	+0.0150%	1h	91.472	−0.079%	$383K	$1.3M	10x	as long as short
Binance CRCLUSDTshort	+0.0150%	8h	91.503	−0.045%	$104.7M	$397.9M	50x
Extended CRCL_24_5-USD	+0.0152%	1h	91.524	−0.021%	$1.0M	$5.0M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0186%	8h	91.691	+0.161%	$422	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0225%	8h	91.750	+0.225%	$64K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0234%	8h	91.520	−0.026%	$22.3M	$62.1M	50x	as long as short
Phoenix CRCL	+0.0245%	1h	91.776	+0.253%	$27K	$82K	10x	as long as short
BloFin CRCL-USDT	+0.0270%	8h	91.470	−0.081%	$1.1M	$1.7M	20x	as long as short
RISEx CRCL/USDC	+0.0271%	1h	91.513	−0.033%	$417K	$265K	10x	as long as short
Lighter CRCL	+0.0304%	1h	91.550	+0.007%	$2.9M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0429%	1h	91.431	−0.124%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.980	+0.476%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0814%	4h	91.760	+0.236%	$52K	$278K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0844%	1h	91.540	−0.004%	$5K	$769K	10x	as long as short