Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0075%/8h= −8.2% APRpaid last 24h −0.026%

Price spread now: Gate against tradeXYZ+0.060%7-day average +0.097% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$530.526% of the position

Long on tradeXYZ Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.101%+$10 on $10k

Price spread, last 7 days+0.074%+$7 · spread now +0.060%, 7d avg +0.097%

Together, before fees+0.176%+ Points / potential airdroptradeXYZ: Active · farm board+$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Gate is 0.038% cheaper against tradeXYZ than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.097%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.101%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:CRCL	95.763	0.0100	pay 0.0012% / 1h	44m 36s	$69.5M	$44.6M	10x
Short	Gate CRCL_USDT	95.820	0.0025	get 0.0025% / 8h	4h 44m	$7.8M	$26.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against tradeXYZ. 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 tradeXYZbpFee GatebpOrdersPrice spread, now +0.060%Rate

Funding earned: −$15.65
Price spread: +0.060% → +0.097%: −$3.78
Slippage, 4 orders: −$19.63
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$72.06
Costs to cover: 0.526%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 8 min ago; Gate: live order book, 2 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 tradeXYZ live order book, 8 min ago	0.05 bp	11.3 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.61 bp	17.4 bp −$17	40.4 bp −$404	doesn't fit	doesn't fit

CRCL on 34 exchanges

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
Coinbase International CRCL-PERP-INTX	−0.0024%	1h	95.800	+0.039%	$874K	$807K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	95.770	+0.007%	$16.0M	$29.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	95.710	−0.055%	$436K	$232K	10x	as long as short
Bitget CRCLUSDT	0.0000%	8h	95.780	+0.018%	$19.2M	$39.3M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	95.850	+0.091%	$1.1M	$47K	10x	as long as short
QFEX CRCL-USD	+0.0014%	1h	95.660	−0.108%	$1.4M	$1.7M	10x	as long as short
Gate CRCL_USDTshort	+0.0025%	8h	95.820	+0.060%	$7.8M	$26.8M	50x
Injective CRCL/USDC PERP	+0.0033%	1h	95.630	−0.139%	$39K	$172K	30x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	95.569	−0.203%	$2K	$29K	5x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	95.740	−0.024%	—	$29K	25x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	95.620	−0.149%	$1.1M	$4.4M	10x	as long as short
Arcus CRCL-USD	+0.0057%	1h	95.710	−0.055%	$99K	$242K	10x	as long as short
Lighter RH CRCL	+0.0064%	1h	95.709	−0.056%	$1.0M	$2.7M	10x	as long as short
tradeXYZ xyz:CRCLlong	+0.0100%	1h	95.763	long leg	$69.5M	$44.6M	10x
Pacifica CRCL	+0.0100%	1h	95.700	−0.066%	$143K	$151K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	95.680	−0.087%	$2.5M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	95.390	−0.390%	$98K	$26K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	95.890	+0.133%	$756	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	95.863	+0.104%	$4	—	10x	as long as short
Phoenix CRCL	+0.0136%	1h	95.400	−0.379%	$29K	$94K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0139%	8h	95.703	−0.062%	$440	$477	5x	as long as short
Variational Omni CRCL	+0.0172%	8h	95.761	−0.003%	$2.7M	$3.4M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0227%	8h	95.790	+0.028%	$23.7M	$68.3M	50x	as long as short
edgeX CRCLUSDC	+0.0236%	4h	95.429	−0.349%	$55K	$279K	10x	as long as short
Extended CRCL_24_5-USD	+0.0280%	1h	95.678	−0.088%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0283%	8h	95.750	−0.014%	$112.2M	$398.7M	50x	as long as short
Aster CRCLUSDT	+0.0299%	8h	95.760	−0.003%	$1.2M	$4.8M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0331%	8h	95.986	+0.233%	$56K	$1.0M	10x	as long as short
BloFin CRCL-USDT	+0.0393%	8h	95.880	+0.122%	$1.1M	$1.8M	20x	as long as short
Nado CRCL-PERP	+0.0415%	1h	95.651	−0.117%	$153K	$93K	3x	as long as short
Polymarket Perps CRCL-USD	+0.0425%	1h	95.742	−0.022%	$304K	$1.4M	10x	as long as short
Lighter CRCL	+0.0480%	1h	95.730	−0.034%	$3.3M	$2.5M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0899%	1h	95.870	+0.112%	$5K	$415K	10x	as long as short
SoDEX CRCL-USD	+0.1689%	1h	95.883	+0.125%	$48K	$3K	10x	as long as short