Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0034%/8h= +3.8% APRpaid last 24h −0.026%

Price spread now: SoDEX against Binance+0.133%7-day average — · you sell dearer than you buy

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

Long on Binance Short on SoDEX

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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and SoDEX is 0.133% dearer against Binance than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CRCLUSDT	91.289	0.0016	pay 0.0016% / 8h	5h 50m	$103.7M	$383.4M	50x
Short	SoDEX CRCL-USD	91.410	0.0050	get 0.0006% / 1h	50m 45s	$46K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Binance. 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 BinancebpFee SoDEXbpOrdersPrice spread, now +0.133%Rate

Funding earned: $7.2
Price spread: +0.133% → 0.000%: $13.3
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $2.5
Costs to cover: 0.180%
Break-even: 4.6 days

Slippage unknown: Binance: live order book, 8 min ago; SoDEX: no order-book sample. 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 Binance live order book, 8 min ago	0.55 bp	6.3 bp −$6	8.8 bp −$88	31.5 bp −$3,153	189.9 bp −$95.0K
Sell SoDEX no order-book sample	—	—	—	—	—

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 33 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	−0.1163%	8h	91.390	+0.111%	$15.7M	$34.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0074%	1h	91.250	−0.042%	—	$38K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.330	+0.045%	$901K	$540K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.310	+0.023%	$14.9M	$25.6M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.198	−0.099%	$416K	$297K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.250	−0.042%	$7.0M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.307	+0.020%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.480	+0.210%	$67K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.440	+0.166%	$1.0M	$49K	10x	as long as short
Binance CRCLUSDTlong	+0.0016%	8h	91.289	long leg	$103.7M	$383.4M	50x

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CRCL_24_5-USD	+0.0016%	1h	91.189	−0.109%	$1.1M	$5.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0023%	1h	91.516	+0.250%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.230	−0.064%	$1.3M	$2.2M	10x	as long as short
Aster CRCLUSDT	+0.0025%	8h	91.295	+0.007%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0031%	8h	91.240	−0.053%	$21.7M	$58.6M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.311	+0.025%	$970K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.440	+0.166%	$93K	$270K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.320	+0.034%	$68.4M	$41.0M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.474	+0.203%	$355K	$1.1M	10x	as long as short
SoDEX CRCL-USDshort	+0.0050%	1h	91.410	+0.133%	$46K	$3K	10x
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.160	−0.141%	$973K	$5.1M	10x	as long as short
edgeX CRCLUSDC	+0.0055%	4h	91.376	+0.096%	$23K	$267K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0070%	8h	91.371	+0.090%	$749	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.338	+0.054%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.400	+0.122%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.500	+0.232%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.410	+0.133%	$911	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.372	+0.092%	$4	—	10x	as long as short
Phoenix CRCL	+0.0183%	1h	91.382	+0.102%	$27K	$84K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0188%	1h	91.420	+0.144%	$4K	$767K	10x	as long as short
Nado CRCL-PERP	+0.0191%	1h	91.465	+0.193%	$130K	$103K	3x	as long as short
Lighter CRCL	+0.0280%	1h	91.369	+0.088%	$2.9M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.900	+0.670%	$5K	$19K	30x	as long as short