Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.024%

Price spread now: tradeXYZ against Binance−0.049%7-day average −0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$350.350% of the position

Long on Binance Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.063%−$6 on $10k

Price spread, last 7 days−0.043%−$4 · spread now −0.049%, 7d avg −0.060%

Together, before fees−0.106%+ Points / potential airdroptradeXYZ: Active · farm board−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.060%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.063%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CRCLUSDT	91.799	0	get 0.0000% / 8h	5h 23m	$104.7M	$385.1M	50x
Short	tradeXYZ xyz:CRCL	91.754	0.0050	get 0.0006% / 1h	23m 37s	$68.6M	$41.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.049%Rate

Funding earned: $10.5
Price spread: −0.049% → −0.060%: $1.06
Slippage, 4 orders: −$6.97
Fee Binance: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$23.41
Costs to cover: 0.350%
Break-even: 22.6 days

Slippage from Binance: live order book, 5 min ago; tradeXYZ: live order book, 5 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 Binance live order book, 5 min ago	0.55 bp	6.2 bp −$6	10.8 bp −$108	31.1 bp −$3,108	187.4 bp −$93.7K
Sell tradeXYZ live order book, 5 min ago	1.36 bp	11.3 bp −$11	doesn't fit	doesn't fit	doesn't fit

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	−0.1299%	8h	91.840	+0.044%	$15.9M	$34.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0077%	1h	91.480	−0.348%	—	$31K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.470	−0.359%	$903K	$518K	10x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.781	−0.020%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDTlong	0.0000%	8h	91.799	long leg	$104.7M	$385.1M	50x
Bybit CRCLUSDT	0.0000%	8h	91.850	+0.055%	$15.1M	$25.7M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.809	+0.011%	$419K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.820	+0.022%	$7.1M	$26.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.576	−0.243%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.605	−0.212%	$65K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.730	−0.076%	$1.0M	$49K	10x	as long as short
Aster CRCLUSDT	+0.0001%	8h	91.742	−0.062%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0008%	8h	91.850	+0.055%	$21.6M	$59.4M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0019%	1h	91.624	−0.191%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.680	−0.130%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.824	+0.027%	$975K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.640	−0.174%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCLshort	+0.0050%	1h	91.754	−0.049%	$68.6M	$41.2M	10x
Polymarket Perps CRCL-USD	+0.0050%	1h	91.691	−0.118%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.698	−0.110%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.550	−0.272%	$974K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0071%	8h	91.819	+0.021%	$753	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.770	−0.032%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.710	−0.097%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.560	−0.261%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.700	−0.108%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.738	−0.067%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.670	−0.141%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0183%	1h	91.546	−0.276%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0192%	1h	91.633	−0.181%	$131K	$104K	3x	as long as short
Lighter CRCL	+0.0224%	1h	91.831	+0.034%	$3.0M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.130	+0.360%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0514%	1h	91.750	−0.054%	$4K	$767K	10x	as long as short
edgeX CRCLUSDC	+0.0554%	4h	91.597	−0.221%	$23K	$248K	10x	as long as short