Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0533%/8h= +58.4% APRpaid last 24h +0.013%

Price spread now: Arcus against Gate0.000%7-day average −0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$460.463% of the position

Long on Gate Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.089%+$9 on $10k

Price spread, last 4 days (all we have)−0.145%−$14 · spread now 0.000%, 7d avg −0.081%

Together, before fees−0.056%−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Arcus is 0.081% dearer against Gate than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.081%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.089% in total (about 9.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CRCL_USDT	94.720	0	get 0.0000% / 8h	39m 23s	$7.2M	$27.6M	50x
Short	Arcus CRCL-USD	94.720	0.0533	get 0.0067% / 1h	39m 23s	$97K	$275K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Gate. 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 GatebpFee ArcusbpOrdersPrice spread, now 0.000%Rate

Funding earned: $111.9
Price spread: 0.000% → −0.081%: $8.11
Slippage, 4 orders: −$26.84
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $73.67
Costs to cover: 0.463%
Break-even: 2.4 days

Slippage from Gate: live order book, 4 min ago; Arcus: live order book, 39 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 Gate live order book, 4 min ago	1.05 bp	14.1 bp −$14	28.3 bp −$283	doesn't fit	doesn't fit
Sell Arcus live order book, 39 min ago	3.18 bp	10.1 bp −$10	10.7 bp −$107	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
Gate CRCL_USDTlong	0.0000%	8h	94.720	long leg	$7.2M	$27.6M	50x
Phemex CRCLUSDT	0.0000%	4h	94.770	+0.053%	$1.0M	$52K	10x	as long as short
QFEX CRCL-USD	+0.0022%	1h	94.680	−0.042%	$1.4M	$2.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	94.510	−0.222%	$940K	$723K	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.660	−0.063%	—	$45K	25x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.708	−0.013%	$48K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.720	0.000%	$1.1M	$5.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0052%	1h	94.710	−0.010%	$2K	$21K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0052%	1h	94.686	−0.036%	$367K	$1.1M	10x	as long as short
Lighter RH CRCL	+0.0072%	1h	94.741	+0.022%	$894K	$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
Pacifica CRCL	+0.0100%	1h	94.690	−0.032%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.720	0.000%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.610	−0.116%	$70K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.710	−0.011%	$944	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.733	+0.014%	$4	—	10x	as long as short
Bybit CRCLUSDT	+0.0104%	8h	94.720	0.000%	$15.6M	$25.9M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0134%	8h	94.726	+0.006%	$777	$740	5x	as long as short
Variational Omni CRCL	+0.0139%	8h	94.783	+0.067%	$2.6M	$3.1M	—	as long as short
GRVT CRCL_USDT_Perp	+0.0184%	8h	94.784	+0.067%	$61K	$1.1M	10x	as long as short
Extended CRCL_24_5-USD	+0.0200%	1h	94.683	−0.039%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0202%	8h	94.710	−0.011%	$109.5M	$389.8M	50x	as long as short
OKX CRCL-USDT-SWAP	+0.0205%	8h	94.730	+0.011%	$22.9M	$60.7M	50x	as long as short
Aster CRCLUSDT	+0.0210%	8h	94.766	+0.049%	$1.1M	$4.9M	20x	as long as short
tradeXYZ xyz:CRCL	+0.0245%	1h	94.680	−0.042%	$71.1M	$42.9M	10x	as long as short
Phoenix CRCL	+0.0288%	1h	94.749	+0.031%	$28K	$92K	10x	as long as short
Nado CRCL-PERP	+0.0307%	1h	94.662	−0.062%	$127K	$73K	3x	as long as short
BloFin CRCL-USDT	+0.0313%	8h	94.810	+0.095%	$1.1M	$595K	20x	as long as short
Bitget CRCLUSDT	+0.0315%	8h	94.720	0.000%	$16.9M	$35.4M	25x	as long as short
Lighter CRCL	+0.0440%	1h	94.748	+0.030%	$3.1M	$2.2M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.560	+0.887%	$5K	$19K	30x	as long as short
Arcus CRCL-USDshort	+0.0533%	1h	94.720	0.000%	$97K	$275K	10x
RISEx CRCL/USDC	+0.0534%	1h	94.740	+0.021%	$432K	$312K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0912%	1h	94.770	+0.053%	$4K	$772K	10x	as long as short
edgeX CRCLUSDC	+0.0967%	4h	94.751	+0.033%	$24K	$267K	10x	as long as short