Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.013%

Price spread now: Extended against KuCoin+0.040%7-day average −0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$1101.095% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 7 days−0.113%−$11 · spread now +0.040%, 7d avg −0.053%

Together, before fees−0.131%+ Points / potential airdropExtended: Active · farm board−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.092% dearer against KuCoin than usual: you sell high and buy low (spread +0.040% now, against its 7-day average of −0.053%): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.1 days. At the pace of the last 7 days (−0.018% in total) that is about 36 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CRCLUSDTM	91.700	0.0100	pay 0.0100% / 8h	5h 23m	$2.8M	$1.9M	20x
Short	Extended CRCL_24_5-USD	91.736	0	get 0.0000% / 1h	23m 51s	$1.1M	$5.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against KuCoin. 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 KuCoinbpFee ExtendedbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$21
Price spread: +0.040% → −0.053%: $9.24
Slippage, 4 orders: −$92.53
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$121.29
Costs to cover: 1.095%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Extended: 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 KuCoin live order book, 3 min ago	2.18 bp	68.7 bp −$69	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	0.65 bp	5.4 bp −$5	26.1 bp −$261	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	−0.1304%	8h	91.820	+0.131%	$15.9M	$34.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0077%	1h	91.480	−0.240%	—	$31K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.470	−0.251%	$903K	$518K	10x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.730	+0.033%	$1.1M	$4.9M	20x	as long as short
Extended CRCL_24_5-USDshort	0.0000%	1h	91.736	+0.040%	$1.1M	$5.7M	10x
Binance CRCLUSDT	0.0000%	8h	91.780	+0.088%	$104.6M	$385.0M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.830	+0.142%	$15.1M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.690	−0.011%	$419K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.790	+0.098%	$7.1M	$26.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.576	−0.135%	$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
GRVT CRCL_USDT_Perp	0.0000%	8h	91.605	−0.104%	$65K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.730	+0.033%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0008%	8h	91.810	+0.120%	$21.6M	$59.4M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0019%	1h	91.624	−0.082%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.680	−0.022%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.774	+0.081%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.600	−0.109%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.728	+0.031%	$68.5M	$41.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.691	−0.010%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.698	−0.002%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.550	−0.164%	$974K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0069%	8h	91.695	−0.006%	$752	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.650	−0.055%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTMlong	+0.0100%	8h	91.700	long leg	$2.8M	$1.9M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	91.560	−0.153%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.700	0.000%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.738	+0.041%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.670	−0.033%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0183%	1h	91.546	−0.168%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0192%	1h	91.633	−0.073%	$131K	$104K	3x	as long as short
Lighter CRCL	+0.0224%	1h	91.781	+0.088%	$3.0M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.130	+0.469%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0514%	1h	91.750	+0.055%	$4K	$767K	10x	as long as short
edgeX CRCLUSDC	+0.0554%	4h	91.597	−0.113%	$23K	$248K	10x	as long as short