Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0156%/8h= +17.1% APRpaid last 24h +0.041%

Price spread now: Lighter against KuCoin+0.120%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$970.969% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.483%+$48 on $10k

Price spread, last 7 days−0.127%−$13 · spread now +0.120%, 7d avg +0.052%

Together, before fees+0.356%+ Points / potential airdropLighter: Season 3 · farm board+$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Lighter is 0.068% dearer against KuCoin than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CRCLUSDTM	91.630	0.0100	pay 0.0100% / 8h	2h 07m	$2.7M	$1.8M	20x
Short	Lighter CRCL	91.740	0.0256	get 0.0032% / 1h	7m 26s	$3.0M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.120%Rate

Funding earned: $32.76
Price spread: +0.120% → +0.052%: $6.79
Slippage, 4 orders: −$84.92
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$57.36
Costs to cover: 0.969%
Break-even: 19.3 days

Slippage from KuCoin: live order book, 4 min ago; Lighter: 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, 4 min ago	1.09 bp	59.9 bp −$60	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	1.91 bp	2.1 bp −$2	7.5 bp −$75	43.9 bp −$4,387	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	−0.0899%	8h	91.790	+0.175%	$17.2M	$36.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0081%	1h	91.450	−0.196%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.740	+0.120%	$14.7M	$26.8M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.750	+0.131%	$7.7M	$27.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.539	−0.099%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.700	+0.076%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.728	+0.107%	$978K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.491	−0.151%	$2K	$27K	5x	as long as short
Aster CRCLUSDT	+0.0038%	8h	91.614	−0.017%	$1.0M	$5.1M	20x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.560	−0.076%	$93K	$289K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX CRCL-USD	+0.0050%	1h	91.714	+0.092%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.570	−0.065%	$1.1M	$5.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0053%	1h	91.723	+0.101%	$384K	$1.3M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	91.720	+0.098%	$1.3M	$1.8M	10x	as long as short
Binance CRCLUSDT	+0.0056%	8h	91.740	+0.120%	$104.5M	$397.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0056%	1h	91.714	+0.092%	$1.0M	$5.7M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0069%	1h	91.687	+0.062%	$67.9M	$44.3M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	91.590	−0.044%	$892K	$606K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.720	+0.098%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTMlong	+0.0100%	8h	91.630	long leg	$2.7M	$1.8M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	91.470	−0.175%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.710	+0.087%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.726	+0.104%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	91.735	+0.115%	$418K	$283K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0134%	8h	91.536	−0.103%	$65K	$1.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0142%	8h	91.725	+0.103%	$422	$905	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0153%	8h	91.750	+0.131%	$22.3M	$62.8M	50x	as long as short
BloFin CRCL-USDT	+0.0169%	8h	91.700	+0.076%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0210%	1h	91.699	+0.075%	$27K	$82K	10x	as long as short
Lighter CRCLshort	+0.0256%	1h	91.740	+0.120%	$3.0M	$2.4M	10x
Nado CRCL-PERP	+0.0334%	1h	91.626	−0.004%	$134K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.770	+0.153%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0552%	4h	91.496	−0.146%	$52K	$277K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.1060%	1h	91.720	+0.098%	$4K	$768K	10x	as long as short