Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0050%/8h= −5.4% APRpaid last 24h −0.028%

Price spread now: Ondo Perps against KuCoin−0.098%7-day average −0.158% · you buy dearer than you sell

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

Long on KuCoin Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.204%−$20 on $10k

Price spread, last 7 days−0.169%−$17 · spread now −0.098%, 7d avg −0.158%

Together, before fees−0.372%+ Points / potential airdropOndo Perps: Active · farm board−$37 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Ondo Perps is 0.061% dearer against KuCoin than usual: you sell high and buy low (spread −0.098% now, against its 7-day average of −0.158%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CRCLUSDTM	92.060	0.0100	pay 0.0100% / 8h	6h 13m	$2.9M	$1.9M	20x
Short	Ondo Perps CRCL-USD.P	91.970	0.0050	get 0.0006% / 1h	13m 37s	$999K	$5.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.098%Rate

Funding earned: −$10.42
Price spread: −0.098% → −0.158%: $6.07
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$21.35
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 3 min ago; Ondo Perps: 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 KuCoin live order book, 3 min ago	1.63 bp	57.1 bp −$57	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	−0.0857%	8h	92.110	+0.054%	$16.1M	$35.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0046%	1h	91.810	−0.272%	—	$40K	25x	as long as short
Gate CRCL_USDT	−0.0037%	8h	92.060	0.000%	$7.1M	$26.8M	50x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.980	−0.087%	$912K	$586K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.010	−0.054%	$15.0M	$25.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.040	−0.022%	$420K	$299K	10x	as long as short
Variational Omni CRCL	0.0000%	8h	91.928	−0.143%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	92.010	−0.054%	$70K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.030	−0.033%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0024%	1h	91.932	−0.139%	$2K	$23K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	92.101	+0.045%	$975K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.960	−0.109%	$93K	$273K	10x	as long as short
Extended CRCL_24_5-USD	+0.0048%	1h	92.037	−0.025%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0050%	8h	91.990	−0.076%	$104.9M	$394.2M	50x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.043	−0.018%	$69.1M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.975	−0.092%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.029	−0.034%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.Pshort	+0.0050%	1h	91.970	−0.098%	$999K	$5.5M	10x
OKX CRCL-USDT-SWAP	+0.0053%	8h	91.980	−0.087%	$21.8M	$60.4M	50x	as long as short
QFEX CRCL-USD	+0.0057%	1h	92.060	0.000%	$1.3M	$2.3M	10x	as long as short
Aster CRCLUSDT	+0.0059%	8h	92.096	+0.039%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0072%	8h	92.049	−0.012%	$755	$740	5x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0076%	1h	92.040	−0.022%	$4K	$769K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.067	+0.007%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTMlong	+0.0100%	8h	92.060	long leg	$2.9M	$1.9M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	91.980	−0.087%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.030	−0.033%	$918	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.046	−0.015%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0152%	1h	91.963	−0.105%	$131K	$104K	3x	as long as short
Lighter CRCL	+0.0192%	1h	92.097	+0.040%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	91.952	−0.117%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.500	+0.478%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0705%	4h	91.967	−0.101%	$23K	$268K	10x	as long as short