Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.018%

Price spread now: SoDEX against KuCoin−0.067%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SoDEX is 0.067% cheaper against KuCoin than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CRCLUSDTM	91.910	0.0100	pay 0.0100% / 8h	5h 21m	$2.8M	$1.9M	20x
Short	SoDEX CRCL-USD	91.848	0.0050	get 0.0006% / 1h	21m 39s	$46K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.067%Rate

Funding earned: −$10.5
Price spread: −0.067% → 0.000%: −$6.75
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$37.25
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 5 min ago; SoDEX: 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, 5 min ago	2.18 bp	68.7 bp −$69	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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 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	−0.1279%	8h	92.020	+0.120%	$15.9M	$34.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0077%	1h	91.620	−0.316%	—	$31K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.790	−0.131%	$906K	$500K	10x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	92.006	+0.105%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.944	+0.037%	$104.8M	$385.3M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.990	+0.087%	$15.1M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.944	+0.037%	$420K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.060	+0.163%	$7.1M	$26.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.576	−0.363%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.605	−0.332%	$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	91.890	−0.022%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0007%	8h	91.990	+0.087%	$21.6M	$59.5M	50x	as long as short
Aster CRCLUSDT	+0.0007%	8h	91.969	+0.064%	$1.1M	$4.9M	20x	as long as short
Aftermath Perps CRCLUSD	+0.0020%	1h	91.679	−0.251%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.850	−0.065%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.939	+0.032%	$976K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.750	−0.174%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.863	−0.051%	$68.6M	$41.3M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.890	−0.022%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USDshort	+0.0050%	1h	91.848	−0.067%	$46K	$3K	10x
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.910	0.000%	$982K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0074%	8h	91.932	+0.024%	$754	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.930	+0.022%	$133K	$157K	10x	as long as short
KuCoin CRCLUSDTMlong	+0.0100%	8h	91.910	long leg	$2.8M	$1.9M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	91.600	−0.337%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.930	+0.022%	$917	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.915	+0.005%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.760	−0.163%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0183%	1h	91.546	−0.396%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0197%	1h	91.844	−0.071%	$131K	$104K	3x	as long as short
Lighter CRCL	+0.0232%	1h	91.944	+0.037%	$3.0M	$2.4M	10x	as long as short
edgeX CRCLUSDC	+0.0300%	4h	91.627	−0.308%	$23K	$248K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.180	+0.294%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0730%	1h	91.940	+0.033%	$4K	$767K	10x	as long as short