Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.034%

Price spread now: KuCoin against Lighter RH−0.053%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$890.893% of the position

Long on Lighter RH Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.207%+$21 on $10k

Price spread, last 7 days+0.024%+$2 · spread now −0.053%, 7d avg +0.005%

Together, before fees+0.231%+ Points / potential airdropLighter RH: Points live · farm board+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.059% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.053% now, against its 7-day average of +0.005%). If the spread goes back, that is −$6 on $10k: about 2.9 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH CRCL	91.679	0.0032	pay 0.0004% / 1h	32m 38s	$972K	$2.9M	10x
Short	KuCoin CRCLUSDTM	91.630	0.0100	get 0.0100% / 8h	4h 32m	$2.7M	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Lighter RH. 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 Lighter RHbpFee KuCoinbpOrdersPrice spread, now −0.053%Rate

Funding earned: $14.28
Price spread: −0.053% → +0.005%: −$5.88
Slippage, 4 orders: −$77.34
Fee Lighter RH: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$80.93
Costs to cover: 0.893%
Break-even: 46.7 days

Slippage from Lighter RH: live order book, 6 min ago; KuCoin: live order book, 4 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 Lighter RH live order book, 6 min ago	2.23 bp	2.7 bp −$3	11.0 bp −$110	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	1.09 bp	32.1 bp −$32	doesn't fit	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	−0.1040%	8h	91.690	+0.012%	$16.2M	$34.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0068%	1h	91.320	−0.392%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.659	−0.022%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.646	−0.036%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.660	−0.021%	$104.4M	$388.8M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.690	+0.012%	$14.9M	$26.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.660	−0.021%	$417K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.690	+0.012%	$7.2M	$27.1M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.439	−0.262%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.541	−0.151%	$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	91.600	−0.086%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0013%	8h	91.700	+0.023%	$22.0M	$60.9M	50x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.500	−0.195%	$903K	$489K	10x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.550	−0.141%	$1.3M	$2.0M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0029%	1h	91.617	−0.068%	$2K	$24K	5x	as long as short
Lighter RH CRCLlong	+0.0032%	1h	91.679	long leg	$972K	$2.9M	10x
Arcus CRCL-USD	+0.0040%	1h	91.550	−0.141%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.597	−0.089%	$68.3M	$41.6M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.551	−0.140%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.534	−0.158%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.410	−0.293%	$992K	$5.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0087%	8h	91.634	−0.049%	$422	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.620	−0.064%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTMshort	+0.0100%	8h	91.630	−0.053%	$2.7M	$2.0M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	91.500	−0.195%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.610	−0.075%	$913	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.592	−0.095%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.660	−0.021%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.525	−0.168%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0152%	1h	91.675	−0.004%	$3.0M	$2.4M	10x	as long as short
edgeX CRCLUSDC	+0.0281%	4h	91.498	−0.198%	$51K	$276K	10x	as long as short
Nado CRCL-PERP	+0.0290%	1h	91.483	−0.214%	$130K	$104K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.090	+0.448%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0843%	1h	91.610	−0.075%	$4K	$767K	10x	as long as short