Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0273%/8h= −29.9% APRpaid last 24h −0.039%

Price spread now: KuCoin against Nado+0.002%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$1071.070% of the position

Long on Nado Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.114%−$11 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now +0.002%, 7d avg +0.016%

Together, before fees−0.212%+ Points / potential airdropNado: Active · farm board−$21 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.016%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado CRCL-PERP	91.208	0.0373	pay 0.0047% / 1h	34m 17s	$134K	$109K	3x
Short	KuCoin CRCLUSDTM	91.210	0.0100	get 0.0100% / 8h	7h 34m	$2.6M	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Nado. 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 NadobpFee KuCoinbpOrdersPrice spread, now +0.002%Rate

Funding earned: −$57.33
Price spread: +0.002% → +0.016%: −$1.42
Slippage, 4 orders: −$88
Fee Nado: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$165.75
Costs to cover: 1.070%
Break-even: never at this rate

Slippage from Nado: live order book, 63 min ago; KuCoin: live order book, 3 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 Nado live order book, 63 min ago	2.18 bp	6.8 bp −$7	25.0 bp −$250	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	1.64 bp	33.8 bp −$34	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
Vest CRCL-USD-PERP	−0.0096%	1h	90.850	−0.393%	—	$31K	25x	as long as short
Bitget CRCLUSDT	−0.0075%	8h	91.190	−0.020%	$17.3M	$36.2M	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.190	−0.020%	$14.9M	$26.5M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.240	+0.035%	$1.0M	$47K	10x	as long as short
Gate CRCL_USDT	+0.0021%	8h	91.190	−0.020%	$7.8M	$26.4M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.176	−0.035%	$981K	$2.4M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	91.190	−0.020%	$872K	$505K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.133	−0.083%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.090	−0.130%	$95K	$284K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.074	−0.147%	$67.1M	$44.3M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps CRCL-USD	+0.0050%	1h	91.080	−0.141%	$376K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.164	−0.049%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.030	−0.196%	$1.1M	$4.7M	10x	as long as short
QFEX CRCL-USD	+0.0065%	1h	91.120	−0.097%	$1.3M	$1.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.130	−0.086%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTMshort	+0.0100%	8h	91.210	+0.002%	$2.6M	$1.7M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	91.120	−0.097%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.170	−0.042%	$909	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.200	−0.009%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0133%	8h	91.137	−0.079%	$419	$766	5x	as long as short
Variational Omni CRCL	+0.0152%	8h	91.180	−0.031%	$2.4M	$3.3M	—	as long as short
GRVT CRCL_USDT_Perp	+0.0152%	8h	91.220	+0.013%	$62K	$1.1M	10x	as long as short
Aster CRCLUSDT	+0.0215%	8h	91.197	−0.012%	$1.0M	$5.0M	20x	as long as short
Lighter CRCL	+0.0216%	1h	91.176	−0.035%	$2.9M	$2.1M	10x	as long as short
Binance CRCLUSDT	+0.0230%	8h	91.158	−0.055%	$104.8M	$386.8M	50x	as long as short
Extended CRCL_24_5-USD	+0.0232%	1h	91.161	−0.051%	$1.1M	$5.1M	10x	as long as short
Phoenix CRCL	+0.0254%	1h	91.200	−0.009%	$27K	$66K	10x	as long as short
edgeX CRCLUSDC	+0.0262%	4h	91.189	−0.021%	$52K	$269K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0294%	8h	91.150	−0.064%	$22.3M	$61.4M	50x	as long as short
BloFin CRCL-USDT	+0.0350%	8h	91.150	−0.064%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERPlong	+0.0373%	1h	91.208	long leg	$134K	$109K	3x
Deribit CRCL_USDC-PERPETUAL	+0.0408%	1h	91.190	−0.020%	$5K	$769K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.170	+1.054%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0501%	1h	91.150	−0.064%	$412K	$257K	10x	as long as short