CRCL

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC−0.0210%/8h= −23.0% APRnext payment −$2.10 per $10,000 · paid last 24h −0.022%

Price spread now: KuCoin against OKX−0.032%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1161.158% of the position

Long on OKX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 7 days+0.037%+$4 · spread now −0.032%, 7d avg −0.007%

Together, before fees+0.055%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and KuCoin is 0.026% cheaper against OKX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.007%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.018% in total (about 1.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.10 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CRCL-USDT-SWAP	92.950	0.0310	pay 0.0310% / 8h	5h 41m	$22.9M	$56.7M	50x
Short	KuCoin CRCLUSDTM	92.920	0.0100	get 0.0100% / 8h	5h 41m	$2.6M	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against OKX. 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 OKXbpFee KuCoinbpOrdersPrice spread, now −0.032%Rate

Funding earned: −$44.04
Price spread: −0.032% → −0.007%: −$2.56
Slippage, 4 orders: −$93.79
Fee OKX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$162.39
Costs to cover: 1.158%
Break-even: never at this rate

Slippage from OKX: live order book, 5 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 OKX live order book, 5 min ago	0.54 bp	8.3 bp −$8	15.1 bp −$151	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	3.23 bp	39.7 bp −$40	doesn't fit	doesn't fit	doesn't fit

CRCL on 34 exchanges

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
Coinbase International CRCL-PERP-INTX	−0.0048%	1h	92.950	0.000%	$869K	$748K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.970	+0.022%	$15.0M	$25.1M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.950	0.000%	$18.6M	$33.5M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.900	−0.054%	$1.0M	$45K	10x	as long as short
Vest CRCL-USD-PERP	+0.0002%	1h	92.850	−0.108%	—	$30K	25x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.905	−0.048%	$998K	$2.5M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	92.935	−0.016%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.828	−0.131%	$67.8M	$40.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.933	−0.018%	$376K	$860K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.868	−0.088%	$47K	$3K	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.870	−0.086%	$1.0M	$3.8M	10x	as long as short
QFEX CRCL-USD	+0.0055%	1h	92.960	+0.011%	$1.3M	$1.6M	10x	as long as short
Injective CRCL/USDC PERP	+0.0072%	1h	92.090	−0.925%	$38K	$172K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0073%	1h	92.860	−0.097%	$5K	$415K	10x	as long as short
Gate CRCL_USDT	+0.0079%	8h	92.970	+0.022%	$7.5M	$25.4M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	92.940	−0.011%	$139K	$139K	10x	as long as short
KuCoin CRCLUSDTMshort	+0.0100%	8h	92.920	−0.032%	$2.6M	$1.6M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	92.970	+0.022%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.920	−0.032%	$926	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.891	−0.063%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0107%	8h	92.966	+0.017%	$428	$477	5x	as long as short
Phoenix CRCL	+0.0197%	1h	92.861	−0.096%	$27K	$66K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	92.950	0.000%	$94K	$210K	10x	as long as short
Nado CRCL-PERP	+0.0294%	1h	92.871	−0.085%	$155K	$94K	3x	as long as short
Variational Omni CRCL	+0.0306%	8h	93.001	+0.055%	$2.5M	$3.3M	—	as long as short
OKX CRCL-USDT-SWAPlong	+0.0310%	8h	92.950	long leg	$22.9M	$56.7M	50x
Lighter CRCL	+0.0328%	1h	92.954	+0.004%	$3.0M	$2.1M	10x	as long as short
Aster CRCLUSDT	+0.0371%	8h	92.987	+0.040%	$1.1M	$4.4M	20x	as long as short
Binance CRCLUSDT	+0.0374%	8h	92.950	0.000%	$107.2M	$352.1M	50x	as long as short
Extended CRCL_24_5-USD	+0.0376%	1h	92.919	−0.033%	$1.1M	$4.0M	10x	as long as short
BloFin CRCL-USDT	+0.0505%	8h	92.980	+0.032%	$1.1M	$1.7M	20x	as long as short
RISEx CRCL/USDC	+0.0528%	1h	92.971	+0.022%	$417K	$233K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0773%	8h	93.081	+0.141%	$61K	$1.0M	10x	as long as short
edgeX CRCLUSDC	+0.0830%	4h	92.904	−0.049%	$53K	$270K	10x	as long as short