Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0027%/8h= +3.0% APRpaid last 24h +0.036%

Price spread now: Binance against Ondo Perps+0.254%7-day average +0.114% · you sell dearer than you buy

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

Long on Ondo Perps Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.142%+$14 on $10k

Price spread, last 2 days (all we have)−0.101%−$10 · spread now +0.254%, 7d avg +0.114%

Together, before fees+0.041%+ Points / potential airdropOndo Perps: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Binance is 0.140% dearer against Ondo Perps than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.114%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps CRCL-USD.P	91.850	0.0050	pay 0.0006% / 1h	35m 19s	$1.0M	$5.5M	10x
Short	Binance CRCLUSDT	92.083	0.0078	get 0.0078% / 8h	6h 35m	$105.1M	$392.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Ondo Perps. 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 Ondo PerpsbpFee BinancebpOrdersPrice spread, now +0.254%Rate

Funding earned: $5.73
Price spread: +0.254% → +0.114%: $14
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: $4.73
Costs to cover: 0.150%
Break-even: 1.2 days

Slippage unknown: Ondo Perps: no order-book sample; Binance: live order book, 8 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Binance live order book, 8 min ago	0.54 bp	6.4 bp −$6	10.3 bp −$103	37.2 bp −$3,716	139.3 bp −$69.6K

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 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	−0.0393%	8h	92.150	+0.327%	$16.0M	$35.3M	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.990	+0.152%	$916K	$586K	10x	as long as short
Vest CRCL-USD-PERP	0.0000%	1h	91.830	−0.022%	—	$37K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.110	+0.283%	$15.1M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.070	+0.240%	$421K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.130	+0.305%	$7.2M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.051	+0.219%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.790	−0.065%	$61K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.970	+0.131%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0026%	1h	92.008	+0.172%	$2K	$23K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	92.134	+0.309%	$980K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.950	+0.109%	$93K	$272K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.064	+0.233%	$69.4M	$41.9M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.032	+0.198%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.990	+0.152%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.Plong	+0.0050%	1h	91.850	long leg	$1.0M	$5.5M	10x
QFEX CRCL-USD	+0.0057%	1h	92.080	+0.250%	$1.3M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0076%	1h	92.130	+0.305%	$4K	$769K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0077%	8h	92.110	+0.283%	$21.7M	$60.3M	50x	as long as short
Binance CRCLUSDTshort	+0.0078%	8h	92.083	+0.254%	$105.1M	$392.6M	50x
Extended CRCL_24_5-USD	+0.0080%	1h	92.064	+0.233%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0081%	8h	92.086	+0.257%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0083%	8h	92.108	+0.281%	$755	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	92.094	+0.266%	$129K	$154K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.090	+0.261%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.890	+0.044%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.050	+0.218%	$918	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.094	+0.266%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0172%	1h	92.023	+0.189%	$131K	$103K	3x	as long as short
Lighter CRCL	+0.0200%	1h	92.140	+0.316%	$3.0M	$2.4M	10x	as long as short
BloFin CRCL-USDT	+0.0222%	8h	92.330	+0.523%	$1.1M	$1.1M	20x	as long as short
Phoenix CRCL	+0.0231%	1h	91.730	−0.131%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.270	+0.457%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0565%	4h	91.735	−0.125%	$23K	$267K	10x	as long as short