Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.023%

Price spread now: Gate against SoDEX−0.193%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on Gate

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 Gate is 0.193% cheaper against SoDEX than usual: you would sell low and buy high (−$19 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	SoDEX CRCL-USD	93.160	0.0050	pay 0.0006% / 1h	56m 31s	$47K	$3K	10x
Short	Gate CRCL_USDT	92.980	0	get 0.0000% / 8h	6h 56m	$7.2M	$25.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against SoDEX. 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 SoDEXbpFee GatebpOrdersPrice spread, now −0.193%Rate

Funding earned: −$10.5
Price spread: −0.193% → 0.000%: −$19.32
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$52.82
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Gate: live order book, 2 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 SoDEX no order-book sample	—	—	—	—	—
Sell Gate live order book, 2 min ago	0.54 bp	16.7 bp −$17	29.3 bp −$293	doesn't fit	doesn't fit

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
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	93.200	+0.043%	$932K	$589K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.800	−0.386%	$15.2M	$25.6M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.986	−0.187%	$425K	$299K	10x	as long as short
Gate CRCL_USDTshort	0.0000%	8h	92.980	−0.193%	$7.2M	$25.5M	50x
Bitget CRCLUSDT	0.0000%	8h	93.010	−0.161%	$16.7M	$34.6M	25x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	93.497	+0.362%	$62K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	93.240	+0.086%	$1.0M	$49K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	93.095	−0.070%	$977K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	93.449	+0.310%	$2K	$22K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	93.370	+0.225%	$95K	$271K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest CRCL-USD-PERP	+0.0042%	1h	92.740	−0.451%	—	$37K	25x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.734	−0.457%	$70.3M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.784	−0.404%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USDlong	+0.0050%	1h	93.160	long leg	$47K	$3K	10x
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.910	−0.268%	$1.0M	$5.6M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	92.910	−0.268%	$1.3M	$2.4M	10x	as long as short
Variational Omni CRCL	+0.0059%	8h	93.569	+0.439%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0096%	8h	93.047	−0.121%	$763	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	93.141	−0.020%	$75K	$96K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.950	−0.225%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	93.450	+0.311%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	93.190	+0.032%	$929	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	93.129	−0.033%	$4	—	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0115%	8h	92.870	−0.311%	$22.5M	$58.5M	50x	as long as short
Aster CRCLUSDT	+0.0130%	8h	93.040	−0.128%	$1.1M	$4.9M	20x	as long as short
Binance CRCLUSDT	+0.0133%	8h	92.820	−0.365%	$107.1M	$387.8M	50x	as long as short
Extended CRCL_24_5-USD	+0.0136%	1h	92.981	−0.192%	$1.1M	$5.7M	10x	as long as short
BloFin CRCL-USDT	+0.0255%	8h	93.170	+0.011%	$1.1M	$1.0M	20x	as long as short
Nado CRCL-PERP	+0.0266%	1h	92.752	−0.438%	$153K	$89K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0287%	1h	93.100	−0.064%	$4K	$769K	10x	as long as short
Phoenix CRCL	+0.0296%	1h	93.327	+0.179%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0328%	1h	93.106	−0.058%	$3.0M	$2.3M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	93.910	+0.805%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0813%	4h	93.468	+0.331%	$24K	$266K	10x	as long as short