Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.024%

Price spread now: Binance against tradeXYZ+0.112%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$350.350% of the position

Long on tradeXYZ Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 7 days−0.020%−$2 · spread now +0.112%, 7d avg +0.060%

Together, before fees+0.043%+ Points / potential airdroptradeXYZ: Active · farm board+$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.052% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.112% now, against its 7-day average of +0.060%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.5 days. Mind the row above: over the last 7 days funding on this pair paid +0.063%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:CRCL	91.863	0.0050	pay 0.0006% / 1h	21m 35s	$68.6M	$41.3M	10x
Short	Binance CRCLUSDT	91.966	0	get 0.0000% / 8h	5h 21m	$104.8M	$385.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against tradeXYZ. 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 tradeXYZbpFee BinancebpOrdersPrice spread, now +0.112%Rate

Funding earned: −$10.5
Price spread: +0.112% → +0.060%: $5.22
Slippage, 4 orders: −$6.97
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Binance: 5 bp × 2 orders: −$10
Net: −$40.25
Costs to cover: 0.350%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 7 min ago; Binance: live order book, 7 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 tradeXYZ live order book, 7 min ago	1.36 bp	11.1 bp −$11	12.6 bp −$126	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	0.55 bp	6.3 bp −$6	10.8 bp −$108	33.6 bp −$3,356	140.4 bp −$70.2K

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	−0.1279%	8h	92.020	+0.171%	$15.9M	$34.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0077%	1h	91.750	−0.123%	—	$31K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.790	−0.079%	$906K	$500K	10x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.917	+0.059%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDTshort	0.0000%	8h	91.966	+0.112%	$104.8M	$385.3M	50x
Bybit CRCLUSDT	0.0000%	8h	92.020	+0.171%	$15.2M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.944	+0.088%	$420K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.050	+0.204%	$7.1M	$26.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.576	−0.312%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.780	−0.090%	$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	91.890	+0.029%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0007%	8h	92.030	+0.182%	$21.6M	$59.6M	50x	as long as short
Aster CRCLUSDT	+0.0007%	8h	91.899	+0.039%	$1.1M	$4.9M	20x	as long as short
Aftermath Perps CRCLUSD	+0.0020%	1h	91.679	−0.200%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.960	+0.106%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.939	+0.083%	$976K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.750	−0.123%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCLlong	+0.0050%	1h	91.863	long leg	$68.6M	$41.3M	10x
Polymarket Perps CRCL-USD	+0.0050%	1h	91.981	+0.128%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.848	−0.016%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.910	+0.051%	$982K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0074%	8h	91.932	+0.075%	$754	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.930	+0.073%	$133K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.910	+0.051%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.690	−0.188%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.930	+0.073%	$917	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.915	+0.057%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.760	−0.112%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0183%	1h	91.755	−0.118%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0200%	1h	91.854	−0.010%	$131K	$104K	3x	as long as short
Lighter CRCL	+0.0232%	1h	91.944	+0.088%	$3.0M	$2.4M	10x	as long as short
edgeX CRCLUSDC	+0.0300%	4h	91.627	−0.257%	$23K	$248K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.180	+0.345%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0730%	1h	91.940	+0.084%	$4K	$767K	10x	as long as short