Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0029%/8h= −3.2% APRpaid last 24h −0.027%

Price spread now: Gate against tradeXYZ+0.127%7-day average +0.098% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$500.503% of the position

Long on tradeXYZ Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.101%+$10 on $10k

Price spread, last 7 days0.000%$0 · spread now +0.127%, 7d avg +0.098%

Together, before fees+0.102%+ Points / potential airdroptradeXYZ: Active · farm board+$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.030% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.127% now, against its 7-day average of +0.098%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.4 days. Mind the row above: over the last 7 days funding on this pair paid +0.101%, 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	91.074	0.0050	pay 0.0006% / 1h	34m 15s	$67.1M	$44.3M	10x
Short	Gate CRCL_USDT	91.190	0.0021	get 0.0021% / 8h	7h 34m	$7.8M	$26.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.127%Rate

Funding earned: −$6.09
Price spread: +0.127% → +0.098%: $2.97
Slippage, 4 orders: −$17.27
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$53.39
Costs to cover: 0.503%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 4 min ago; Gate: live order book, 4 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, 4 min ago	0.77 bp	10.3 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	2.74 bp	14.8 bp −$15	22.6 bp −$226	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	−0.246%	—	$31K	25x	as long as short
Bitget CRCLUSDT	−0.0075%	8h	91.190	+0.127%	$17.3M	$36.2M	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.190	+0.127%	$14.9M	$26.5M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.240	+0.182%	$1.0M	$47K	10x	as long as short
Gate CRCL_USDTshort	+0.0021%	8h	91.190	+0.127%	$7.8M	$26.4M	50x
Lighter RH CRCL	+0.0032%	1h	91.176	+0.112%	$981K	$2.4M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	91.190	+0.127%	$872K	$505K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.133	+0.065%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.090	+0.018%	$95K	$284K	10x	as long as short
tradeXYZ xyz:CRCLlong	+0.0050%	1h	91.074	long leg	$67.1M	$44.3M	10x

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	+0.007%	$376K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.164	+0.099%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.030	−0.048%	$1.1M	$4.7M	10x	as long as short
QFEX CRCL-USD	+0.0065%	1h	91.120	+0.051%	$1.3M	$1.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.130	+0.061%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.210	+0.149%	$2.6M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.120	+0.051%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.170	+0.105%	$909	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.200	+0.138%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0133%	8h	91.137	+0.069%	$419	$766	5x	as long as short
Variational Omni CRCL	+0.0152%	8h	91.180	+0.116%	$2.4M	$3.3M	—	as long as short
GRVT CRCL_USDT_Perp	+0.0152%	8h	91.220	+0.160%	$62K	$1.1M	10x	as long as short
Aster CRCLUSDT	+0.0215%	8h	91.197	+0.136%	$1.0M	$5.0M	20x	as long as short
Lighter CRCL	+0.0216%	1h	91.176	+0.112%	$2.9M	$2.1M	10x	as long as short
Binance CRCLUSDT	+0.0230%	8h	91.158	+0.093%	$104.8M	$386.8M	50x	as long as short
Extended CRCL_24_5-USD	+0.0232%	1h	91.161	+0.096%	$1.1M	$5.1M	10x	as long as short
Phoenix CRCL	+0.0254%	1h	91.200	+0.138%	$27K	$66K	10x	as long as short
edgeX CRCLUSDC	+0.0262%	4h	91.189	+0.126%	$52K	$269K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0294%	8h	91.150	+0.083%	$22.3M	$61.4M	50x	as long as short
BloFin CRCL-USDT	+0.0350%	8h	91.150	+0.083%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0373%	1h	91.208	+0.148%	$134K	$109K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0408%	1h	91.190	+0.127%	$5K	$769K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.170	+1.203%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0501%	1h	91.150	+0.083%	$412K	$257K	10x	as long as short