Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0060%/8h= +6.5% APRpaid last 24h −0.035%

Price spread now: KuCoin against Arcus−0.186%7-day average +0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$150as in the Price arb table

costs, in and out, $10k−$1251.250% of the position

Long on Arcus Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.055%−$5 on $10k

Price spread, last 4 days (all we have)+0.303%+$30 · spread now −0.186%, 7d avg +0.059%

Together, before fees+0.248%+$25 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.245% cheaper against Arcus than usual: you would sell low and buy high (spread −0.186% now, against its 7-day average of +0.059%). If the spread goes back, that is −$25 on $10k: about 14 days of funding at the current rate (+$2 a day). Mind the row above: over the last 4 days funding on this pair cost −0.055%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus CRCL-USD	91.320	0.0040	pay 0.0005% / 1h	49m 01s	$93K	$271K	10x
Short	KuCoin CRCLUSDTM	91.150	0.0100	get 0.0100% / 8h	5h 49m	$2.8M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Arcus. 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 ArcusbpFee KuCoinbpOrdersPrice spread, now −0.186%Rate

Funding earned: $12.54
Price spread: −0.186% → +0.059%: −$24.54
Slippage, 4 orders: −$108.49
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$136.99
Costs to cover: 1.250%
Break-even: 83.5 days

Slippage from Arcus: live order book, 14 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 Arcus live order book, 14 min ago	3.81 bp	10.9 bp −$11	14.4 bp −$144	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	1.64 bp	48.0 bp −$48	doesn't fit	doesn't fit	doesn't fit

CRCL on 33 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	−0.1192%	8h	91.150	−0.186%	$15.6M	$34.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0076%	1h	90.870	−0.493%	—	$35K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.160	−0.175%	$900K	$539K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.110	−0.230%	$14.9M	$25.7M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.110	−0.230%	$416K	$297K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.120	−0.219%	$7.0M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.307	−0.014%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.340	+0.022%	$66K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.100	−0.241%	$1.0M	$49K	10x	as long as short
Binance CRCLUSDT	+0.0014%	8h	91.086	−0.256%	$103.5M	$383.7M	50x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CRCL_24_5-USD	+0.0016%	1h	91.052	−0.293%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0021%	8h	91.071	−0.273%	$1.1M	$4.9M	20x	as long as short
Aftermath Perps CRCLUSD	+0.0022%	1h	91.379	+0.064%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.100	−0.241%	$1.3M	$2.2M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0027%	8h	91.120	−0.219%	$21.4M	$58.9M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.126	−0.212%	$969K	$2.9M	10x	as long as short
Arcus CRCL-USDlong	+0.0040%	1h	91.320	long leg	$93K	$271K	10x
tradeXYZ xyz:CRCL	+0.0050%	1h	91.036	−0.311%	$68.2M	$41.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.086	−0.256%	$353K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.093	−0.249%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.160	−0.175%	$973K	$5.1M	10x	as long as short
edgeX CRCLUSDC	+0.0055%	4h	91.376	+0.062%	$23K	$267K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0070%	8h	91.133	−0.205%	$747	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.118	−0.221%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTMshort	+0.0100%	8h	91.150	−0.186%	$2.8M	$1.9M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	91.500	+0.197%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.070	−0.274%	$908	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.056	−0.290%	$4	—	10x	as long as short
Phoenix CRCL	+0.0183%	1h	91.079	−0.264%	$27K	$84K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0189%	1h	91.090	−0.252%	$4K	$767K	10x	as long as short
Nado CRCL-PERP	+0.0202%	1h	91.154	−0.182%	$130K	$103K	3x	as long as short
Lighter CRCL	+0.0280%	1h	91.137	−0.200%	$2.9M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.820	+0.548%	$5K	$19K	30x	as long as short