Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0095%/8hnext payment +$0.95 per $10,000 · paid last 24h −0.011%

Price spread now: Binance against Bybit−0.006%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$370.367% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 1 day (all we have)−0.012%−$1 · spread now −0.006%, 7d avg −0.021%

Together, before fees−0.051%−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.021%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CRCLUSDT	94.070	0.0080	pay 0.0080% / 8h	4h 04m	$15.4M	$25.7M	50x
Short	Binance CRCLUSDT	94.064	0.0175	get 0.0175% / 8h	4h 04m	$108.1M	$379.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bybit. 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 BybitbpFee BinancebpOrdersPrice spread, now −0.006%Rate

Funding earned: $19.91
Price spread: −0.006% → −0.021%: $1.56
Slippage, 4 orders: −$15.71
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$15.24
Costs to cover: 0.367%
Break-even: 12.4 days

Slippage from Bybit: live order book, 4 min ago; Binance: live order book, 14 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 Bybit live order book, 4 min ago	1.06 bp	10.0 bp −$10	22.9 bp −$229	101.0 bp −$10.1K	doesn't fit
Sell Binance live order book, 14 min ago	0.53 bp	6.9 bp −$7	10.3 bp −$103	23.6 bp −$2,365	111.6 bp −$55.8K

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
Gate CRCL_USDT	0.0000%	8h	94.030	−0.043%	$7.1M	$27.0M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.050	−0.021%	$1.0M	$49K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.062	−0.009%	$812K	$2.8M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	93.920	−0.159%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.038	−0.034%	$354K	$1.0M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	93.855	−0.229%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	93.860	−0.223%	$1.1M	$5.7M	10x	as long as short
QFEX CRCL-USD	+0.0071%	1h	94.040	−0.032%	$1.4M	$2.7M	10x	as long as short
Bybit CRCLUSDTlong	+0.0080%	8h	94.070	long leg	$15.4M	$25.7M	50x
tradeXYZ xyz:CRCL	+0.0093%	1h	93.996	−0.079%	$70.7M	$41.5M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica CRCL	+0.0100%	1h	93.950	−0.128%	$77K	$97K	10x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.150	+0.085%	$69K	$5K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.030	−0.043%	$937	$3K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0102%	8h	94.016	−0.057%	$715	$428	5x	as long as short
KuCoin CRCLUSDTM	+0.0104%	8h	94.010	−0.064%	$2.9M	$1.8M	20x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.069	−0.001%	$4	—	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0108%	8h	94.304	+0.249%	$50K	$1.2M	10x	as long as short
Variational Omni CRCL	+0.0118%	8h	94.065	−0.006%	$2.5M	$3.2M	—	as long as short
Coinbase International CRCL-PERP-INTX	+0.0144%	1h	93.900	−0.181%	$938K	$723K	10x	as long as short
Phoenix CRCL	+0.0162%	1h	94.263	+0.205%	$28K	$92K	10x	as long as short
Aster CRCLUSDT	+0.0162%	8h	94.010	−0.064%	$1.1M	$4.7M	20x	as long as short
Binance CRCLUSDTshort	+0.0175%	8h	94.064	−0.006%	$108.1M	$379.5M	50x
Extended CRCL_24_5-USD	+0.0176%	1h	94.043	−0.029%	$1.2M	$3.5M	10x	as long as short
RISEx CRCL/USDC	+0.0224%	1h	94.088	+0.019%	$417K	$301K	10x	as long as short
BloFin CRCL-USDT	+0.0293%	8h	93.910	−0.170%	$1.1M	$571K	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0299%	8h	94.080	+0.011%	$22.8M	$59.2M	50x	as long as short
Lighter CRCL	+0.0336%	1h	94.100	+0.032%	$2.9M	$2.2M	10x	as long as short
Nado CRCL-PERP	+0.0339%	1h	93.998	−0.077%	$131K	$67K	3x	as long as short
Aftermath Perps CRCLUSD	+0.0362%	1h	94.172	+0.109%	$2K	$17K	5x	as long as short
Bitget CRCLUSDT	+0.0430%	8h	94.060	−0.011%	$16.8M	$34.5M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.500	+0.457%	$5K	$20K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0708%	1h	94.040	−0.032%	$4K	$802K	10x	as long as short
Arcus CRCL-USD	+0.0748%	1h	94.020	−0.053%	$100K	$258K	10x	as long as short
edgeX CRCLUSDC	+0.0920%	4h	94.340	+0.287%	$24K	$265K	10x	as long as short