Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0148%/8h= +16.2% APRpaid last 24h +0.026%

Price spread now: KuCoin against Coinbase International+0.021%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$142as in the Price arb table

costs, in and out, $10k−$1391.393% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 4 days (all we have)+0.017%+$2 · spread now +0.021%, 7d avg +0.048%

Together, before fees+0.034%+$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.026% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.021% now, against its 7-day average of +0.048%). If the spread goes back, that is −$3 on $10k: about 14 hours of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.017% in total) that is about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International CRCL-PERP-INTX	93.090	−0.0048	get 0.0006% / 1h	59m 22s	$862K	$703K	10x
Short	KuCoin CRCLUSDTM	93.110	0.0100	get 0.0100% / 8h	5h 59m	$2.6M	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Coinbase International. 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 Coinbase InternationalbpFee KuCoinbpOrdersPrice spread, now +0.021%Rate

Funding earned: $31.08
Price spread: +0.021% → +0.048%: −$2.65
Slippage, 4 orders: −$117.26
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$110.82
Costs to cover: 1.393%
Break-even: 32.0 days

Slippage from Coinbase International: live order book, 52 min ago; KuCoin: live order book, 6 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 Coinbase International live order book, 52 min ago	7.61 bp	12.6 bp −$13	27.1 bp −$271	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	2.15 bp	31.8 bp −$32	doesn't fit	doesn't fit	doesn't fit

CRCL on 34 exchanges

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-INTXlong	−0.0048%	1h	93.090	long leg	$862K	$703K	10x
Vest CRCL-USD-PERP	−0.0019%	1h	93.060	−0.032%	—	$30K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	93.210	+0.129%	$15.1M	$25.1M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	93.250	+0.172%	$18.3M	$33.5M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	93.160	+0.075%	$1.0M	$45K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	93.207	+0.126%	$1.0M	$2.5M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0042%	1h	92.945	−0.156%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	93.100	+0.011%	$68.1M	$40.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	93.162	+0.077%	$383K	$847K	10x	as long as short
Injective CRCL/USDC PERP	+0.0072%	1h	92.090	−1.074%	$38K	$172K	30x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0080%	1h	93.170	+0.086%	$1.3M	$1.6M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	93.138	+0.052%	$139K	$141K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0100%	1h	93.130	+0.043%	$1.0M	$3.8M	10x	as long as short
KuCoin CRCLUSDTMshort	+0.0100%	8h	93.110	+0.021%	$2.6M	$1.6M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	92.940	−0.161%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	93.180	+0.097%	$929	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	93.197	+0.115%	$4	—	10x	as long as short
Gate CRCL_USDT	+0.0123%	8h	93.250	+0.172%	$7.5M	$25.1M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0133%	8h	93.190	+0.108%	$429	$477	5x	as long as short
Phoenix CRCL	+0.0199%	1h	92.945	−0.156%	$27K	$66K	10x	as long as short
Lighter CRCL	+0.0248%	1h	93.230	+0.150%	$3.0M	$2.1M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0287%	1h	93.170	+0.086%	$5K	$435K	10x	as long as short
Variational Omni CRCL	+0.0309%	8h	92.973	−0.126%	$2.5M	$3.3M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0340%	8h	93.220	+0.140%	$23.0M	$57.3M	50x	as long as short
Arcus CRCL-USD	+0.0368%	1h	93.140	+0.054%	$94K	$214K	10x	as long as short
SoDEX CRCL-USD	+0.0384%	1h	93.165	+0.081%	$47K	$3K	10x	as long as short
Aster CRCLUSDT	+0.0386%	8h	93.140	+0.054%	$1.1M	$4.5M	20x	as long as short
Extended CRCL_24_5-USD	+0.0392%	1h	93.169	+0.085%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0396%	8h	93.180	+0.097%	$107.8M	$354.1M	50x	as long as short
edgeX CRCLUSDC	+0.0418%	4h	92.953	−0.147%	$53K	$270K	10x	as long as short
Nado CRCL-PERP	+0.0443%	1h	93.196	+0.114%	$153K	$92K	3x	as long as short
BloFin CRCL-USDT	+0.0516%	8h	93.160	+0.075%	$1.1M	$1.7M	20x	as long as short
RISEx CRCL/USDC	+0.0528%	1h	93.180	+0.097%	$418K	$239K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0805%	8h	93.020	−0.075%	$62K	$1.0M	10x	as long as short