Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.062%

Price spread now: KuCoin against Deribit+0.218%7-day average +0.008% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1281.275% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.090%−$9 on $10k

Price spread, last 3 days (all we have)−0.207%−$21 · spread now +0.218%, 7d avg +0.008%

Together, before fees−0.297%−$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.210% dearer against Deribit than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of +0.008%. Mind the row above: over the last 5 days funding on this pair cost −0.090%, 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	Deribit CRCL_USDC-PERPETUAL	91.780	0	get 0.0000% / 1h	37m 33s	$4K	$769K	10x
Short	KuCoin CRCLUSDTM	91.980	0.0100	get 0.0100% / 8h	6h 37m	$2.9M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Deribit. 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 DeribitbpFee KuCoinbpOrdersPrice spread, now +0.218%Rate

Funding earned: $21
Price spread: +0.218% → +0.008%: $21.02
Slippage, 4 orders: −$108.53
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$85.51
Costs to cover: 1.275%
Break-even: 35.5 days

Slippage from Deribit: live order book, 31 min ago; KuCoin: live order book, 5 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 Deribit live order book, 31 min ago	0.53 bp	5.1 bp −$5	8.6 bp −$86	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	2.17 bp	45.4 bp −$45	doesn't fit	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
Bitget CRCLUSDT	−0.0319%	8h	92.000	+0.240%	$16.0M	$35.4M	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.650	−0.142%	$912K	$584K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.980	+0.218%	$15.1M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.947	+0.182%	$420K	$300K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.010	+0.251%	$7.2M	$26.4M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.790	+0.011%	$61K	$1.1M	10x	as long as short
Deribit CRCL_USDC-PERPETUALlong	0.0000%	1h	91.780	long leg	$4K	$769K	10x
Phemex CRCLUSDT	0.0000%	4h	91.810	+0.033%	$1.0M	$49K	10x	as long as short
Variational Omni CRCL	+0.0004%	8h	91.891	+0.121%	$2.5M	$3.2M	—	as long as short
Vest CRCL-USD-PERP	+0.0005%	1h	91.710	−0.076%	—	$37K	25x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0027%	1h	92.020	+0.261%	$2K	$22K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.984	+0.222%	$978K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.870	+0.098%	$93K	$272K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.878	+0.107%	$69.2M	$41.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.919	+0.151%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.760	−0.022%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.760	−0.022%	$1.0M	$5.5M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.930	+0.163%	$1.3M	$2.4M	10x	as long as short
Binance CRCLUSDT	+0.0078%	8h	91.940	+0.174%	$104.9M	$393.2M	50x	as long as short
Extended CRCL_24_5-USD	+0.0080%	1h	91.918	+0.151%	$1.1M	$5.7M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0081%	8h	91.960	+0.196%	$21.7M	$60.2M	50x	as long as short
Aster CRCLUSDT	+0.0082%	8h	91.918	+0.151%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0084%	8h	91.949	+0.184%	$754	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.960	+0.196%	$129K	$154K	10x	as long as short
KuCoin CRCLUSDTMshort	+0.0100%	8h	91.980	+0.218%	$2.9M	$1.9M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	91.780	0.000%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.820	+0.044%	$915	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.792	+0.013%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0181%	1h	91.942	+0.177%	$131K	$103K	3x	as long as short
Lighter CRCL	+0.0192%	1h	91.970	+0.207%	$3.0M	$2.4M	10x	as long as short
BloFin CRCL-USDT	+0.0222%	8h	92.330	+0.599%	$1.1M	$1.1M	20x	as long as short
Phoenix CRCL	+0.0231%	1h	91.923	+0.156%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.270	+0.534%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0565%	4h	91.735	−0.049%	$23K	$267K	10x	as long as short