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: Arcus against KuCoin+0.132%7-day average −0.059% · 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−$106as in the Price arb table

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

Long on KuCoin Short on Arcus

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)−0.248%−$25 · spread now +0.132%, 7d avg −0.059%

Together, before fees−0.193%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.191% dearer against KuCoin than usual: you sell high and buy low (spread +0.132% now, against its 7-day average of −0.059%): +$19 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 11 days. Mind the row above: over the last 4 days funding on this pair paid +0.055%, 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	KuCoin CRCLUSDTM	91.200	0.0100	pay 0.0100% / 8h	5h 49m	$2.8M	$1.9M	20x
Short	Arcus CRCL-USD	91.320	0.0040	get 0.0005% / 1h	49m 42s	$93K	$271K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against KuCoin. 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 KuCoinbpFee ArcusbpOrdersPrice spread, now +0.132%Rate

Funding earned: −$12.54
Price spread: +0.132% → −0.059%: $19.08
Slippage, 4 orders: −$108.49
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$118.45
Costs to cover: 1.250%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Arcus: 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 KuCoin live order book, 2 min ago	1.64 bp	55.4 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 14 min ago	3.81 bp	10.7 bp −$11	14.4 bp −$144	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	91.190	−0.011%	$15.6M	$34.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0075%	1h	90.980	−0.241%	—	$38K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.160	−0.044%	$900K	$539K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.120	−0.088%	$14.9M	$25.7M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.110	−0.099%	$416K	$297K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.150	−0.055%	$7.0M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.307	+0.118%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.340	+0.154%	$66K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.170	−0.033%	$1.0M	$49K	10x	as long as short
Binance CRCLUSDT	+0.0014%	8h	91.102	−0.108%	$103.5M	$383.6M	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	91.093	−0.117%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0021%	8h	91.147	−0.058%	$1.1M	$4.9M	20x	as long as short
Aftermath Perps CRCLUSD	+0.0023%	1h	91.468	+0.294%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.100	−0.110%	$1.3M	$2.2M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0027%	8h	91.160	−0.044%	$21.4M	$58.9M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.156	−0.048%	$969K	$2.9M	10x	as long as short
Arcus CRCL-USDshort	+0.0040%	1h	91.320	+0.132%	$93K	$271K	10x
tradeXYZ xyz:CRCL	+0.0050%	1h	91.130	−0.077%	$68.2M	$41.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.110	−0.099%	$353K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.140	−0.066%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.160	−0.044%	$973K	$5.1M	10x	as long as short
edgeX CRCLUSDC	+0.0055%	4h	91.376	+0.193%	$23K	$267K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0070%	8h	91.133	−0.074%	$747	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.118	−0.090%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTMlong	+0.0100%	8h	91.200	long leg	$2.8M	$1.9M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	91.500	+0.329%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.140	−0.066%	$909	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.133	−0.073%	$4	—	10x	as long as short
Phoenix CRCL	+0.0183%	1h	91.382	+0.200%	$27K	$84K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0189%	1h	91.180	−0.022%	$4K	$767K	10x	as long as short
Nado CRCL-PERP	+0.0205%	1h	91.164	−0.039%	$130K	$103K	3x	as long as short
Lighter CRCL	+0.0280%	1h	91.170	−0.033%	$2.9M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.900	+0.768%	$5K	$19K	30x	as long as short