Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.034%

Price spread now: Lighter RH against KuCoin−0.130%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$106as in the Price arb table

costs, in and out, $10k−$930.931% of the position

Long on KuCoin Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.207%−$21 on $10k

Price spread, last 7 days+0.133%+$13 · spread now −0.130%, 7d avg −0.005%

Together, before fees−0.074%+ Points / potential airdropLighter RH: Points live · farm board−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Lighter RH is 0.125% cheaper against KuCoin than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.005%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CRCLUSDTM	93.520	0.0100	pay 0.0100% / 8h	6h 58m	$2.9M	$1.9M	20x
Short	Lighter RH CRCL	93.398	0.0032	get 0.0004% / 1h	58m 48s	$979K	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.130%Rate

Funding earned: −$14.28
Price spread: −0.130% → −0.005%: −$12.5
Slippage, 4 orders: −$81.05
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$119.83
Costs to cover: 0.931%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Lighter RH: live order book, 4 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, 3 min ago	1.60 bp	45.4 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH live order book, 4 min ago	2.35 bp	2.3 bp −$2	5.1 bp −$51	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
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	93.500	−0.021%	$935K	$591K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	93.420	−0.107%	$15.3M	$25.5M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	93.430	−0.097%	$427K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	93.540	+0.021%	$7.2M	$25.5M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	93.470	−0.053%	$16.6M	$34.4M	25x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	93.600	+0.086%	$62K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	93.550	+0.032%	$1.0M	$49K	10x	as long as short
Lighter RH CRCLshort	+0.0032%	1h	93.398	−0.130%	$979K	$2.9M	10x
Aftermath Perps CRCLUSD	+0.0037%	1h	93.696	+0.188%	$2K	$22K	5x	as long as short
QFEX CRCL-USD	+0.0042%	1h	93.440	−0.086%	$1.3M	$2.5M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest CRCL-USD-PERP	+0.0046%	1h	93.330	−0.203%	—	$37K	25x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	93.322	−0.212%	$71.0M	$41.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	93.434	−0.092%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	93.410	−0.118%	$1.0M	$5.6M	10x	as long as short
Variational Omni CRCL	+0.0059%	8h	93.569	+0.052%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0098%	8h	93.474	−0.049%	$766	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	93.469	−0.054%	$75K	$96K	10x	as long as short
KuCoin CRCLUSDTMlong	+0.0100%	8h	93.520	long leg	$2.9M	$1.9M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	93.750	+0.246%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	93.470	−0.053%	$932	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	93.529	+0.009%	$4	—	10x	as long as short
Polymarket Perps CRCL-USD	+0.0117%	1h	93.443	−0.082%	$362K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0121%	8h	93.390	−0.139%	$22.6M	$58.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0136%	1h	93.417	−0.111%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0137%	8h	93.320	−0.214%	$107.7M	$386.0M	50x	as long as short
Aster CRCLUSDT	+0.0138%	8h	93.484	−0.039%	$1.1M	$4.9M	20x	as long as short
Lighter CRCL	+0.0224%	1h	93.378	−0.152%	$3.0M	$2.3M	10x	as long as short
Nado CRCL-PERP	+0.0235%	1h	93.414	−0.114%	$154K	$89K	3x	as long as short
BloFin CRCL-USDT	+0.0257%	8h	93.160	−0.385%	$1.1M	$1.0M	20x	as long as short
Phoenix CRCL	+0.0296%	1h	93.653	+0.142%	$28K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	93.910	+0.417%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0521%	1h	93.640	+0.128%	$96K	$271K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0713%	1h	93.530	+0.011%	$4K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0940%	4h	93.809	+0.309%	$24K	$268K	10x	as long as short