Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0134%/8h= +14.6% APRpaid last 24h +0.035%

Price spread now: Nado against KuCoin−0.071%51s7-day average −0.010% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1021.016% of the position

Long on KuCoin Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.093%+$9 on $10k

Price spread, last 3 days (all we have)+0.092%+$9 · spread now −0.071%, 7d avg −0.010%

Together, before fees+0.184%+ Points / potential airdropNado: Active · farm board+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.060% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.071% now, against its 7-day average of −0.010%). If the spread goes back, that is −$6 on $10k: about 36 hours of funding at the current rate (+$4 a day). The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CRCLUSDTM	93.490	0.0100	pay 0.0100% / 8h	6h 59m	$2.9M	$1.9M	20x
Short	Nado CRCL-PERP	93.424	0.0234	get 0.0029% / 1h	59m 44s	$154K	$89K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.071%Rate

Funding earned: $28.05
Price spread: −0.071% → −0.010%: −$6.01
Slippage, 4 orders: −$82.57
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$79.52
Costs to cover: 1.016%
Break-even: 26.8 days

Slippage from KuCoin: live order book, 2 min ago; Nado: live order book, 8 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	1.60 bp	45.4 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 8 min ago	1.60 bp	6.1 bp −$6	23.9 bp −$239	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	−0.0064%	1h	93.500	+0.011%	$935K	$591K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	93.460	−0.032%	$15.3M	$25.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	93.430	−0.065%	$427K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	93.520	+0.032%	$7.2M	$25.5M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	93.490	0.000%	$16.6M	$34.4M	25x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	93.950	+0.492%	$62K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	93.530	+0.043%	$1.0M	$49K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	93.499	+0.010%	$979K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	93.768	+0.297%	$2K	$22K	5x	as long as short
QFEX CRCL-USD	+0.0042%	1h	93.500	+0.011%	$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	93.380	−0.118%	—	$37K	25x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	93.427	−0.067%	$71.4M	$40.9M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	93.483	−0.007%	$362K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	93.460	−0.032%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	93.410	−0.086%	$1.0M	$5.6M	10x	as long as short
Variational Omni CRCL	+0.0059%	8h	93.569	+0.084%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0098%	8h	93.474	−0.017%	$766	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	93.469	−0.022%	$75K	$96K	10x	as long as short
KuCoin CRCLUSDTMlong	+0.0100%	8h	93.490	long leg	$2.9M	$1.9M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	93.750	+0.278%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	93.450	−0.043%	$932	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	93.504	+0.015%	$4	—	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0121%	8h	93.450	−0.043%	$22.6M	$58.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0136%	1h	93.416	−0.079%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0137%	8h	93.465	−0.027%	$107.8M	$385.8M	50x	as long as short
Aster CRCLUSDT	+0.0138%	8h	93.442	−0.051%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERPshort	+0.0234%	1h	93.424	−0.071%	$154K	$89K	3x
BloFin CRCL-USDT	+0.0261%	8h	93.460	−0.032%	$1.1M	$690K	20x	as long as short
Phoenix CRCL	+0.0296%	1h	93.980	+0.524%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0328%	1h	93.525	+0.037%	$3.0M	$2.3M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.210	+0.770%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0521%	1h	93.640	+0.160%	$96K	$271K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0713%	1h	93.500	+0.011%	$4K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0940%	4h	93.809	+0.341%	$24K	$268K	10x	as long as short