Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0050%/8h= −5.4% APRpaid last 24h −0.028%

Price spread now: Ondo Perps against KuCoin+0.128%7-day average −0.166% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.204%−$20 on $10k

Price spread, last 7 days−0.585%−$59 · spread now +0.128%, 7d avg −0.166%

Together, before fees−0.789%+ Points / potential airdropOndo Perps: Active · farm board−$79 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Ondo Perps is 0.295% dearer against KuCoin than usual: you sell high and buy low (spread +0.128% now, against its 7-day average of −0.166%): +$29 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 20 days.

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	7h 00m	$2.9M	$1.9M	20x
Short	Ondo Perps CRCL-USD.P	93.610	0.0050	get 0.0006% / 1h	0m 06s	$1.0M	$5.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now +0.128%Rate

Funding earned: −$10.42
Price spread: +0.128% → −0.166%: $29.46
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $2.05
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 2 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	93.480	−0.011%	$15.3M	$25.4M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	93.510	+0.021%	$7.2M	$27.2M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	93.500	+0.011%	$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	93.479	−0.012%	$979K	$3.0M	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
Vest CRCL-USD-PERP	+0.0046%	1h	93.380	−0.118%	—	$37K	25x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CRCL	+0.0050%	1h	93.400	−0.096%	$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.Pshort	+0.0050%	1h	93.610	+0.128%	$1.0M	$5.7M	10x
Variational Omni CRCL	+0.0059%	8h	93.569	+0.084%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0097%	8h	93.504	+0.015%	$767	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	93.541	+0.055%	$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	+0.0123%	8h	93.460	−0.032%	$22.6M	$58.6M	50x	as long as short
Extended CRCL_24_5-USD	+0.0136%	1h	93.437	−0.057%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0138%	8h	93.418	−0.077%	$107.8M	$385.7M	50x	as long as short
Aster CRCLUSDT	+0.0141%	8h	93.458	−0.034%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0234%	1h	93.424	−0.071%	$154K	$89K	3x	as long as short
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	93.496	+0.006%	$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	93.720	+0.246%	$96K	$271K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	93.524	+0.036%	$427K	$297K	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