Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.018%

Price spread now: SoDEX against KuCoin−0.094%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SoDEX is 0.094% cheaper against KuCoin than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CRCLUSDTM	91.620	0.0100	pay 0.0100% / 8h	4h 33m	$2.7M	$2.0M	20x
Short	SoDEX CRCL-USD	91.534	0.0050	get 0.0006% / 1h	33m 14s	$46K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.094%Rate

Funding earned: −$10.5
Price spread: −0.094% → 0.000%: −$9.39
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$39.89
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 4 min ago; SoDEX: 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, 4 min ago	1.09 bp	52.2 bp −$52	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
Bitget CRCLUSDT	−0.1035%	8h	91.670	+0.055%	$16.2M	$34.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0068%	1h	91.320	−0.327%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.601	−0.021%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.592	−0.030%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.650	+0.033%	$104.4M	$388.9M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.690	+0.076%	$14.9M	$26.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.580	−0.044%	$416K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.650	+0.033%	$7.2M	$27.1M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.439	−0.198%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.541	−0.087%	$65K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.600	−0.022%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0013%	8h	91.670	+0.055%	$21.9M	$60.8M	50x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.500	−0.131%	$903K	$489K	10x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.550	−0.076%	$1.3M	$2.0M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0029%	1h	91.617	−0.004%	$2K	$24K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.678	+0.063%	$972K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.530	−0.098%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.554	−0.072%	$68.3M	$41.6M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.551	−0.075%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USDshort	+0.0050%	1h	91.534	−0.094%	$46K	$3K	10x
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.410	−0.229%	$992K	$5.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0086%	8h	91.538	−0.089%	$421	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.529	−0.099%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTMlong	+0.0100%	8h	91.620	long leg	$2.7M	$2.0M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	91.500	−0.131%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.610	−0.011%	$913	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.592	−0.031%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.660	+0.044%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.525	−0.104%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0152%	1h	91.685	+0.071%	$3.0M	$2.4M	10x	as long as short
edgeX CRCLUSDC	+0.0281%	4h	91.498	−0.134%	$51K	$276K	10x	as long as short
Nado CRCL-PERP	+0.0290%	1h	91.483	−0.150%	$130K	$104K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.090	+0.513%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0843%	1h	91.610	−0.011%	$4K	$767K	10x	as long as short