Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h −0.047%

Price spread now: KuCoin against Lighter−0.076%7-day average −0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$158as in the Funding arb table

Net, price: spread back to 7d avg − costs−$113as in the Price arb table

costs, in and out, $10k−$1111.107% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.475%−$48 on $10k

Price spread, last 7 days−0.009%−$1 · spread now −0.076%, 7d avg −0.053%

Together, before fees−0.484%+ Points / potential airdropLighter: Season 3 · farm board−$48 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and KuCoin is 0.023% cheaper against Lighter than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.053%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CRCL	91.720	0.0216	pay 0.0027% / 1h	24m 40s	$3.0M	$2.4M	10x
Short	KuCoin CRCLUSDTM	91.650	0.0100	get 0.0100% / 8h	5h 24m	$2.8M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Lighter. 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 LighterbpFee KuCoinbpOrdersPrice spread, now −0.076%Rate

Funding earned: −$24.36
Price spread: −0.076% → −0.053%: −$2.3
Slippage, 4 orders: −$98.73
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$137.38
Costs to cover: 1.107%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; KuCoin: live order book, 2 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 Lighter live order book, 3 min ago	3.55 bp	7.6 bp −$8	15.1 bp −$151	42.9 bp −$4,292	doesn't fit
Sell KuCoin live order book, 2 min ago	2.18 bp	29.6 bp −$30	doesn't fit	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
Bitget CRCLUSDT	−0.1307%	8h	91.720	0.000%	$15.8M	$34.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0077%	1h	91.390	−0.360%	—	$31K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.470	−0.273%	$903K	$518K	10x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.684	−0.039%	$1.1M	$4.9M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.637	−0.091%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.693	−0.029%	$104.5M	$385.0M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.720	0.000%	$15.1M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.626	−0.103%	$418K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.710	−0.011%	$7.1M	$26.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.576	−0.157%	$2.4M	$3.2M	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT CRCL_USDT_Perp	0.0000%	8h	91.605	−0.125%	$65K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.650	−0.076%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0008%	8h	91.720	0.000%	$21.5M	$59.4M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0020%	1h	91.625	−0.103%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.640	−0.087%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.723	+0.003%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.580	−0.153%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.642	−0.085%	$68.5M	$41.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.623	−0.106%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.630	−0.098%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.570	−0.164%	$974K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0069%	8h	91.637	−0.091%	$751	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.650	−0.076%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTMshort	+0.0100%	8h	91.650	−0.076%	$2.8M	$1.9M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	91.560	−0.174%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.650	−0.076%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.661	−0.064%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.670	−0.055%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0183%	1h	91.546	−0.190%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0191%	1h	91.664	−0.061%	$131K	$104K	3x	as long as short
Lighter CRCLlong	+0.0216%	1h	91.720	long leg	$3.0M	$2.4M	10x
Injective CRCL/USDC PERP	+0.0440%	1h	92.130	+0.447%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0514%	1h	91.680	−0.044%	$4K	$767K	10x	as long as short
edgeX CRCLUSDC	+0.0554%	4h	91.597	−0.135%	$23K	$248K	10x	as long as short