Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.019%

Price spread now: Gate against tradeXYZ+0.118%7-day average +0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$500.495% of the position

Long on tradeXYZ Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 7 days−0.052%−$5 · spread now +0.118%, 7d avg +0.096%

Together, before fees+0.026%+ Points / potential airdroptradeXYZ: Active · farm board+$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.021% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.118% now, against its 7-day average of +0.096%): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 34 hours. Mind the row above: over the last 7 days funding on this pair paid +0.079%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:CRCL	93.400	0.0050	pay 0.0006% / 1h	0m 03s	$71.4M	$40.9M	10x
Short	Gate CRCL_USDT	93.510	0	get 0.0000% / 8h	7h 00m	$7.2M	$27.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against tradeXYZ. 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 tradeXYZbpFee GatebpOrdersPrice spread, now +0.118%Rate

Funding earned: −$10.5
Price spread: +0.118% → +0.096%: $2.14
Slippage, 4 orders: −$16.53
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$57.89
Costs to cover: 0.495%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 10 min ago; Gate: 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 tradeXYZ live order book, 10 min ago	0.74 bp	9.7 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	1.60 bp	18.0 bp −$18	33.9 bp −$339	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	+0.107%	$935K	$591K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	93.480	+0.086%	$15.3M	$25.4M	50x	as long as short
Gate CRCL_USDTshort	0.0000%	8h	93.510	+0.118%	$7.2M	$27.2M	50x
Bitget CRCLUSDT	0.0000%	8h	93.500	+0.107%	$16.6M	$34.4M	25x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	93.950	+0.589%	$62K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	93.530	+0.139%	$1.0M	$49K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	93.479	+0.085%	$979K	$3.0M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	93.768	+0.394%	$2K	$22K	5x	as long as short
QFEX CRCL-USD	+0.0042%	1h	93.500	+0.107%	$1.3M	$2.5M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	93.380	−0.021%	—	$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:CRCLlong	+0.0050%	1h	93.400	long leg	$71.4M	$40.9M	10x
Polymarket Perps CRCL-USD	+0.0050%	1h	93.483	+0.089%	$362K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	93.460	+0.064%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	93.610	+0.225%	$1.0M	$5.7M	10x	as long as short
Variational Omni CRCL	+0.0059%	8h	93.569	+0.181%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0097%	8h	93.504	+0.111%	$767	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	93.541	+0.151%	$75K	$96K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	93.490	+0.096%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	93.750	+0.375%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	93.450	+0.054%	$932	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	93.504	+0.111%	$4	—	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0123%	8h	93.460	+0.064%	$22.6M	$58.6M	50x	as long as short
Extended CRCL_24_5-USD	+0.0136%	1h	93.437	+0.039%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0138%	8h	93.418	+0.020%	$107.8M	$385.7M	50x	as long as short
Aster CRCLUSDT	+0.0141%	8h	93.458	+0.063%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0234%	1h	93.424	+0.026%	$154K	$89K	3x	as long as short
BloFin CRCL-USDT	+0.0261%	8h	93.460	+0.064%	$1.1M	$690K	20x	as long as short
Phoenix CRCL	+0.0296%	1h	93.980	+0.621%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0328%	1h	93.496	+0.103%	$3.0M	$2.3M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.210	+0.867%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0521%	1h	93.720	+0.343%	$96K	$271K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	93.524	+0.133%	$427K	$297K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0713%	1h	93.500	+0.107%	$4K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0940%	4h	93.809	+0.438%	$24K	$268K	10x	as long as short