Recently, I have also been researching this direction, but I am still a beginner, so I hope to learn from the experts.

According to the lunch teacher, the funding rate for $CRCL on Binance is indeed outrageously high, so arbitraging the funding rate should be a good plan.

Since this is an arbitrage, it must be a relatively low-risk plan. Currently, what I am thinking is to buy $100,000 worth of CRCL stocks from the broker, and then short $100,000 1x CRCLUSDT on Binance to take advantage of the funding rate.

This should be the most basic method, but considering that if CRCL skyrockets, there might be risks, I will add two steps. The first step is to buy OTM CALL options, for example, buying options for CRCL at $150, and then preparing 1.5 times the margin on Binance to prevent extreme market conditions.

I plan to buy about 3 OTM CALL options, and there is a formula here.

For example, if I short $100,000 CRCLUSDT, the funding rate is 0.5% per 8 hours.

Three periods in one day would be approximately:

$100,000 × 0.5% × 3 = $1,500 per day

If I plan to hold for 3 days, the theoretical funding cost is approximately:

$1,500 × 3 = $4,500

However, the total capital I need to leverage is around $280,000. After deducting the $1,500 cost of OTM CALL options and some miscellaneous fees, the approximate profit is around $2,800, resulting in an actual annualized return of about 100%.

If it were me, I would suggest that friends who have positions in $CRCL should consider short-term arbitrage to take advantage of the funding rate. If you don’t have a position in CRCL, this kind of arbitrage feels a bit exhausting.

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