Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0055%/8h= +6.0% APRpaid last 24h +0.123%

Price spread now: edgeX against Arcus−0.001%7-day average +0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$570.565% of the position

Long on Arcus Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.451%+$45 on $10k

Price spread, last 3 days (all we have)+0.367%+$37 · spread now −0.001%, 7d avg +0.060%

Together, before fees+0.819%+ Points / potential airdropedgeX: Active · farm board+$82 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.061% cheaper against Arcus than usual: you would sell low and buy high (spread −0.001% now, against its 7-day average of +0.060%). If the spread goes back, that is −$6 on $10k: about 3.7 days of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.451% in total) that is about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus CRCL-USD	94.420	0.0560	pay 0.0070% / 1h	5m 30s	$97K	$274K	10x
Short	edgeX CRCLUSDC	94.419	0.0614	get 0.0307% / 4h	2h 05m	$24K	$267K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Arcus. 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 ArcusbpFee edgeXbpOrdersPrice spread, now −0.001%Rate

Funding earned: $11.51
Price spread: −0.001% → +0.060%: −$6.07
Slippage, 4 orders: −$43
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$51.07
Costs to cover: 0.565%
Break-even: 38.1 days

Slippage from Arcus: live order book, 18 min ago; edgeX: live order book, 17 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 Arcus live order book, 18 min ago	3.17 bp	10.2 bp −$10	10.7 bp −$107	doesn't fit	doesn't fit
Sell edgeX live order book, 17 min ago	10.05 bp	25.5 bp −$26	37.9 bp −$379	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
RISEx CRCL/USDC	0.0000%	1h	94.425	+0.005%	$431K	$310K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.420	0.000%	$7.2M	$27.8M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	94.483	+0.066%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.411	−0.010%	$50K	$1.2M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	0.0000%	1h	94.440	+0.021%	$4K	$771K	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.470	+0.053%	$1.0M	$50K	10x	as long as short
QFEX CRCL-USD	+0.0020%	1h	94.410	−0.011%	$1.4M	$2.7M	10x	as long as short
Bybit CRCLUSDT	+0.0030%	8h	94.420	0.000%	$15.5M	$25.9M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.454	+0.036%	$881K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0043%	1h	94.433	+0.013%	$2K	$19K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest CRCL-USD-PERP	+0.0046%	1h	94.360	−0.064%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.419	−0.001%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.413	−0.007%	$47K	$3K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	94.418	−0.002%	$70.9M	$42.9M	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.290	−0.138%	$1.1M	$5.9M	10x	as long as short
Extended CRCL_24_5-USD	+0.0056%	1h	94.398	−0.023%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0058%	8h	94.410	−0.011%	$108.4M	$389.3M	50x	as long as short
Aster CRCLUSDT	+0.0095%	8h	94.477	+0.060%	$1.1M	$4.8M	20x	as long as short
Pacifica CRCL	+0.0100%	1h	94.416	−0.004%	$76K	$100K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.440	+0.021%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.360	−0.064%	$69K	$5K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.410	−0.011%	$941	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.444	+0.026%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0144%	8h	94.453	+0.035%	$775	$740	5x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0144%	1h	94.390	−0.032%	$939K	$743K	10x	as long as short
BloFin CRCL-USDT	+0.0176%	8h	94.400	−0.021%	$1.1M	$588K	20x	as long as short
Nado CRCL-PERP	+0.0201%	1h	94.426	+0.006%	$127K	$73K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0211%	8h	94.420	0.000%	$22.8M	$60.6M	50x	as long as short
Phoenix CRCL	+0.0228%	1h	94.343	−0.082%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0296%	1h	94.455	+0.037%	$3.1M	$2.4M	10x	as long as short
Bitget CRCLUSDT	+0.0324%	8h	94.440	+0.021%	$16.7M	$35.2M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.920	+0.530%	$5K	$20K	30x	as long as short
Arcus CRCL-USDlong	+0.0560%	1h	94.420	long leg	$97K	$274K	10x
edgeX CRCLUSDCshort	+0.0614%	4h	94.419	−0.001%	$24K	$267K	10x