Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0412%/8h= −45.2% APRpaid last 24h −0.004%

Price spread now: Paradex against Arcus+0.020%7-day average — · you sell dearer than you buy

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

Long on Arcus Short on Paradex

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—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.020% dearer against Arcus than usual: you sell high and buy low (spread +0.020% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 4 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus CRCL-USD	94.770	0.0533	pay 0.0067% / 1h	18m 28s	$97K	$275K	10x
Short	Paradex CRCL-USD-PERP	94.789	0.0120	get 0.0120% / 8h	18m 28s	$777	$740	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$86.62
Price spread: +0.020% → 0.000%: $2.01
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$93.11
Costs to cover: 0.085%
Break-even: never at this rate

Slippage unknown: Arcus: live order book, 60 min ago; Paradex: 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 Arcus live order book, 60 min ago	3.18 bp	9.2 bp −$9	9.6 bp −$96	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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
Gate CRCL_USDT	0.0000%	8h	94.810	+0.042%	$7.3M	$27.7M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.730	−0.042%	$1.0M	$52K	10x	as long as short
QFEX CRCL-USD	+0.0022%	1h	94.760	−0.011%	$1.4M	$2.8M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.811	+0.043%	$895K	$2.9M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	94.510	−0.274%	$940K	$723K	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.680	−0.095%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.782	+0.013%	$367K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.754	−0.017%	$48K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.630	−0.148%	$1.1M	$5.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0053%	1h	94.779	+0.009%	$2K	$21K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica CRCL	+0.0100%	1h	94.760	−0.011%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.750	−0.021%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.620	−0.158%	$70K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.630	−0.148%	$943	$3K	10x	as long as short
Bybit CRCLUSDT	+0.0103%	8h	94.690	−0.084%	$15.6M	$25.9M	50x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.812	+0.045%	$4	—	10x	as long as short
Paradex CRCL-USD-PERPshort	+0.0120%	8h	94.789	+0.020%	$777	$740	5x
tradeXYZ xyz:CRCL	+0.0172%	1h	94.749	−0.022%	$71.2M	$42.9M	10x	as long as short
Variational Omni CRCL	+0.0184%	8h	94.712	−0.061%	$2.5M	$3.1M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0197%	8h	94.610	−0.169%	$22.9M	$60.8M	50x	as long as short
GRVT CRCL_USDT_Perp	+0.0233%	8h	94.746	−0.025%	$61K	$1.1M	10x	as long as short
Binance CRCLUSDT	+0.0247%	8h	94.810	+0.042%	$109.9M	$390.2M	50x	as long as short
Extended CRCL_24_5-USD	+0.0248%	1h	94.762	−0.008%	$1.1M	$3.8M	10x	as long as short
Aster CRCLUSDT	+0.0251%	8h	94.730	−0.042%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0273%	1h	94.723	−0.050%	$127K	$73K	3x	as long as short
Phoenix CRCL	+0.0288%	1h	94.779	+0.009%	$28K	$92K	10x	as long as short
Bitget CRCLUSDT	+0.0305%	8h	94.770	0.000%	$16.9M	$35.4M	25x	as long as short
Lighter CRCL	+0.0352%	1h	94.812	+0.044%	$3.1M	$2.2M	10x	as long as short
BloFin CRCL-USDT	+0.0365%	8h	94.810	+0.042%	$1.1M	$601K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.560	+0.834%	$5K	$19K	30x	as long as short
Arcus CRCL-USDlong	+0.0533%	1h	94.770	long leg	$97K	$275K	10x
RISEx CRCL/USDC	+0.0534%	1h	94.800	+0.031%	$432K	$303K	10x	as long as short
edgeX CRCLUSDC	+0.0768%	4h	94.705	−0.069%	$24K	$268K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0911%	1h	94.820	+0.053%	$4K	$772K	10x	as long as short