Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0238%/8h= +26.0% APRpaid last 24h +0.061%

Price spread now: Lighter against Binance+0.048%7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs+$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$210.211% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.546%+$55 on $10k

Price spread, last 2 days (all we have)+0.007%+$1 · spread now +0.048%, 7d avg +0.055%

Together, before fees+0.553%+ Points / potential airdropLighter: Season 3 · farm board+$55 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.055%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CRCLUSDT	94.410	0.0058	pay 0.0058% / 8h	2h 05m	$108.4M	$389.3M	50x
Short	Lighter CRCL	94.455	0.0296	get 0.0037% / 1h	5m 31s	$3.1M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now +0.048%Rate

Funding earned: $49.88
Price spread: +0.048% → +0.055%: −$0.7
Slippage, 4 orders: −$11.15
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $28.03
Costs to cover: 0.211%
Break-even: 3.1 days

Slippage from Binance: live order book, 8 min ago; Lighter: live order book, 12 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 Binance live order book, 8 min ago	0.53 bp	8.1 bp −$8	15.4 bp −$154	47.6 bp −$4,756	216.1 bp −$108.1K
Sell Lighter live order book, 12 min ago	2.06 bp	2.1 bp −$2	6.3 bp −$63	41.4 bp −$4,140	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	+0.016%	$431K	$310K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.420	+0.011%	$7.2M	$27.8M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	94.483	+0.077%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.411	+0.001%	$50K	$1.2M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	0.0000%	1h	94.440	+0.032%	$4K	$771K	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.470	+0.064%	$1.0M	$50K	10x	as long as short
QFEX CRCL-USD	+0.0020%	1h	94.410	0.000%	$1.4M	$2.7M	10x	as long as short
Bybit CRCLUSDT	+0.0030%	8h	94.420	+0.011%	$15.5M	$25.9M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.454	+0.047%	$881K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0043%	1h	94.433	+0.024%	$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	−0.053%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.419	+0.010%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.413	+0.003%	$47K	$3K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	94.418	+0.008%	$70.9M	$42.9M	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.290	−0.127%	$1.1M	$5.9M	10x	as long as short
Extended CRCL_24_5-USD	+0.0056%	1h	94.398	−0.012%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDTlong	+0.0058%	8h	94.410	long leg	$108.4M	$389.3M	50x
Aster CRCLUSDT	+0.0095%	8h	94.477	+0.071%	$1.1M	$4.8M	20x	as long as short
Pacifica CRCL	+0.0100%	1h	94.416	+0.006%	$76K	$100K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.440	+0.032%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.360	−0.053%	$69K	$5K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.410	0.000%	$941	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.444	+0.036%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0144%	8h	94.453	+0.046%	$775	$740	5x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0144%	1h	94.390	−0.021%	$939K	$743K	10x	as long as short
BloFin CRCL-USDT	+0.0176%	8h	94.400	−0.011%	$1.1M	$588K	20x	as long as short
Nado CRCL-PERP	+0.0201%	1h	94.426	+0.017%	$127K	$73K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0211%	8h	94.420	+0.011%	$22.8M	$60.6M	50x	as long as short
Phoenix CRCL	+0.0228%	1h	94.343	−0.071%	$28K	$92K	10x	as long as short
Lighter CRCLshort	+0.0296%	1h	94.455	+0.048%	$3.1M	$2.4M	10x
Bitget CRCLUSDT	+0.0324%	8h	94.440	+0.032%	$16.7M	$35.2M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.920	+0.540%	$5K	$20K	30x	as long as short
Arcus CRCL-USD	+0.0560%	1h	94.420	+0.011%	$97K	$274K	10x	as long as short
edgeX CRCLUSDC	+0.0614%	4h	94.419	+0.010%	$24K	$267K	10x	as long as short