Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h −0.042%

Price spread now: Lighter RH against Binance+0.027%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$230.234% of the position

Long on Binance Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.145%−$14 on $10k

Price spread, last 7 days−0.028%−$3 · spread now +0.027%, 7d avg +0.005%

Together, before fees−0.173%+ Points / potential airdropLighter RH: Points live · farm board−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Lighter RH is 0.023% dearer against Binance than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.005%. Mind the row above: over the last 7 days funding on this pair cost −0.145%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CRCLUSDT	91.960	0.0022	pay 0.0022% / 8h	3h 21m	$104.8M	$392.7M	50x
Short	Lighter RH CRCL	91.985	0.0032	get 0.0004% / 1h	21m 01s	$976K	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.027%Rate

Funding earned: $2.05
Price spread: +0.027% → +0.005%: $2.26
Slippage, 4 orders: −$13.37
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$19.06
Costs to cover: 0.234%
Break-even: 72.1 days

Slippage from Binance: live order book, 8 min ago; Lighter RH: live order book, 2 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	0.54 bp	7.4 bp −$7	12.4 bp −$124	34.2 bp −$3,415	doesn't fit
Sell Lighter RH live order book, 2 min ago	2.07 bp	6.0 bp −$6	10.5 bp −$105	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
Bitget CRCLUSDT	−0.0698%	8h	92.030	+0.076%	$16.7M	$35.8M	25x	as long as short
Vest CRCL-USD-PERP	−0.0061%	1h	91.710	−0.272%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.960	0.000%	$14.9M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.060	+0.109%	$7.3M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.999	+0.042%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.950	−0.011%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0014%	8h	91.943	−0.019%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDTlong	+0.0022%	8h	91.960	long leg	$104.8M	$392.7M	50x
Extended CRCL_24_5-USD	+0.0024%	1h	91.935	−0.027%	$1.2M	$5.7M	10x	as long as short
Lighter RH CRCLshort	+0.0032%	1h	91.985	+0.027%	$976K	$2.9M	10x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0039%	1h	91.888	−0.078%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.820	−0.152%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.770	−0.207%	$911K	$519K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.905	−0.060%	$68.3M	$41.9M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.935	−0.027%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.895	−0.071%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.720	−0.261%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.960	0.000%	$1.3M	$1.9M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0063%	8h	91.922	−0.041%	$423	$905	5x	as long as short
BloFin CRCL-USDT	+0.0089%	8h	92.000	+0.043%	$1.1M	$1.6M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0095%	8h	91.970	+0.011%	$22.3M	$61.8M	50x	as long as short
GRVT CRCL_USDT_Perp	+0.0096%	8h	91.880	−0.087%	$70K	$1.1M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.930	−0.033%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.920	−0.043%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.830	−0.141%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.900	−0.065%	$916	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.981	+0.022%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.954	−0.007%	$419K	$299K	10x	as long as short
Phoenix CRCL	+0.0182%	1h	91.770	−0.207%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0272%	1h	91.979	+0.021%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0356%	1h	91.837	−0.134%	$134K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.440	+0.522%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0611%	4h	91.826	−0.146%	$51K	$276K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.1056%	1h	91.980	+0.022%	$4K	$768K	10x	as long as short