Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0103%/8h= −11.3% APRpaid last 24h −0.026%

Price spread now: SoDEX against Binance+0.038%7-day average — · you sell dearer than you buy

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

Long on Binance Short on SoDEX

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—needs both histories

The price spread pays, funding is against you. SoDEX is 0.038% dearer against Binance than usual: you sell high and buy low (spread +0.038% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 30 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CRCLUSDT	93.889	0.0153	pay 0.0153% / 8h	7h 03m	$108.7M	$385.2M	50x
Short	SoDEX CRCL-USD	93.925	0.0050	get 0.0006% / 1h	3m 51s	$47K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$21.73
Price spread: +0.038% → 0.000%: $3.84
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$35.89
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 10 min ago; SoDEX: 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 Binance live order book, 10 min ago	0.53 bp	6.8 bp −$7	11.2 bp −$112	34.1 bp −$3,406	178.5 bp −$89.2K
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
Coinbase International CRCL-PERP-INTX	−0.0064%	1h	94.000	+0.118%	$940K	$620K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	93.860	−0.031%	$15.4M	$25.4M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	93.970	+0.086%	$7.2M	$27.1M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	93.950	+0.065%	$16.7M	$34.3M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	93.970	+0.086%	$1.0M	$49K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	93.949	+0.064%	$983K	$2.9M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0035%	8h	94.270	+0.406%	$62K	$1.1M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	94.018	+0.137%	$2K	$22K	5x	as long as short
QFEX CRCL-USD	+0.0042%	1h	93.960	+0.076%	$1.4M	$2.5M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	93.840	−0.052%	—	$37K	25x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CRCL	+0.0050%	1h	93.876	−0.014%	$71.5M	$40.6M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	93.980	+0.097%	$364K	$1.1M	10x	as long as short
SoDEX CRCL-USDshort	+0.0050%	1h	93.925	+0.038%	$47K	$3K	10x
Ondo Perps CRCL-USD.P	+0.0050%	1h	93.880	−0.010%	$1.1M	$5.7M	10x	as long as short
Variational Omni CRCL	+0.0078%	8h	93.978	+0.094%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0099%	8h	93.954	+0.069%	$770	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	93.930	+0.044%	$75K	$96K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	93.960	+0.076%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.140	+0.267%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.000	+0.118%	$937	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	93.976	+0.092%	$4	—	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0128%	8h	93.860	−0.031%	$22.7M	$58.7M	50x	as long as short
Extended CRCL_24_5-USD	+0.0152%	1h	93.887	−0.002%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDTlong	+0.0153%	8h	93.889	long leg	$108.7M	$385.2M	50x
Aster CRCLUSDT	+0.0156%	8h	93.992	+0.110%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0227%	1h	93.852	−0.039%	$131K	$76K	3x	as long as short
BloFin CRCL-USDT	+0.0278%	8h	93.940	+0.054%	$1.1M	$576K	20x	as long as short
Phoenix CRCL	+0.0296%	1h	93.980	+0.097%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0320%	1h	93.987	+0.104%	$3.0M	$2.3M	10x	as long as short
edgeX CRCLUSDC	+0.0340%	4h	94.103	+0.228%	$24K	$267K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.670	+0.832%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.030	+0.150%	$96K	$271K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	93.990	+0.108%	$428K	$297K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.1029%	1h	93.970	+0.086%	$4K	$769K	10x	as long as short