Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0517%/8h= +56.6% APRpaid last 24h +0.105%

Price spread now: edgeX against Bitget+0.131%94s7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs+$16as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$410.408% of the position

Long on Bitget Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.570%+$57 on $10k

Price spread, last 3 days (all we have)+0.013%+$1 · spread now +0.131%, 7d avg −0.033%

Together, before fees+0.583%+ Points / potential airdropedgeX: Active · farm board+$58 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and edgeX is 0.164% dearer against Bitget than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.033%. The two prices were read 94 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CRCLUSDT	94.160	0	get 0.0000% / 8h	7h 07m	$16.9M	$34.3M	25x
Short	edgeX CRCLUSDC	94.284	0.0517	get 0.0258% / 4h	3h 07m	$24K	$267K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Bitget. 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 BitgetbpFee edgeXbpOrdersPrice spread, now +0.131%Rate

Funding earned: $108.57
Price spread: +0.131% → −0.033%: $16.41
Slippage, 4 orders: −$19.81
Fee Bitget: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $84.17
Costs to cover: 0.408%
Break-even: 1.6 days

Slippage from Bitget: live order book, 1 min ago; edgeX: live order book, 65 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 Bitget live order book, 1 min ago	0.53 bp	8.8 bp −$9	15.0 bp −$150	49.4 bp −$4,937	doesn't fit
Sell edgeX live order book, 65 min ago	5.82 bp	11.0 bp −$11	22.7 bp −$227	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
Coinbase International CRCL-PERP-INTX	−0.0064%	1h	94.100	−0.064%	$941K	$621K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	94.150	−0.011%	$15.5M	$25.3M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.210	+0.053%	$7.2M	$27.1M	50x	as long as short
Bitget CRCLUSDTlong	0.0000%	8h	94.160	long leg	$16.9M	$34.3M	25x
Phemex CRCLUSDT	0.0000%	4h	94.200	+0.042%	$1.0M	$49K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.179	+0.020%	$887K	$2.8M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	94.160	0.000%	$2K	$22K	5x	as long as short
QFEX CRCL-USD	+0.0042%	1h	94.170	+0.011%	$1.4M	$2.5M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.060	−0.106%	—	$37K	25x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	94.074	−0.091%	$71.5M	$40.4M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps CRCL-USD	+0.0050%	1h	94.149	−0.012%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.165	+0.005%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.100	−0.064%	$1.1M	$5.7M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0054%	8h	94.359	+0.211%	$71K	$1.1M	10x	as long as short
Variational Omni CRCL	+0.0091%	8h	94.279	+0.127%	$2.5M	$3.1M	—	as long as short
Pacifica CRCL	+0.0100%	1h	94.140	−0.021%	$75K	$96K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.200	+0.042%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.240	+0.085%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.160	0.000%	$939	$3K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0101%	8h	94.181	+0.022%	$772	$740	5x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.168	+0.009%	$4	—	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0134%	8h	94.150	−0.011%	$22.7M	$58.9M	50x	as long as short
Binance CRCLUSDT	+0.0167%	8h	94.144	−0.017%	$109.0M	$384.9M	50x	as long as short
Extended CRCL_24_5-USD	+0.0168%	1h	94.128	−0.034%	$1.1M	$5.5M	10x	as long as short
Aster CRCLUSDT	+0.0172%	8h	94.181	+0.022%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0228%	1h	94.092	−0.073%	$131K	$76K	3x	as long as short
BloFin CRCL-USDT	+0.0288%	8h	94.190	+0.032%	$1.1M	$577K	20x	as long as short
Phoenix CRCL	+0.0296%	1h	94.311	+0.160%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0328%	1h	94.199	+0.041%	$3.0M	$2.3M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.760	+0.637%	$5K	$19K	30x	as long as short
edgeX CRCLUSDCshort	+0.0517%	4h	94.284	+0.131%	$24K	$267K	10x
Arcus CRCL-USD	+0.0521%	1h	94.230	+0.074%	$96K	$271K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0600%	1h	94.170	+0.011%	$4K	$769K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	94.160	0.000%	$430K	$297K	10x	as long as short