Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0049%/8h= −5.4% APRpaid last 24h +0.029%

Price spread now: Extended against Bitget−0.033%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$310.306% of the position

Long on Bitget Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.046%−$5 on $10k

Price spread, last 4 days (all we have)+0.123%+$12 · spread now −0.033%, 7d avg −0.051%

Together, before fees+0.078%+ Points / potential airdropExtended: Active · farm board+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.051%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CRCLUSDT	94.720	0.0297	pay 0.0297% / 8h	7h 58m	$17.0M	$35.3M	25x
Short	Extended CRCL_24_5-USD	94.688	0.0248	get 0.0031% / 1h	58m 21s	$1.1M	$3.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.033%Rate

Funding earned: −$10.29
Price spread: −0.033% → −0.051%: $1.75
Slippage, 4 orders: −$13.64
Fee Bitget: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$39.18
Costs to cover: 0.306%
Break-even: never at this rate

Slippage from Bitget: live order book, 11 min ago; Extended: live order book, 5 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, 11 min ago	1.59 bp	10.7 bp −$11	15.4 bp −$154	45.4 bp −$4,537	doesn't fit
Sell Extended live order book, 5 min ago	0.47 bp	5.1 bp −$5	25.0 bp −$250	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	94.400	−0.338%	$939K	$722K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.710	−0.011%	$7.3M	$26.8M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.680	−0.042%	$1.0M	$52K	10x	as long as short
Bybit CRCLUSDT	+0.0006%	8h	94.740	+0.021%	$15.6M	$25.9M	50x	as long as short
Nado CRCL-PERP	+0.0024%	1h	94.598	−0.129%	$133K	$76K	3x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.744	+0.025%	$894K	$2.8M	10x	as long as short
QFEX CRCL-USD	+0.0042%	1h	94.690	−0.032%	$1.4M	$2.7M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.680	−0.042%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0047%	1h	94.640	−0.085%	$2K	$21K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.682	−0.040%	$367K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX CRCL-USD	+0.0050%	1h	94.736	+0.017%	$48K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.600	−0.127%	$1.1M	$5.9M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.632	−0.093%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.720	0.000%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.610	−0.116%	$70K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.720	0.000%	$944	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.712	−0.008%	$4	—	10x	as long as short
tradeXYZ xyz:CRCL	+0.0104%	1h	94.677	−0.045%	$71.8M	$43.7M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0116%	8h	94.683	−0.040%	$776	$740	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0172%	8h	94.770	+0.053%	$22.9M	$60.9M	50x	as long as short
Variational Omni CRCL	+0.0187%	8h	94.692	−0.029%	$2.5M	$3.1M	—	as long as short
Binance CRCLUSDT	+0.0248%	8h	94.738	+0.019%	$109.6M	$390.6M	50x	as long as short
Extended CRCL_24_5-USDshort	+0.0248%	1h	94.688	−0.033%	$1.1M	$3.8M	10x
Aster CRCLUSDT	+0.0249%	8h	94.648	−0.076%	$1.1M	$4.9M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0252%	8h	94.725	+0.005%	$55K	$1.1M	10x	as long as short
Phoenix CRCL	+0.0288%	1h	94.679	−0.043%	$28K	$92K	10x	as long as short
Bitget CRCLUSDTlong	+0.0297%	8h	94.720	long leg	$17.0M	$35.3M	25x
BloFin CRCL-USDT	+0.0368%	8h	94.700	−0.021%	$1.1M	$595K	20x	as long as short
edgeX CRCLUSDC	+0.0426%	4h	94.695	−0.026%	$24K	$269K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.170	+0.475%	$5K	$19K	30x	as long as short
Lighter CRCL	+0.0520%	1h	94.749	+0.031%	$3.1M	$2.2M	10x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.680	−0.042%	$97K	$276K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	94.722	+0.002%	$432K	$303K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0913%	1h	94.700	−0.021%	$4K	$772K	10x	as long as short