Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0677%/8h= +74.1% APRpaid last 24h −0.026%

Price spread now: Pacifica against Bitget+0.067%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$880.877% of the position

Long on Bitget Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.162%−$16 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Pacifica is 0.067% dearer against Bitget than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.162%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.162% in total (about -8.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CRCLUSDT	92.160	−0.0577	get 0.0577% / 8h	6h 26m	$16.0M	$35.4M	25x
Short	Pacifica CRCL	92.221	0.0100	get 0.0013% / 1h	26m 53s	$129K	$153K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.067%Rate

Funding earned: $142.17
Price spread: +0.067% → 0.000%: $6.66
Slippage, 4 orders: −$67.69
Fee Bitget: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $61.14
Costs to cover: 0.877%
Break-even: 4.0 days

Slippage from Bitget: live order book, 2 min ago; Pacifica: live order book, 22 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, 2 min ago	1.08 bp	10.0 bp −$10	14.5 bp −$145	35.2 bp −$3,519	doesn't fit
Sell Pacifica live order book, 22 min ago	25.99 bp	33.0 bp −$33	doesn't fit	doesn't fit	doesn't fit

CRCL on 33 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 CRCLUSDTlong	−0.0577%	8h	92.160	long leg	$16.0M	$35.4M	25x
Vest CRCL-USD-PERP	−0.0018%	1h	91.960	−0.217%	—	$37K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	92.050	−0.119%	$916K	$583K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.150	−0.011%	$15.1M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.220	+0.065%	$421K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.140	−0.022%	$7.2M	$26.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.181	+0.022%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	92.306	+0.158%	$71K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.060	−0.109%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0025%	1h	92.160	−0.001%	$2K	$23K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	92.120	−0.043%	$979K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.180	+0.022%	$94K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.081	−0.086%	$69.3M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.162	+0.002%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.090	−0.076%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.130	−0.033%	$1.0M	$5.5M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	92.200	+0.043%	$1.3M	$2.4M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0070%	8h	92.160	0.000%	$21.8M	$60.4M	50x	as long as short
Extended CRCL_24_5-USD	+0.0072%	1h	92.094	−0.071%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0075%	8h	92.130	−0.033%	$105.1M	$393.2M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0078%	8h	92.204	+0.048%	$756	$740	5x	as long as short
Aster CRCLUSDT	+0.0079%	8h	92.160	0.000%	$1.1M	$4.9M	20x	as long as short
Pacifica CRCLshort	+0.0100%	1h	92.221	+0.067%	$129K	$153K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	92.180	+0.022%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.240	+0.087%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.160	0.000%	$919	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.114	−0.050%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0157%	1h	92.164	+0.004%	$131K	$103K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0184%	1h	92.110	−0.054%	$4K	$769K	10x	as long as short
Lighter CRCL	+0.0216%	1h	92.118	−0.046%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	92.258	+0.106%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.640	+0.521%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0920%	4h	92.305	+0.157%	$23K	$266K	10x	as long as short