Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0672%/8h= +73.5% APRpaid last 24h +0.081%

Price spread now: edgeX against BloFin+0.079%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs+$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$400.403% of the position

Long on BloFin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.428%+$43 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now +0.079%, 7d avg +0.004%

Together, before fees+0.397%+ Points / potential airdropedgeX: Active · farm board+$40 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and edgeX is 0.075% dearer against BloFin than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.004%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.428% in total (about 22.3% 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	BloFin CRCL-USDT	91.170	0.0322	pay 0.0322% / 8h	14m 06s	$1.1M	$1.7M	20x
Short	edgeX CRCLUSDC	91.242	0.0993	get 0.0497% / 4h	14m 06s	$52K	$271K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against BloFin. 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 BloFinbpFee edgeXbpOrdersPrice spread, now +0.079%Rate

Funding earned: $141.03
Price spread: +0.079% → +0.004%: $7.48
Slippage, 4 orders: −$19.31
Fee BloFin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $108.19
Costs to cover: 0.403%
Break-even: 1.6 days

Slippage from BloFin: live order book, 4 min ago; edgeX: live order book, 24 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 BloFin live order book, 4 min ago	1.64 bp	9.7 bp −$10	12.7 bp −$127	28.9 bp −$2,887	doesn't fit
Sell edgeX live order book, 24 min ago	6.01 bp	11.5 bp −$11	24.1 bp −$241	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	−0.0362%	8h	91.430	+0.285%	$17.5M	$36.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0079%	1h	90.950	−0.241%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.360	+0.208%	$7.9M	$27.8M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.360	+0.208%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.302	+0.145%	$983K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.190	+0.022%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.180	+0.011%	$95K	$296K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.242	+0.079%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.090	−0.088%	$1.1M	$4.8M	10x	as long as short
Bybit CRCLUSDT	+0.0054%	8h	91.330	+0.175%	$14.8M	$26.5M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.230	+0.066%	$1.3M	$1.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.070	−0.110%	$871K	$500K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0091%	1h	91.232	+0.068%	$67.3M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.200	+0.033%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.240	+0.077%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.190	+0.022%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.280	+0.121%	$910	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.291	+0.133%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0120%	8h	91.211	+0.045%	$2.4M	$3.2M	—	as long as short
Polymarket Perps CRCL-USD	+0.0151%	1h	91.220	+0.055%	$378K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0155%	8h	91.238	+0.075%	$420	$905	5x	as long as short
Aster CRCLUSDT	+0.0186%	8h	91.308	+0.151%	$1.0M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0200%	1h	91.252	+0.090%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0203%	8h	91.303	+0.146%	$104.8M	$389.4M	50x	as long as short
Phoenix CRCL	+0.0227%	1h	91.195	+0.027%	$27K	$74K	10x	as long as short
Lighter CRCL	+0.0240%	1h	91.299	+0.141%	$2.9M	$2.4M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0247%	8h	91.319	+0.163%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0277%	8h	91.340	+0.186%	$22.3M	$61.7M	50x	as long as short
BloFin CRCL-USDTlong	+0.0322%	8h	91.170	long leg	$1.1M	$1.7M	20x
Deribit CRCL_USDC-PERPETUAL	+0.0408%	1h	91.260	+0.099%	$5K	$769K	10x	as long as short
Nado CRCL-PERP	+0.0430%	1h	91.199	+0.032%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.710	+0.592%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.250	+0.088%	$412K	$272K	10x	as long as short
edgeX CRCLUSDCshort	+0.0993%	4h	91.242	+0.079%	$52K	$271K	10x