Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0280%/8h= −30.6% APRpaid last 24h −0.069%

Price spread now: Pacifica against BloFin+0.103%7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$640.636% of the position

Long on BloFin Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.330%−$33 on $10k

Price spread, last 4 days (all we have)−0.076%−$8 · spread now +0.103%, 7d avg −0.017%

Together, before fees−0.406%+ Points / potential airdropPacifica: Active · farm board−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.121% dearer against BloFin than usual: you sell high and buy low (spread +0.103% now, against its 7-day average of −0.017%): +$12 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin CRCL-USDT	95.420	0.0380	pay 0.0380% / 8h	4h 48m	$1.1M	$1.8M	20x
Short	Pacifica CRCL	95.519	0.0100	get 0.0013% / 1h	48m 16s	$143K	$151K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.103%Rate

Funding earned: −$58.77
Price spread: +0.103% → −0.017%: $12.06
Slippage, 4 orders: −$43.57
Fee BloFin: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$110.28
Costs to cover: 0.636%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Pacifica: live order book, 57 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, 3 min ago	1.04 bp	8.3 bp −$8	12.7 bp −$127	15.6 bp −$1,564	57.9 bp −$29.0K
Sell Pacifica live order book, 57 min ago	8.07 bp	25.7 bp −$26	doesn't fit	doesn't fit	doesn't fit

CRCL on 34 exchanges

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	−0.0024%	1h	95.330	−0.094%	$869K	$803K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	95.590	+0.178%	$15.8M	$29.0M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	95.506	+0.090%	$425K	$228K	10x	as long as short
Bitget CRCLUSDT	0.0000%	8h	95.660	+0.252%	$19.4M	$39.4M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	95.410	−0.010%	$1.1M	$47K	10x	as long as short
QFEX CRCL-USD	+0.0014%	1h	95.570	+0.157%	$1.4M	$1.7M	10x	as long as short
Gate CRCL_USDT	+0.0029%	8h	95.560	+0.147%	$7.7M	$26.6M	50x	as long as short
Injective CRCL/USDC PERP	+0.0033%	1h	95.630	+0.220%	$39K	$172K	30x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	95.274	−0.153%	$2K	$29K	5x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	95.500	+0.084%	—	$29K	25x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	95.390	−0.031%	$1.1M	$4.3M	10x	as long as short
Arcus CRCL-USD	+0.0057%	1h	95.460	+0.042%	$96K	$239K	10x	as long as short
Lighter RH CRCL	+0.0064%	1h	95.430	+0.010%	$1.0M	$2.7M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0065%	1h	95.460	+0.042%	$69.3M	$44.4M	10x	as long as short
Pacifica CRCLshort	+0.0100%	1h	95.519	+0.103%	$143K	$151K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	95.410	−0.010%	$2.5M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	95.370	−0.052%	$98K	$26K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	95.530	+0.115%	$753	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	95.405	−0.016%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0108%	8h	95.429	+0.009%	$439	$477	5x	as long as short
Phoenix CRCL	+0.0136%	1h	95.413	−0.007%	$28K	$94K	10x	as long as short
Variational Omni CRCL	+0.0157%	8h	95.650	+0.241%	$2.7M	$3.3M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0217%	8h	95.650	+0.241%	$23.6M	$67.4M	50x	as long as short
edgeX CRCLUSDC	+0.0250%	4h	95.480	+0.063%	$55K	$278K	10x	as long as short
Extended CRCL_24_5-USD	+0.0264%	1h	95.584	+0.172%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0264%	8h	95.587	+0.175%	$112.1M	$394.3M	50x	as long as short
Aster CRCLUSDT	+0.0282%	8h	95.547	+0.133%	$1.2M	$4.8M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0299%	8h	95.530	+0.115%	$66K	$1.0M	10x	as long as short
Nado CRCL-PERP	+0.0377%	1h	95.397	−0.024%	$153K	$93K	3x	as long as short
BloFin CRCL-USDTlong	+0.0380%	8h	95.420	long leg	$1.1M	$1.8M	20x
Polymarket Perps CRCL-USD	+0.0403%	1h	95.525	+0.110%	$319K	$1.2M	10x	as long as short
Lighter CRCL	+0.0440%	1h	95.611	+0.200%	$3.3M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.1216%	1h	95.640	+0.231%	$5K	$415K	10x	as long as short
SoDEX CRCL-USD	+0.1747%	1h	95.612	+0.201%	$48K	$3K	10x	as long as short