Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0455%/8h= −49.8% APRpaid last 24h −0.072%

Price spread now: tradeXYZ against BloFin−0.068%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$380.378% of the position

Long on BloFin Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.343%−$34 on $10k

Price spread, last 4 days (all we have)+0.081%+$8 · spread now −0.068%, 7d avg −0.034%

Together, before fees−0.262%+ Points / potential airdroptradeXYZ: Active · farm board−$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and tradeXYZ is 0.034% cheaper against BloFin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.034%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin CRCL-USDT	92.950	0.0505	pay 0.0505% / 8h	6h 05m	$1.1M	$1.7M	20x
Short	tradeXYZ xyz:CRCL	92.887	0.0050	get 0.0006% / 1h	5m 09s	$67.9M	$40.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$95.55
Price spread: −0.068% → −0.034%: −$3.38
Slippage, 4 orders: −$7.84
Fee BloFin: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$136.78
Costs to cover: 0.378%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; tradeXYZ: live order book, 8 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, 6 min ago	1.08 bp	7.6 bp −$8	11.4 bp −$114	26.7 bp −$2,665	doesn't fit
Sell tradeXYZ live order book, 8 min ago	0.54 bp	10.2 bp −$10	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
Vest CRCL-USD-PERP	−0.0022%	1h	92.770	−0.194%	—	$30K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.950	0.000%	$15.1M	$25.1M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.910	−0.043%	$18.2M	$33.7M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.850	−0.108%	$1.0M	$45K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0008%	1h	92.890	−0.065%	$860K	$702K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.908	−0.045%	$999K	$2.5M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	92.639	−0.335%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCLshort	+0.0050%	1h	92.887	−0.068%	$67.9M	$40.1M	10x
Polymarket Perps CRCL-USD	+0.0050%	1h	93.000	+0.054%	$382K	$847K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.865	−0.091%	$47K	$3K	10x	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	92.910	−0.043%	$1.1M	$3.8M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0073%	1h	92.910	−0.043%	$5K	$454K	10x	as long as short
QFEX CRCL-USD	+0.0080%	1h	93.040	+0.097%	$1.3M	$1.6M	10x	as long as short
Gate CRCL_USDT	+0.0093%	8h	92.940	−0.011%	$7.4M	$26.0M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	93.030	+0.086%	$139K	$141K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.950	0.000%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.550	−0.430%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.950	0.000%	$927	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.950	0.000%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0136%	8h	93.057	+0.115%	$428	$477	5x	as long as short
Phoenix CRCL	+0.0199%	1h	92.671	−0.300%	$27K	$66K	10x	as long as short
Lighter CRCL	+0.0264%	1h	92.942	−0.009%	$3.0M	$2.1M	10x	as long as short
Variational Omni CRCL	+0.0303%	8h	92.823	−0.136%	$2.5M	$3.3M	—	as long as short
Nado CRCL-PERP	+0.0321%	1h	92.955	+0.005%	$152K	$107K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0340%	8h	92.970	+0.022%	$22.9M	$57.2M	50x	as long as short
Arcus CRCL-USD	+0.0368%	1h	93.030	+0.086%	$94K	$226K	10x	as long as short
Aster CRCLUSDT	+0.0378%	8h	92.918	−0.035%	$1.1M	$4.5M	20x	as long as short
Extended CRCL_24_5-USD	+0.0384%	1h	92.910	−0.043%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0385%	8h	92.930	−0.022%	$107.5M	$356.2M	50x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.090	−0.925%	$38K	$172K	30x	as long as short
RISEx CRCL/USDC	+0.0479%	1h	93.000	+0.054%	$417K	$243K	10x	as long as short
BloFin CRCL-USDTlong	+0.0505%	8h	92.950	long leg	$1.1M	$1.7M	20x
GRVT CRCL_USDT_Perp	+0.0795%	8h	92.663	−0.309%	$62K	$1.0M	10x	as long as short
edgeX CRCLUSDC	+0.0977%	4h	92.636	−0.338%	$53K	$269K	10x	as long as short