Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0735%/8h= +80.4% APRpaid last 24h +0.117%

Price spread now: edgeX against Bybit−0.048%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs+$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$420.424% of the position

Long on Bybit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.651%+$65 on $10k

Price spread, last 4 days (all we have)+0.316%+$32 · spread now −0.048%, 7d avg −0.018%

Together, before fees+0.967%+ Points / potential airdropedgeX: Active · farm board+$97 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.031% cheaper against Bybit than usual: you would sell low and buy high (spread −0.048% now, against its 7-day average of −0.018%). If the spread goes back, that is −$3 on $10k: about 3 hours of funding at the current rate (+$22 a day). At the pace of the last 7 days (+0.651% in total) that is about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CRCLUSDT	91.860	0	get 0.0000% / 8h	4h 19m	$14.9M	$26.4M	50x
Short	edgeX CRCLUSDC	91.815	0.0735	get 0.0367% / 4h	19m 05s	$51K	$276K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Bybit. 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 BybitbpFee edgeXbpOrdersPrice spread, now −0.048%Rate

Funding earned: $154.25
Price spread: −0.048% → −0.018%: −$3.08
Slippage, 4 orders: −$22.36
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $108.81
Costs to cover: 0.424%
Break-even: 2.1 days

Slippage from Bybit: live order book, 5 min ago; edgeX: live order book, 39 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 Bybit live order book, 5 min ago	0.54 bp	9.1 bp −$9	23.3 bp −$233	doesn't fit	doesn't fit
Sell edgeX live order book, 39 min ago	6.52 bp	11.9 bp −$12	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	−0.0999%	8h	91.870	+0.011%	$16.4M	$35.1M	25x	as long as short
Vest CRCL-USD-PERP	−0.0068%	1h	91.590	−0.294%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.872	+0.013%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.806	−0.059%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.820	−0.044%	$104.5M	$389.5M	50x	as long as short
Bybit CRCLUSDTlong	0.0000%	8h	91.860	long leg	$14.9M	$26.4M	50x
RISEx CRCL/USDC	0.0000%	1h	91.844	−0.018%	$417K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.870	+0.011%	$7.2M	$27.2M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.828	−0.035%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.950	+0.098%	$65K	$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
Phemex CRCLUSDT	0.0000%	4h	91.820	−0.044%	$1.0M	$49K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.790	−0.076%	$906K	$490K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0024%	8h	91.830	−0.033%	$22.1M	$61.1M	50x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.820	−0.044%	$1.3M	$2.0M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.841	−0.021%	$973K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0034%	1h	91.823	−0.040%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.800	−0.065%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.740	−0.131%	$68.4M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.818	−0.046%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.802	−0.063%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.820	−0.044%	$1.0M	$5.1M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.820	−0.044%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.830	−0.033%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.750	−0.120%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.810	−0.054%	$915	$2K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0100%	8h	91.830	−0.032%	$422	$905	5x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.812	−0.053%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.860	0.000%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.832	−0.030%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0184%	1h	91.834	−0.028%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0302%	1h	91.774	−0.093%	$130K	$104K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.400	+0.588%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0513%	1h	91.820	−0.044%	$4K	$767K	10x	as long as short
edgeX CRCLUSDCshort	+0.0735%	4h	91.815	−0.048%	$51K	$276K	10x