Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.004%

Price spread now: Pacifica against Bybit−0.027%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$660.655% of the position

Long on Bybit Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now −0.027%, 7d avg −0.040%

Together, before fees−0.119%+ Points / potential airdropPacifica: Active · farm board−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.040%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.072%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CRCLUSDT	91.560	0	get 0.0000% / 8h	3h 01m	$14.7M	$26.7M	50x
Short	Pacifica CRCL	91.536	0.0100	get 0.0013% / 1h	1m 39s	$135K	$160K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.027%Rate

Funding earned: $21
Price spread: −0.027% → −0.040%: $1.35
Slippage, 4 orders: −$46.51
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$43.17
Costs to cover: 0.655%
Break-even: 21.4 days

Slippage from Bybit: live order book, 2 min ago; Pacifica: live order book, 32 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, 2 min ago	0.55 bp	10.2 bp −$10	17.9 bp −$179	doesn't fit	doesn't fit
Sell Pacifica live order book, 32 min ago	6.53 bp	28.2 bp −$28	doesn't fit	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	−0.0677%	8h	91.650	+0.098%	$16.6M	$35.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0062%	1h	91.350	−0.229%	—	$31K	25x	as long as short
Bybit CRCLUSDTlong	0.0000%	8h	91.560	long leg	$14.7M	$26.7M	50x
Gate CRCL_USDT	0.0000%	8h	91.560	0.000%	$7.3M	$27.6M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.949	+0.425%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.760	+0.218%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0016%	8h	91.575	+0.016%	$1.1M	$5.1M	20x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.531	−0.032%	$1.2M	$5.6M	10x	as long as short
Binance CRCLUSDT	+0.0026%	8h	91.557	−0.003%	$104.4M	$393.0M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.562	+0.002%	$971K	$2.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0040%	1h	91.753	+0.211%	$2K	$26K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.750	+0.208%	$93K	$291K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.770	+0.229%	$915K	$523K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.482	−0.085%	$67.8M	$42.3M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.699	+0.152%	$385K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.691	+0.143%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.890	+0.360%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.570	+0.011%	$1.3M	$1.8M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0080%	8h	91.513	−0.052%	$421	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0089%	8h	91.920	+0.393%	$70K	$1.1M	10x	as long as short
Pacifica CRCLshort	+0.0100%	1h	91.536	−0.027%	$135K	$160K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	91.580	+0.022%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.750	+0.208%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.700	+0.153%	$914	$2K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0101%	8h	91.580	+0.022%	$22.3M	$61.7M	50x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.697	+0.149%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0105%	8h	91.740	+0.197%	$1.1M	$1.6M	20x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.555	−0.005%	$417K	$299K	10x	as long as short
Phoenix CRCL	+0.0182%	1h	91.893	+0.364%	$27K	$82K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0187%	1h	91.670	+0.120%	$4K	$768K	10x	as long as short
Lighter CRCL	+0.0248%	1h	91.564	+0.004%	$2.9M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0350%	1h	91.474	−0.094%	$133K	$108K	3x	as long as short
edgeX CRCLUSDC	+0.0434%	4h	91.779	+0.239%	$51K	$277K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.300	+0.808%	$5K	$19K	30x	as long as short