Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0746%/8h= +81.7% APRpaid last 24h +0.044%

Price spread now: edgeX against Deribit+0.133%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$430.429% of the position

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.519%+$52 on $10k

Price spread, last 4 days (all we have)+0.319%+$32 · spread now +0.133%, 7d avg +0.007%

Together, before fees+0.837%+ Points / potential airdropedgeX: Active · farm board+$84 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$22 a day on $10k at the current rate, and edgeX is 0.125% dearer against Deribit than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit CRCL_USDC-PERPETUAL	91.050	0.0190	pay 0.0024% / 1h	32m 42s	$5K	$769K	10x
Short	edgeX CRCLUSDC	91.171	0.0936	get 0.0468% / 4h	3h 32m	$52K	$270K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Deribit. 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 DeribitbpFee edgeXbpOrdersPrice spread, now +0.133%Rate

Funding earned: $156.7
Price spread: +0.133% → +0.007%: $12.53
Slippage, 4 orders: −$26.95
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $126.28
Costs to cover: 0.429%
Break-even: 1.4 days

Slippage from Deribit: live order book, 1 min ago; edgeX: live order book, 65 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 Deribit live order book, 1 min ago	6.59 bp	10.1 bp −$10	13.1 bp −$131	doesn't fit	doesn't fit
Sell edgeX live order book, 65 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
Vest CRCL-USD-PERP	−0.0096%	1h	90.850	−0.220%	—	$31K	25x	as long as short
Bitget CRCLUSDT	−0.0066%	8h	91.090	+0.044%	$17.3M	$36.2M	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.070	+0.022%	$15.0M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.070	+0.022%	$7.8M	$26.4M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.060	+0.011%	$1.0M	$47K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.061	+0.012%	$980K	$2.4M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	91.100	+0.055%	$872K	$504K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.103	+0.058%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.000	−0.055%	$94K	$283K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	90.974	−0.083%	$67.0M	$44.3M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps CRCL-USD	+0.0050%	1h	90.972	−0.086%	$376K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.050	0.000%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	90.990	−0.066%	$1.1M	$4.7M	10x	as long as short
QFEX CRCL-USD	+0.0065%	1h	91.080	+0.033%	$1.3M	$1.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.020	−0.033%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.060	+0.011%	$2.6M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.120	+0.077%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.040	−0.011%	$908	$1K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0104%	8h	91.175	+0.138%	$71K	$1.1M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.065	+0.016%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0132%	8h	91.054	+0.005%	$419	$766	5x	as long as short
Variational Omni CRCL	+0.0152%	8h	91.180	+0.143%	$2.4M	$3.3M	—	as long as short
Deribit CRCL_USDC-PERPETUALlong	+0.0190%	1h	91.050	long leg	$5K	$769K	10x
Aster CRCLUSDT	+0.0213%	8h	91.080	+0.033%	$1.0M	$5.0M	20x	as long as short
Lighter CRCL	+0.0224%	1h	91.072	+0.024%	$2.9M	$2.1M	10x	as long as short
Binance CRCLUSDT	+0.0228%	8h	91.040	−0.011%	$104.7M	$386.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0232%	1h	90.988	−0.068%	$1.1M	$5.1M	10x	as long as short
Phoenix CRCL	+0.0254%	1h	91.098	+0.053%	$27K	$66K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0292%	8h	91.030	−0.022%	$22.3M	$61.3M	50x	as long as short
BloFin CRCL-USDT	+0.0350%	8h	91.020	−0.033%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0370%	1h	90.969	−0.089%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.170	+1.230%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0501%	1h	91.066	+0.017%	$411K	$257K	10x	as long as short
edgeX CRCLUSDCshort	+0.0936%	4h	91.171	+0.133%	$52K	$270K	10x