Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0476%/8h= −52.2% APRpaid last 24h −0.041%

Price spread now: Paradex against Deribit+0.018%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$14 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit CRCL_USDC-PERPETUAL	94.230	0.0600	pay 0.0075% / 1h	3m 45s	$4K	$772K	10x
Short	Paradex CRCL-USD-PERP	94.247	0.0123	get 0.0123% / 8h	1h 03m	$773	$740	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.018%Rate

Funding earned: −$100.03
Price spread: +0.018% → 0.000%: $1.8
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$109.23
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 15 min ago; Paradex: no order-book sample. Net counts fees only.

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, 15 min ago	0.53 bp	9.3 bp −$9	12.6 bp −$126	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Gate CRCL_USDT	0.0000%	8h	94.260	+0.032%	$7.2M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.200	−0.032%	$1.0M	$52K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.269	+0.041%	$888K	$2.9M	10x	as long as short
QFEX CRCL-USD	+0.0033%	1h	94.200	−0.032%	$1.4M	$2.7M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.160	−0.074%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0048%	1h	94.231	+0.001%	$2K	$20K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.219	−0.012%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.238	+0.008%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.160	−0.074%	$1.1M	$5.9M	10x	as long as short
Bybit CRCLUSDT	+0.0079%	8h	94.280	+0.053%	$15.5M	$25.8M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International CRCL-PERP-INTX	+0.0080%	1h	94.100	−0.138%	$936K	$720K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.220	−0.011%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.250	+0.021%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.190	−0.042%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.210	−0.021%	$939	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.254	+0.025%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0116%	8h	94.222	−0.008%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERPshort	+0.0123%	8h	94.247	+0.018%	$773	$740	5x
GRVT CRCL_USDT_Perp	+0.0132%	8h	94.200	−0.032%	$62K	$1.1M	10x	as long as short
RISEx CRCL/USDC	+0.0159%	1h	94.255	+0.027%	$430K	$311K	10x	as long as short
Binance CRCLUSDT	+0.0159%	8h	94.264	+0.036%	$108.4M	$388.4M	50x	as long as short
Extended CRCL_24_5-USD	+0.0160%	1h	94.247	+0.018%	$1.1M	$3.8M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0175%	1h	94.216	−0.015%	$70.6M	$42.7M	10x	as long as short
Aster CRCLUSDT	+0.0176%	8h	94.193	−0.039%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0191%	8h	94.270	+0.042%	$22.8M	$60.4M	50x	as long as short
Phoenix CRCL	+0.0212%	1h	94.180	−0.053%	$28K	$92K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	94.200	−0.032%	$96K	$275K	10x	as long as short
Nado CRCL-PERP	+0.0253%	1h	94.168	−0.066%	$126K	$73K	3x	as long as short
BloFin CRCL-USDT	+0.0281%	8h	94.270	+0.042%	$1.1M	$580K	20x	as long as short
Lighter CRCL	+0.0288%	1h	94.273	+0.046%	$3.0M	$2.3M	10x	as long as short
Bitget CRCLUSDT	+0.0306%	8h	94.280	+0.053%	$16.7M	$35.1M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.760	+0.562%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUALlong	+0.0600%	1h	94.230	long leg	$4K	$772K	10x
edgeX CRCLUSDC	+0.0698%	4h	94.147	−0.089%	$24K	$267K	10x	as long as short