Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0172%/8h= +18.8% APRpaid last 24h −0.073%

Price spread now: BloFin against edgeX−0.069%7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$390.393% of the position

Long on edgeX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.425%−$43 on $10k

Price spread, last 3 days (all we have)−0.009%−$1 · spread now −0.069%, 7d avg +0.017%

Together, before fees−0.434%+ Points / potential airdropedgeX: Active · farm board−$43 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.086% cheaper against edgeX than usual: you would sell low and buy high (spread −0.069% now, against its 7-day average of +0.017%). If the spread goes back, that is −$9 on $10k: about 40 hours of funding at the current rate (+$5 a day). Mind the row above: over the last 7 days funding on this pair cost −0.425%, 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	edgeX CRCLUSDC	94.435	0.0141	pay 0.0070% / 4h	3h 28m	$24K	$269K	10x
Short	BloFin CRCL-USDT	94.370	0.0313	get 0.0313% / 8h	7h 28m	$1.1M	$560K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against edgeX. 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 edgeXbpFee BloFinbpOrdersPrice spread, now −0.069%Rate

Funding earned: $36.09
Price spread: −0.069% → +0.017%: −$8.58
Slippage, 4 orders: −$18.3
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$11.79
Costs to cover: 0.393%
Break-even: 9.3 days

Slippage from edgeX: live order book, 44 min ago; BloFin: live order book, 3 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 edgeX live order book, 44 min ago	5.82 bp	11.2 bp −$11	23.3 bp −$233	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	0.53 bp	10.2 bp −$10	17.4 bp −$174	58.4 bp −$5,835	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
Coinbase International CRCL-PERP-INTX	−0.0064%	1h	94.210	−0.238%	$942K	$622K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	94.440	+0.005%	$15.5M	$25.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.420	−0.016%	$7.2M	$27.0M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.462	+0.029%	$68K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.330	−0.111%	$1.0M	$49K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.403	−0.034%	$889K	$2.8M	10x	as long as short
Bitget CRCLUSDT	+0.0033%	8h	94.450	+0.016%	$17.0M	$34.7M	25x	as long as short
Aftermath Perps CRCLUSD	+0.0042%	1h	94.322	−0.119%	$2K	$22K	5x	as long as short
QFEX CRCL-USD	+0.0042%	1h	94.350	−0.090%	$1.4M	$2.6M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.280	−0.164%	—	$37K	25x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CRCL	+0.0050%	1h	94.343	−0.097%	$71.8M	$42.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.369	−0.070%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.373	−0.066%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.310	−0.132%	$1.0M	$5.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.350	−0.090%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.420	−0.016%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.300	−0.143%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.390	−0.048%	$941	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.397	−0.040%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0105%	8h	94.412	−0.024%	$774	$740	5x	as long as short
Variational Omni CRCL	+0.0127%	8h	94.450	+0.016%	$2.5M	$3.1M	—	as long as short
edgeX CRCLUSDClong	+0.0141%	4h	94.435	long leg	$24K	$269K	10x
OKX CRCL-USDT-SWAP	+0.0151%	8h	94.470	+0.037%	$22.8M	$59.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0192%	1h	94.388	−0.050%	$1.1M	$5.9M	10x	as long as short
Binance CRCLUSDT	+0.0193%	8h	94.423	−0.013%	$109.4M	$386.2M	50x	as long as short
Aster CRCLUSDT	+0.0199%	8h	94.402	−0.035%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0228%	1h	94.320	−0.121%	$132K	$76K	3x	as long as short
Phoenix CRCL	+0.0296%	1h	94.429	−0.006%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0304%	1h	94.416	−0.020%	$3.1M	$2.2M	10x	as long as short
BloFin CRCL-USDTshort	+0.0313%	8h	94.370	−0.069%	$1.1M	$560K	20x
Injective CRCL/USDC PERP	+0.0440%	1h	94.890	+0.482%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0492%	1h	94.380	−0.058%	$4K	$769K	10x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.360	−0.079%	$96K	$273K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	94.386	−0.051%	$431K	$299K	10x	as long as short