Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0845%/8h= −92.5% APRpaid last 24h −0.150%

Price spread now: Coinbase International against edgeX+0.018%7-day average −0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$430.433% of the position

Long on edgeX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.639%−$64 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now +0.018%, 7d avg −0.038%

Together, before fees−0.737%+ Points / potential airdropedgeX: Active · farm board−$74 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.056% dearer against edgeX than usual: you sell high and buy low (spread +0.018% now, against its 7-day average of −0.038%): +$6 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.639% in total) that is about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CRCLUSDC	91.164	0.0917	pay 0.0458% / 4h	2h 31m	$52K	$278K	10x
Short	Coinbase International CRCL-PERP-INTX	91.180	0.0072	get 0.0009% / 1h	31m 11s	$913K	$529K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.018%Rate

Funding earned: −$177.4
Price spread: +0.018% → −0.038%: $5.63
Slippage, 4 orders: −$24.3
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$215.07
Costs to cover: 0.433%
Break-even: never at this rate

Slippage from edgeX: live order book, 17 min ago; Coinbase International: live order book, 17 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, 17 min ago	6.01 bp	11.7 bp −$12	23.0 bp −$230	doesn't fit	doesn't fit
Sell Coinbase International live order book, 17 min ago	4.92 bp	9.9 bp −$10	14.6 bp −$146	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	−0.0880%	8h	91.260	+0.106%	$16.7M	$36.3M	25x	as long as short
Vest CRCL-USD-PERP	−0.0071%	1h	90.900	−0.289%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.190	+0.029%	$14.5M	$26.9M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.230	+0.073%	$7.6M	$27.3M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.361	+0.216%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.170	+0.007%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0011%	8h	91.204	+0.045%	$1.0M	$5.1M	20x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.177	+0.014%	$1.1M	$5.6M	10x	as long as short
Binance CRCLUSDT	+0.0024%	8h	91.206	+0.047%	$103.7M	$395.0M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.225	+0.067%	$972K	$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
Arcus CRCL-USD	+0.0040%	1h	91.210	+0.051%	$93K	$291K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	91.217	+0.058%	$2K	$26K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.109	−0.060%	$68.1M	$43.3M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.142	−0.024%	$382K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.163	−0.001%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.210	+0.051%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	91.140	−0.026%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTXshort	+0.0072%	1h	91.180	+0.018%	$913K	$529K	10x
Paradex CRCL-USD-PERP	+0.0089%	8h	91.147	−0.018%	$419	$905	5x	as long as short
BloFin CRCL-USDT	+0.0097%	8h	91.230	+0.073%	$1.1M	$1.6M	20x	as long as short
Pacifica CRCL	+0.0100%	1h	91.162	−0.002%	$133K	$162K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.200	+0.040%	$2.7M	$1.8M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0100%	8h	91.150	−0.015%	$62K	$1.1M	10x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.170	+0.007%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.190	+0.029%	$909	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.165	+0.001%	$4	—	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0111%	8h	91.210	+0.051%	$22.1M	$61.9M	50x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	91.175	+0.013%	$415K	$294K	10x	as long as short
Phoenix CRCL	+0.0210%	1h	91.110	−0.059%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0224%	1h	91.219	+0.061%	$2.9M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0299%	1h	91.180	+0.018%	$4K	$768K	10x	as long as short
Nado CRCL-PERP	+0.0303%	1h	91.115	−0.054%	$133K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.040	+0.961%	$5K	$19K	30x	as long as short
edgeX CRCLUSDClong	+0.0917%	4h	91.164	long leg	$52K	$278K	10x