Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0200%/8h= −21.9% APRpaid last 24h −0.127%

Price spread now: Gate against edgeX−0.008%67s7-day average +0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$135as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$670.675% of the position

Long on edgeX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.676%−$68 on $10k

Price spread, last 3 days (all we have)−0.216%−$22 · spread now −0.008%, 7d avg +0.019%

Together, before fees−0.892%+ Points / potential airdropedgeX: Active · farm board−$89 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Gate is 0.026% cheaper against edgeX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.019%). Swap the legs. The two prices were read 67 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CRCLUSDC	94.277	0.0200	pay 0.0100% / 4h	1h 28m	$24K	$268K	10x
Short	Gate CRCL_USDT	94.270	0	get 0.0000% / 8h	1h 28m	$7.2M	$27.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.008%Rate

Funding earned: −$41.94
Price spread: −0.008% → +0.019%: −$2.62
Slippage, 4 orders: −$43.47
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$112.03
Costs to cover: 0.675%
Break-even: never at this rate

Slippage from edgeX: live order book, 54 min ago; Gate: live order book, 5 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, 54 min ago	10.05 bp	15.4 bp −$15	27.0 bp −$270	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	1.59 bp	12.7 bp −$13	23.3 bp −$233	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
Gate CRCL_USDTshort	0.0000%	8h	94.270	−0.008%	$7.2M	$27.6M	50x
Phemex CRCLUSDT	0.0000%	4h	94.200	−0.082%	$1.0M	$50K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.231	−0.049%	$888K	$2.9M	10x	as long as short
QFEX CRCL-USD	+0.0033%	1h	94.160	−0.124%	$1.4M	$2.8M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.100	−0.188%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0047%	1h	94.248	−0.031%	$2K	$20K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.189	−0.094%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.132	−0.154%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.130	−0.156%	$1.1M	$5.8M	10x	as long as short
Bybit CRCLUSDT	+0.0074%	8h	94.250	−0.029%	$15.5M	$25.9M	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	−0.188%	$936K	$740K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.190	−0.093%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.300	+0.024%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.170	−0.114%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.180	−0.103%	$939	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.201	−0.081%	$4	—	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0126%	8h	94.190	−0.093%	$59K	$1.2M	10x	as long as short
Variational Omni CRCL	+0.0128%	8h	94.183	−0.100%	$2.5M	$3.2M	—	as long as short
Paradex CRCL-USD-PERP	+0.0151%	8h	94.217	−0.064%	$773	$740	5x	as long as short
tradeXYZ xyz:CRCL	+0.0154%	1h	94.072	−0.218%	$70.5M	$42.8M	10x	as long as short
RISEx CRCL/USDC	+0.0159%	1h	94.265	−0.013%	$430K	$310K	10x	as long as short
Extended CRCL_24_5-USD	+0.0168%	1h	94.192	−0.090%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0171%	8h	94.210	−0.071%	$108.3M	$388.6M	50x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0175%	1h	94.210	−0.071%	$4K	$771K	10x	as long as short
Aster CRCLUSDT	+0.0194%	8h	94.180	−0.103%	$1.1M	$4.8M	20x	as long as short
edgeX CRCLUSDClong	+0.0200%	4h	94.277	long leg	$24K	$268K	10x
OKX CRCL-USDT-SWAP	+0.0211%	8h	94.230	−0.050%	$22.8M	$60.4M	50x	as long as short
Phoenix CRCL	+0.0212%	1h	94.187	−0.096%	$28K	$92K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	94.200	−0.082%	$96K	$275K	10x	as long as short
Nado CRCL-PERP	+0.0264%	1h	94.132	−0.154%	$126K	$74K	3x	as long as short
Lighter CRCL	+0.0288%	1h	94.226	−0.054%	$3.0M	$2.3M	10x	as long as short
BloFin CRCL-USDT	+0.0292%	8h	94.120	−0.167%	$1.1M	$579K	20x	as long as short
Bitget CRCLUSDT	+0.0314%	8h	94.260	−0.018%	$16.6M	$35.2M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.760	+0.512%	$5K	$19K	30x	as long as short