Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0169%/8h= −18.5% APRpaid last 24h −0.104%

Price spread now: Phoenix against edgeX−0.002%7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.659%−$66 on $10k

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

Together, before fees—+ Points / potential airdropedgeX: 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: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CRCLUSDC	94.309	0.0464	pay 0.0232% / 4h	3h 33m	$24K	$268K	10x
Short	Phoenix CRCL	94.307	0.0296	get 0.0037% / 1h	33m 56s	$28K	$92K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.002%Rate

Funding earned: −$35.41
Price spread: −0.002% → 0.000%: −$0.17
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$51.59
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 39 min ago; Phoenix: 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 edgeX live order book, 39 min ago	5.82 bp	11.2 bp −$11	23.3 bp −$233	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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
Coinbase International CRCL-PERP-INTX	−0.0064%	1h	94.100	−0.221%	$941K	$619K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.320	+0.012%	$7.2M	$27.0M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.341	+0.034%	$68K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.320	+0.012%	$1.0M	$51K	10x	as long as short
Bybit CRCLUSDT	+0.0012%	8h	94.310	+0.001%	$15.5M	$25.7M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.328	+0.021%	$891K	$2.8M	10x	as long as short
QFEX CRCL-USD	+0.0042%	1h	94.300	−0.009%	$1.4M	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0043%	1h	94.245	−0.068%	$2K	$22K	5x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.180	−0.136%	—	$37K	25x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	94.256	−0.056%	$71.7M	$42.2M	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	94.281	−0.029%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.304	−0.005%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.180	−0.136%	$1.1M	$5.8M	10x	as long as short
Bitget CRCLUSDT	+0.0052%	8h	94.370	+0.065%	$17.0M	$34.9M	25x	as long as short
Pacifica CRCL	+0.0100%	1h	94.249	−0.063%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.350	+0.044%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.230	−0.083%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.290	−0.020%	$940	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.314	+0.006%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0107%	8h	94.303	−0.006%	$773	$740	5x	as long as short
Variational Omni CRCL	+0.0137%	8h	94.330	+0.023%	$2.5M	$3.1M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0156%	8h	94.310	+0.001%	$22.8M	$59.8M	50x	as long as short
Extended CRCL_24_5-USD	+0.0200%	1h	94.281	−0.029%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0200%	8h	94.304	−0.005%	$109.3M	$387.1M	50x	as long as short
Aster CRCLUSDT	+0.0206%	8h	94.335	+0.028%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0226%	1h	94.229	−0.084%	$132K	$76K	3x	as long as short
Phoenix CRCLshort	+0.0296%	1h	94.307	−0.002%	$28K	$92K	10x
Lighter CRCL	+0.0296%	1h	94.344	+0.037%	$3.0M	$2.2M	10x	as long as short
BloFin CRCL-USDT	+0.0323%	8h	94.320	+0.012%	$1.1M	$560K	20x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0387%	1h	94.310	+0.001%	$4K	$771K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.730	+0.447%	$5K	$19K	30x	as long as short
edgeX CRCLUSDClong	+0.0464%	4h	94.309	long leg	$24K	$268K	10x
Arcus CRCL-USD	+0.0521%	1h	94.280	−0.030%	$96K	$276K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	94.307	−0.001%	$430K	$299K	10x	as long as short