Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0761%/8h= −83.3% APRpaid last 24h −0.135%

Price spread now: SoDEX against edgeX−0.191%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 SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Both sides work against this trade now: funding costs −$23 a day on $10k at the current rate, and SoDEX is 0.191% cheaper against edgeX than usual: you would sell low and buy high (−$19 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CRCLUSDC	91.882	0.0811	pay 0.0405% / 4h	2h 19m	$23K	$267K	10x
Short	SoDEX CRCL-USD	91.707	0.0050	get 0.0006% / 1h	19m 10s	$46K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.191%Rate

Funding earned: −$159.76
Price spread: −0.191% → 0.000%: −$19.09
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$195.85
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 48 min ago; SoDEX: 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, 48 min ago	6.38 bp	11.6 bp −$12	22.8 bp −$228	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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 33 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	−0.0760%	8h	91.850	−0.035%	$15.9M	$35.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0035%	1h	91.530	−0.384%	—	$40K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.700	−0.199%	$913K	$580K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.790	−0.101%	$15.0M	$25.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.713	−0.184%	$419K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.780	−0.111%	$7.1M	$26.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.938	+0.060%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.906	+0.025%	$63K	$1.1M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	0.0000%	1h	91.710	−0.188%	$4K	$769K	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.840	−0.046%	$1.0M	$49K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0024%	1h	91.893	+0.011%	$2K	$23K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.760	−0.133%	$976K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.820	−0.068%	$93K	$273K	10x	as long as short
Extended CRCL_24_5-USD	+0.0048%	1h	91.693	−0.206%	$1.1M	$5.7M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.717	−0.180%	$68.9M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.682	−0.218%	$355K	$1.1M	10x	as long as short
SoDEX CRCL-USDshort	+0.0050%	1h	91.707	−0.191%	$46K	$3K	10x
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.770	−0.122%	$999K	$5.5M	10x	as long as short
Binance CRCLUSDT	+0.0052%	8h	91.758	−0.135%	$104.7M	$393.8M	50x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.710	−0.188%	$1.3M	$2.3M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0059%	8h	91.820	−0.068%	$21.7M	$60.2M	50x	as long as short
Aster CRCLUSDT	+0.0061%	8h	91.715	−0.183%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0074%	8h	91.724	−0.173%	$752	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.720	−0.177%	$132K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.780	−0.111%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.820	−0.068%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.710	−0.188%	$914	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.710	−0.188%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0153%	1h	91.744	−0.151%	$130K	$103K	3x	as long as short
Lighter CRCL	+0.0200%	1h	91.767	−0.126%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	91.850	−0.035%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.500	+0.672%	$5K	$19K	30x	as long as short
edgeX CRCLUSDClong	+0.0811%	4h	91.882	long leg	$23K	$267K	10x