Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0704%/8h= +77.1% APRpaid last 24h +0.120%

Price spread now: edgeX against Extended+0.187%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs+$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$340.338% of the position

Long on Extended Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.660%+$66 on $10k

Price spread, last 4 days (all we have)+0.300%+$30 · spread now +0.187%, 7d avg +0.030%

Together, before fees+0.959%+ Points / potential airdropExtended: Active · edgeX: Active · farm board+$96 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and edgeX is 0.157% dearer against Extended than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended CRCL_24_5-USD	91.001	0.0232	pay 0.0029% / 1h	33m 09s	$1.1M	$5.1M	10x
Short	edgeX CRCLUSDC	91.171	0.0936	get 0.0468% / 4h	3h 33m	$52K	$270K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Extended. 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 ExtendedbpFee edgeXbpOrdersPrice spread, now +0.187%Rate

Funding earned: $147.81
Price spread: +0.187% → +0.030%: $15.73
Slippage, 4 orders: −$19.76
Fee Extended: 2.5 bp × 2 orders: −$5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $129.78
Costs to cover: 0.338%
Break-even: 0.9 days

Slippage from Extended: live order book, 6 min ago; edgeX: live order book, 65 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 Extended live order book, 6 min ago	0.71 bp	5.5 bp −$5	34.6 bp −$346	doesn't fit	doesn't fit
Sell edgeX live order book, 65 min ago	6.01 bp	11.5 bp −$11	24.1 bp −$241	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
Vest CRCL-USD-PERP	−0.0096%	1h	90.850	−0.165%	—	$31K	25x	as long as short
Bitget CRCLUSDT	−0.0066%	8h	91.080	+0.087%	$17.3M	$36.2M	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.050	+0.054%	$15.0M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.090	+0.098%	$7.8M	$26.4M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.060	+0.065%	$1.0M	$47K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.051	+0.055%	$980K	$2.4M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	91.100	+0.109%	$872K	$504K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.103	+0.112%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.000	−0.001%	$94K	$283K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.010	+0.010%	$67.1M	$44.3M	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	90.972	−0.031%	$376K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.050	+0.054%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	90.990	−0.012%	$1.1M	$4.7M	10x	as long as short
QFEX CRCL-USD	+0.0065%	1h	91.080	+0.087%	$1.3M	$1.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.020	+0.021%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.070	+0.076%	$2.6M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.120	+0.131%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.040	+0.043%	$908	$1K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0104%	8h	91.175	+0.192%	$71K	$1.1M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.065	+0.071%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0132%	8h	91.054	+0.059%	$419	$766	5x	as long as short
Variational Omni CRCL	+0.0152%	8h	91.180	+0.197%	$2.4M	$3.3M	—	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0190%	1h	91.050	+0.054%	$5K	$769K	10x	as long as short
Aster CRCLUSDT	+0.0215%	8h	91.075	+0.082%	$1.0M	$5.0M	20x	as long as short
Lighter CRCL	+0.0216%	1h	91.052	+0.057%	$2.9M	$2.1M	10x	as long as short
Binance CRCLUSDT	+0.0230%	8h	91.021	+0.022%	$104.7M	$386.7M	50x	as long as short
Extended CRCL_24_5-USDlong	+0.0232%	1h	91.001	long leg	$1.1M	$5.1M	10x
Phoenix CRCL	+0.0254%	1h	91.098	+0.107%	$27K	$66K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0292%	8h	91.040	+0.043%	$22.3M	$61.3M	50x	as long as short
BloFin CRCL-USDT	+0.0350%	8h	91.020	+0.021%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0370%	1h	90.969	−0.035%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.170	+1.285%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0501%	1h	91.066	+0.071%	$411K	$257K	10x	as long as short
edgeX CRCLUSDCshort	+0.0936%	4h	91.171	+0.187%	$52K	$270K	10x