Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0795%/8h= +87.0% APRpaid last 24h +0.120%

Price spread now: edgeX against Gate−0.262%97s7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs+$18as 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−$490.490% of the position

Long on Gate Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.672%+$67 on $10k

Price spread, last 4 days (all we have)+0.435%+$44 · spread now −0.262%, 7d avg −0.016%

Together, before fees+1.107%+ Points / potential airdropedgeX: Active · farm board+$111 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.246% cheaper against Gate than usual: you would sell low and buy high (spread −0.262% now, against its 7-day average of −0.016%). If the spread goes back, that is −$25 on $10k: about 25 hours of funding at the current rate (+$24 a day). At the pace of the last 7 days (+0.672% in total) that is about 2.6 days. The two prices were read 97 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	Gate CRCL_USDT	91.540	0	get 0.0000% / 8h	2h 11m	$7.6M	$27.7M	50x
Short	edgeX CRCLUSDC	91.300	0.0795	get 0.0397% / 4h	2h 11m	$52K	$278K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Gate. 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 GatebpFee edgeXbpOrdersPrice spread, now −0.262%Rate

Funding earned: $166.9
Price spread: −0.262% → −0.016%: −$24.59
Slippage, 4 orders: −$24.99
Fee Gate: 7.5 bp × 2 orders: −$15
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $93.32
Costs to cover: 0.490%
Break-even: 3.1 days

Slippage from Gate: live order book, 2 min ago; edgeX: live order book, 36 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 Gate live order book, 2 min ago	1.10 bp	12.2 bp −$12	26.3 bp −$263	doesn't fit	doesn't fit
Sell edgeX live order book, 36 min ago	6.01 bp	11.6 bp −$12	23.6 bp −$236	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	−0.0981%	8h	91.540	0.000%	$17.1M	$36.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0079%	1h	91.000	−0.590%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.530	−0.011%	$14.6M	$26.9M	50x	as long as short
Gate CRCL_USDTlong	0.0000%	8h	91.540	long leg	$7.6M	$27.7M	50x
Variational Omni CRCL	0.0000%	8h	91.280	−0.284%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.380	−0.175%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0029%	8h	91.487	−0.058%	$1.0M	$5.1M	20x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.395	−0.158%	$974K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0036%	1h	91.226	−0.343%	$2K	$27K	5x	as long as short
Extended CRCL_24_5-USD	+0.0040%	1h	91.494	−0.050%	$1.0M	$5.7M	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	91.250	−0.317%	$93K	$289K	10x	as long as short
Binance CRCLUSDT	+0.0043%	8h	91.520	−0.022%	$104.3M	$396.8M	50x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.466	−0.081%	$68.4M	$43.5M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.316	−0.245%	$382K	$1.3M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.341	−0.217%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.220	−0.350%	$1.1M	$5.2M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	91.310	−0.251%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	91.190	−0.382%	$888K	$603K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.290	−0.273%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.330	−0.229%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.210	−0.360%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.300	−0.262%	$910	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.322	−0.238%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	91.334	−0.225%	$416K	$285K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0122%	8h	91.298	−0.265%	$420	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0125%	8h	91.320	−0.241%	$65K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0138%	8h	91.530	−0.011%	$22.2M	$62.6M	50x	as long as short
BloFin CRCL-USDT	+0.0162%	8h	91.310	−0.251%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0210%	1h	91.287	−0.276%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0240%	1h	91.399	−0.154%	$2.9M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0323%	1h	91.206	−0.365%	$133K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.760	+0.240%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0737%	1h	91.310	−0.251%	$4K	$768K	10x	as long as short
edgeX CRCLUSDCshort	+0.0795%	4h	91.300	−0.262%	$52K	$278K	10x