Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0312%/8h= +34.2% APRpaid last 24h +0.035%

Price spread now: Lighter against Gate−0.039%7-day average +0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs+$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$330.335% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.506%+$51 on $10k

Price spread, last 7 days+0.088%+$9 · spread now −0.039%, 7d avg +0.027%

Together, before fees+0.594%+ Points / potential airdropLighter: Season 3 · farm board+$59 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.067% cheaper against Gate than usual: you would sell low and buy high (spread −0.039% now, against its 7-day average of +0.027%). If the spread goes back, that is −$7 on $10k: about 17 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CRCL_USDT	94.410	0	get 0.0000% / 8h	2h 08m	$7.2M	$27.8M	50x
Short	Lighter CRCL	94.373	0.0312	get 0.0039% / 1h	8m 53s	$3.1M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.039%Rate

Funding earned: $65.52
Price spread: −0.039% → +0.027%: −$6.67
Slippage, 4 orders: −$18.47
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: $25.38
Costs to cover: 0.335%
Break-even: 4.3 days

Slippage from Gate: live order book, 5 min ago; Lighter: live order book, 8 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, 5 min ago	1.06 bp	12.6 bp −$13	27.3 bp −$273	doesn't fit	doesn't fit
Sell Lighter live order book, 8 min ago	2.06 bp	2.1 bp −$2	6.3 bp −$63	41.4 bp −$4,140	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
RISEx CRCL/USDC	0.0000%	1h	94.410	0.000%	$431K	$310K	10x	as long as short
Gate CRCL_USDTlong	0.0000%	8h	94.410	long leg	$7.2M	$27.8M	50x
Variational Omni CRCL	0.0000%	8h	94.483	+0.077%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.500	+0.095%	$50K	$1.2M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.460	+0.053%	$1.0M	$50K	10x	as long as short
QFEX CRCL-USD	+0.0020%	1h	94.400	−0.011%	$1.4M	$2.7M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.354	−0.059%	$880K	$2.9M	10x	as long as short
Bybit CRCLUSDT	+0.0034%	8h	94.460	+0.053%	$15.5M	$25.9M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0044%	1h	94.400	−0.011%	$2K	$19K	5x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.370	−0.042%	—	$45K	25x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CRCL_24_5-USD	+0.0048%	1h	94.411	+0.001%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0048%	8h	94.420	+0.011%	$108.4M	$389.3M	50x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.316	−0.100%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.390	−0.021%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.360	−0.053%	$1.1M	$5.9M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0059%	1h	94.327	−0.088%	$70.8M	$42.9M	10x	as long as short
Aster CRCLUSDT	+0.0083%	8h	94.382	−0.030%	$1.1M	$4.8M	20x	as long as short
Pacifica CRCL	+0.0100%	1h	94.370	−0.042%	$76K	$100K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.400	−0.011%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.300	−0.117%	$69K	$5K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.370	−0.042%	$941	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.378	−0.034%	$4	—	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0144%	1h	94.390	−0.021%	$939K	$743K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0147%	8h	94.423	+0.014%	$774	$740	5x	as long as short
BloFin CRCL-USDT	+0.0168%	8h	94.390	−0.021%	$1.1M	$588K	20x	as long as short
Nado CRCL-PERP	+0.0209%	1h	94.250	−0.170%	$126K	$73K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0222%	8h	94.420	+0.011%	$22.8M	$60.6M	50x	as long as short
Phoenix CRCL	+0.0228%	1h	94.343	−0.071%	$28K	$92K	10x	as long as short
Lighter CRCLshort	+0.0312%	1h	94.373	−0.039%	$3.1M	$2.4M	10x
Bitget CRCLUSDT	+0.0327%	8h	94.430	+0.021%	$16.7M	$35.2M	25x	as long as short
edgeX CRCLUSDC	+0.0424%	4h	94.482	+0.076%	$24K	$266K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.920	+0.540%	$5K	$20K	30x	as long as short
Arcus CRCL-USD	+0.0560%	1h	94.370	−0.042%	$97K	$274K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.1341%	1h	94.430	+0.021%	$4K	$771K	10x	as long as short