Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h +0.010%

Price spread now: Lighter RH against Gate−0.069%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

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

costs, in and out, $10k−$360.365% of the position

Long on Gate Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.185%−$18 on $10k

Price spread, last 7 days+0.046%+$5 · spread now −0.069%, 7d avg −0.032%

Together, before fees−0.139%+ Points / potential airdropLighter RH: Points live · farm board−$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter RH is 0.037% cheaper against Gate than usual: you would sell low and buy high (spread −0.069% now, against its 7-day average of −0.032%). If the spread goes back, that is −$4 on $10k: about 4.4 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.185%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CRCL_USDT	91.050	0.0004	pay 0.0004% / 8h	7h 32m	$7.8M	$26.4M	50x
Short	Lighter RH CRCL	90.987	0.0032	get 0.0004% / 1h	32m 12s	$979K	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.069%Rate

Funding earned: $5.88
Price spread: −0.069% → −0.032%: −$3.68
Slippage, 4 orders: −$21.46
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$34.26
Costs to cover: 0.365%
Break-even: 47.8 days

Slippage from Gate: live order book, 2 min ago; Lighter RH: live order book, 6 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	1.65 bp	12.7 bp −$13	30.0 bp −$300	doesn't fit	doesn't fit
Sell Lighter RH live order book, 6 min ago	3.23 bp	3.2 bp −$3	6.0 bp −$60	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	−0.0098%	1h	90.710	−0.373%	—	$31K	25x	as long as short
Bitget CRCLUSDT	−0.0059%	8h	91.020	−0.033%	$17.3M	$36.2M	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	90.990	−0.066%	$15.0M	$26.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.040	−0.011%	$1.0M	$47K	10x	as long as short
Gate CRCL_USDTlong	+0.0004%	8h	91.050	long leg	$7.8M	$26.4M	50x
Lighter RH CRCLshort	+0.0032%	1h	90.987	−0.069%	$979K	$2.4M	10x
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	91.000	−0.055%	$938K	$571K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.067	+0.019%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	90.950	−0.110%	$94K	$283K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	90.917	−0.146%	$67.0M	$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	90.928	−0.134%	$376K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	90.968	−0.090%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	90.990	−0.066%	$1.1M	$4.7M	10x	as long as short
QFEX CRCL-USD	+0.0065%	1h	91.030	−0.022%	$1.3M	$1.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.000	−0.055%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.000	−0.055%	$2.6M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.120	+0.077%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.000	−0.055%	$907	$1K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0104%	8h	91.175	+0.138%	$71K	$1.1M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.054	+0.005%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0130%	8h	91.002	−0.053%	$419	$766	5x	as long as short
Variational Omni CRCL	+0.0152%	8h	91.180	+0.143%	$2.4M	$3.3M	—	as long as short
Aster CRCLUSDT	+0.0213%	8h	91.049	−0.001%	$1.0M	$5.0M	20x	as long as short
Lighter CRCL	+0.0224%	1h	90.997	−0.058%	$2.9M	$2.1M	10x	as long as short
Extended CRCL_24_5-USD	+0.0224%	1h	90.983	−0.074%	$1.1M	$5.1M	10x	as long as short
Binance CRCLUSDT	+0.0228%	8h	91.009	−0.045%	$104.6M	$386.8M	50x	as long as short
Phoenix CRCL	+0.0254%	1h	91.098	+0.053%	$27K	$66K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0290%	8h	90.960	−0.099%	$22.3M	$61.3M	50x	as long as short
BloFin CRCL-USDT	+0.0350%	8h	91.020	−0.033%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0372%	1h	90.964	−0.095%	$134K	$109K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0410%	1h	90.960	−0.099%	$5K	$766K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.170	+1.230%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0501%	1h	91.030	−0.022%	$411K	$257K	10x	as long as short
edgeX CRCLUSDC	+0.0936%	4h	91.171	+0.133%	$52K	$270K	10x	as long as short