Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.005%

Price spread now: Bybit against GRVT+0.023%90s7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as 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−$330.328% of the position

Long on GRVT Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 7 days+0.013%+$1 · spread now +0.023%, 7d avg +0.014%

Together, before fees+0.090%+ Points / potential airdropGRVT: Active · farm board+$9 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT CRCL_USDT_Perp	91.879	0	get 0.0000% / 8h	4h 44m	$64K	$1.1M	10x
Short	Bybit CRCLUSDT	91.900	0	get 0.0000% / 8h	4h 44m	$15.0M	$26.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against GRVT. 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 GRVTbpFee BybitbpOrdersPrice spread, now +0.023%Rate

Funding earned: $0
Price spread: +0.023% → +0.014%: $0.88
Slippage, 4 orders: −$12.81
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$31.93
Costs to cover: 0.328%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; Bybit: live order book, 5 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 GRVT live order book, 4 min ago	0.55 bp	5.0 bp −$5	15.9 bp −$159	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	1.09 bp	10.2 bp −$10	17.8 bp −$178	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	−0.0952%	8h	91.950	+0.077%	$16.2M	$34.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.630	−0.271%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.956	+0.084%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.876	−0.004%	$1.1M	$5.6M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.900	+0.023%	$104.8M	$387.8M	50x	as long as short
Bybit CRCLUSDTshort	0.0000%	8h	91.900	+0.023%	$15.0M	$26.3M	50x
RISEx CRCL/USDC	0.0000%	1h	91.892	+0.014%	$420K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.030	+0.164%	$7.3M	$27.0M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.818	−0.066%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perplong	0.0000%	8h	91.879	long leg	$64K	$1.1M	10x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.880	+0.001%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0013%	8h	91.920	+0.045%	$22.0M	$60.6M	50x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.800	−0.086%	$906K	$490K	10x	as long as short
edgeX CRCLUSDC	+0.0021%	4h	91.784	−0.103%	$51K	$277K	10x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.840	−0.042%	$1.3M	$2.0M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0029%	1h	91.889	+0.011%	$2K	$24K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.941	+0.068%	$975K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.930	+0.056%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.844	−0.038%	$68.5M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.847	−0.035%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.851	−0.030%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.750	−0.140%	$992K	$5.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0087%	8h	91.859	−0.021%	$423	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.840	−0.042%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.900	+0.023%	$2.7M	$2.0M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.730	−0.162%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.950	+0.077%	$917	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.933	+0.059%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.790	−0.097%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.884	+0.005%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0216%	1h	91.950	+0.077%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0301%	1h	91.819	−0.066%	$131K	$104K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.330	+0.491%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0512%	1h	91.950	+0.077%	$4K	$767K	10x	as long as short