Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against GRVT+0.003%7-day average −0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$1051.053% of the position

Long on GRVT Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.177%−$18 on $10k

Price spread, last 3 days (all we have)−0.216%−$22 · spread now +0.003%, 7d avg −0.026%

Together, before fees−0.392%+ Points / potential airdropGRVT: Active · farm board−$39 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.029% dearer against GRVT than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT CRCL_USDT_Perp	94.417	0	get 0.0000% / 8h	2h 00m	$50K	$1.2M	10x
Short	Phemex CRCLUSDT	94.420	0	get 0.0000% / 4h	2h 00m	$1.0M	$50K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.003%Rate

Funding earned: $0
Price spread: +0.003% → −0.026%: $2.9
Slippage, 4 orders: −$84.32
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$102.42
Costs to cover: 1.053%
Break-even: never at this rate

Slippage from GRVT: live order book, 3 min ago; Phemex: live order book, 2 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, 3 min ago	1.59 bp	7.5 bp −$8	12.2 bp −$122	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	1.06 bp	42.6 bp −$43	doesn't fit	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
RISEx CRCL/USDC	0.0000%	1h	94.443	+0.028%	$431K	$310K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.450	+0.035%	$7.2M	$27.8M	50x	as long as short
GRVT CRCL_USDT_Perplong	0.0000%	8h	94.417	long leg	$50K	$1.2M	10x
Phemex CRCLUSDTshort	0.0000%	4h	94.420	+0.003%	$1.0M	$50K	10x
Variational Omni CRCL	+0.0011%	8h	94.421	+0.004%	$2.5M	$3.2M	—	as long as short
QFEX CRCL-USD	+0.0020%	1h	94.420	+0.003%	$1.4M	$2.7M	10x	as long as short
Bybit CRCLUSDT	+0.0027%	8h	94.430	+0.014%	$15.5M	$25.9M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.466	+0.052%	$881K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0042%	1h	94.468	+0.054%	$2K	$19K	5x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.380	−0.039%	—	$45K	25x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CRCL	+0.0050%	1h	94.333	−0.089%	$70.7M	$42.9M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.330	−0.092%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.434	+0.018%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.350	−0.071%	$1.1M	$5.9M	10x	as long as short
Extended CRCL_24_5-USD	+0.0064%	1h	94.430	+0.013%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0067%	8h	94.402	−0.016%	$108.4M	$389.3M	50x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0068%	1h	94.460	+0.045%	$4K	$771K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.404	−0.014%	$76K	$100K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.430	+0.014%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.350	−0.071%	$69K	$5K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.410	−0.008%	$941	$3K	10x	as long as short
Aster CRCLUSDT	+0.0101%	8h	94.436	+0.020%	$1.1M	$4.8M	20x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.459	+0.044%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0133%	8h	94.464	+0.049%	$775	$740	5x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0144%	1h	94.390	−0.029%	$939K	$743K	10x	as long as short
BloFin CRCL-USDT	+0.0184%	8h	94.460	+0.045%	$1.1M	$588K	20x	as long as short
Nado CRCL-PERP	+0.0193%	1h	94.290	−0.134%	$127K	$73K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0203%	8h	94.420	+0.003%	$22.8M	$60.6M	50x	as long as short
Phoenix CRCL	+0.0228%	1h	94.456	+0.041%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0280%	1h	94.483	+0.070%	$3.1M	$2.4M	10x	as long as short
Bitget CRCLUSDT	+0.0317%	8h	94.400	−0.018%	$16.7M	$35.2M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.920	+0.533%	$5K	$20K	30x	as long as short
Arcus CRCL-USD	+0.0560%	1h	94.440	+0.024%	$97K	$274K	10x	as long as short
edgeX CRCLUSDC	+0.0714%	4h	94.432	+0.015%	$24K	$268K	10x	as long as short