Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0287%/8h= −31.5% APRpaid last 24h −0.033%

Price spread now: Binance against Lighter−0.027%7-day average −0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$190.191% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.545%−$55 on $10k

Price spread, last 7 days+0.061%+$6 · spread now −0.027%, 7d avg −0.061%

Together, before fees−0.484%+ Points / potential airdropLighter: Season 3 · farm board−$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.034% dearer against Lighter than usual: you sell high and buy low (spread −0.027% now, against its 7-day average of −0.061%): +$3 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CRCL	91.519	0.0360	pay 0.0045% / 1h	55m 49s	$2.9M	$2.4M	10x
Short	Binance CRCLUSDT	91.494	0.0073	get 0.0073% / 8h	1h 55m	$104.6M	$397.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter. 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 LighterbpFee BinancebpOrdersPrice spread, now −0.027%Rate

Funding earned: −$60.32
Price spread: −0.027% → −0.061%: $3.41
Slippage, 4 orders: −$9.14
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$76.05
Costs to cover: 0.191%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Binance: live order book, 3 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 Lighter live order book, 6 min ago	3.11 bp	3.1 bp −$3	7.4 bp −$74	36.9 bp −$3,687	doesn't fit
Sell Binance live order book, 3 min ago	0.55 bp	6.6 bp −$7	10.1 bp −$101	31.1 bp −$3,109	139.9 bp −$69.9K

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	−0.0751%	8h	91.530	+0.012%	$17.4M	$37.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0083%	1h	91.220	−0.327%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.500	−0.021%	$14.7M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.520	+0.001%	$7.8M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.489	−0.033%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.490	−0.032%	$1.0M	$48K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	91.486	−0.036%	$2K	$27K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.540	+0.023%	$93K	$289K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.448	−0.078%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.410	−0.119%	$1.1M	$5.2M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International CRCL-PERP-INTX	+0.0056%	1h	91.470	−0.054%	$891K	$605K	10x	as long as short
Aster CRCLUSDT	+0.0059%	8h	91.500	−0.020%	$1.0M	$5.1M	20x	as long as short
QFEX CRCL-USD	+0.0068%	1h	91.450	−0.075%	$1.3M	$1.8M	10x	as long as short
Extended CRCL_24_5-USD	+0.0072%	1h	91.457	−0.068%	$1.0M	$5.7M	10x	as long as short
Binance CRCLUSDTshort	+0.0073%	8h	91.494	−0.027%	$104.6M	$397.9M	50x
Pacifica CRCL	+0.0100%	1h	91.460	−0.064%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.510	−0.010%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.590	+0.078%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.460	−0.064%	$912	$2K	10x	as long as short
Lighter RH CRCL	+0.0104%	1h	91.519	0.000%	$977K	$2.7M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.477	−0.046%	$4	—	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0158%	8h	91.730	+0.231%	$65K	$1.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0166%	8h	91.470	−0.054%	$421	$905	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0173%	8h	91.490	−0.032%	$22.2M	$62.7M	50x	as long as short
BloFin CRCL-USDT	+0.0190%	8h	91.560	+0.045%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0210%	1h	91.686	+0.182%	$27K	$82K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0222%	1h	91.456	−0.069%	$67.7M	$44.4M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0257%	1h	91.475	−0.048%	$383K	$1.3M	10x	as long as short
RISEx CRCL/USDC	+0.0271%	1h	91.540	+0.023%	$417K	$271K	10x	as long as short
Lighter CRCLlong	+0.0360%	1h	91.519	long leg	$2.9M	$2.4M	10x
Injective CRCL/USDC PERP	+0.0440%	1h	92.010	+0.537%	$5K	$19K	30x	as long as short
Nado CRCL-PERP	+0.0500%	1h	91.403	−0.126%	$134K	$109K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0625%	1h	91.490	−0.032%	$5K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0851%	4h	91.640	+0.132%	$52K	$276K	10x	as long as short