Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0198%/8h= −21.7% APRpaid last 24h −0.059%

Price spread now: Paradex against Lighter−0.005%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · Paradex: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CRCL	91.904	0.0264	pay 0.0033% / 1h	19m 07s	$3.0M	$2.4M	10x
Short	Paradex CRCL-USD-PERP	91.900	0.0066	get 0.0066% / 8h	3h 19m	$423	$905	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$41.56
Price spread: −0.005% → 0.000%: −$0.47
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$46.03
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 3 min ago; Paradex: no order-book sample. Net counts fees only.

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, 3 min ago	1.58 bp	1.9 bp −$2	8.3 bp −$83	39.0 bp −$3,899	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0690%	8h	91.920	+0.017%	$16.7M	$35.8M	25x	as long as short
Vest CRCL-USD-PERP	−0.0061%	1h	91.680	−0.244%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.860	−0.048%	$14.8M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.960	+0.061%	$7.3M	$27.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.999	+0.103%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.920	+0.017%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0016%	8h	91.854	−0.055%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.790	−0.124%	$1.2M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0025%	8h	91.840	−0.070%	$104.6M	$392.5M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.916	+0.013%	$975K	$2.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0039%	1h	91.863	−0.045%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.880	−0.026%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.770	−0.146%	$911K	$519K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.823	−0.088%	$68.2M	$42.0M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.887	−0.018%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.878	−0.028%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.890	−0.015%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.890	−0.015%	$1.3M	$1.9M	10x	as long as short
Paradex CRCL-USD-PERPshort	+0.0066%	8h	91.900	−0.005%	$423	$905	5x
GRVT CRCL_USDT_Perp	+0.0087%	8h	92.030	+0.137%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0095%	8h	91.840	−0.070%	$22.3M	$61.7M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.897	−0.007%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.890	−0.015%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.910	+0.007%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.870	−0.037%	$916	$2K	10x	as long as short
BloFin CRCL-USDT	+0.0101%	8h	91.880	−0.026%	$1.1M	$1.6M	20x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.884	−0.022%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.915	+0.012%	$419K	$299K	10x	as long as short
Phoenix CRCL	+0.0182%	1h	91.770	−0.146%	$27K	$82K	10x	as long as short
edgeX CRCLUSDC	+0.0226%	4h	91.934	+0.033%	$51K	$276K	10x	as long as short
Lighter CRCLlong	+0.0264%	1h	91.904	long leg	$3.0M	$2.4M	10x
Deribit CRCL_USDC-PERPETUAL	+0.0294%	1h	91.890	−0.015%	$4K	$768K	10x	as long as short
Nado CRCL-PERP	+0.0358%	1h	91.885	−0.020%	$134K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.440	+0.583%	$5K	$19K	30x	as long as short