Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0006%/8h= −0.7% APRpaid last 24h +0.042%

Price spread now: Binance against Lighter RH−0.044%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$190.190% of the position

Long on Lighter RH Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.145%+$14 on $10k

Price spread, last 2 days (all we have)+0.044%+$4 · spread now −0.044%, 7d avg −0.004%

Together, before fees+0.189%+ Points / potential airdropLighter RH: Points live · farm board+$19 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: Binance is 0.041% cheaper against Lighter RH than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH CRCL	91.415	0.0032	pay 0.0004% / 1h	53m 58s	$968K	$2.9M	10x
Short	Binance CRCLUSDT	91.375	0.0026	get 0.0026% / 8h	5h 53m	$104.0M	$383.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter RH. 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 Lighter RHbpFee BinancebpOrdersPrice spread, now −0.044%Rate

Funding earned: −$1.29
Price spread: −0.044% → −0.004%: −$4.05
Slippage, 4 orders: −$9.02
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$24.36
Costs to cover: 0.190%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 4 min ago; Binance: 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 Lighter RH live order book, 4 min ago	2.29 bp	4.1 bp −$4	8.9 bp −$89	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	0.55 bp	6.3 bp −$6	9.7 bp −$97	30.5 bp −$3,046	147.0 bp −$73.5K

CRCL on 33 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	−0.1088%	8h	91.440	+0.027%	$15.6M	$34.4M	25x	as long as short
Vest CRCL-USD-PERP	−0.0072%	1h	91.180	−0.257%	—	$38K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.330	−0.093%	$901K	$545K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.370	−0.049%	$14.9M	$25.6M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.460	+0.049%	$418K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.440	+0.027%	$7.1M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.580	+0.180%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.610	+0.213%	$63K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.390	−0.027%	$1.0M	$49K	10x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.420	+0.005%	$1.3M	$2.2M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CRCL_24_5-USD	+0.0024%	1h	91.351	−0.070%	$1.1M	$5.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0025%	1h	91.601	+0.204%	$2K	$23K	5x	as long as short
Binance CRCLUSDTshort	+0.0026%	8h	91.375	−0.044%	$104.0M	$383.6M	50x
OKX CRCL-USDT-SWAP	+0.0031%	8h	91.390	−0.027%	$21.6M	$58.7M	50x	as long as short
Lighter RH CRCLlong	+0.0032%	1h	91.415	long leg	$968K	$2.9M	10x
Aster CRCLUSDT	+0.0035%	8h	91.488	+0.080%	$1.1M	$4.9M	20x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.530	+0.126%	$93K	$270K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.315	−0.109%	$68.5M	$41.0M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.375	−0.044%	$354K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.388	−0.030%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.230	−0.202%	$1.0M	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0070%	8h	91.440	+0.028%	$750	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.451	+0.039%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.500	+0.093%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.550	+0.148%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.450	+0.038%	$912	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.393	−0.024%	$4	—	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0188%	1h	91.380	−0.038%	$4K	$767K	10x	as long as short
Nado CRCL-PERP	+0.0191%	1h	91.417	+0.002%	$130K	$103K	3x	as long as short
Phoenix CRCL	+0.0231%	1h	91.761	+0.378%	$27K	$84K	10x	as long as short
Lighter CRCL	+0.0240%	1h	91.478	+0.069%	$2.9M	$2.4M	10x	as long as short
edgeX CRCLUSDC	+0.0292%	4h	91.590	+0.191%	$23K	$267K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.200	+0.859%	$5K	$19K	30x	as long as short