Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0178%/8h= +19.5% APRpaid last 24h +0.090%

Price spread now: edgeX against Nado−0.040%7-day average +0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$390.392% of the position

Long on Nado Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.405%+$41 on $10k

Price spread, last 4 days (all we have)+0.404%+$40 · spread now −0.040%, 7d avg +0.022%

Together, before fees+0.809%+ Points / potential airdropNado: Active · edgeX: Active · farm board+$81 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.062% cheaper against Nado than usual: you would sell low and buy high (spread −0.040% now, against its 7-day average of +0.022%). If the spread goes back, that is −$6 on $10k: about 28 hours of funding at the current rate (+$5 a day). At the pace of the last 4 days (+0.405% in total) that is about 13 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado CRCL-PERP	91.222	0.0433	pay 0.0054% / 1h	12m 58s	$134K	$109K	3x
Short	edgeX CRCLUSDC	91.186	0.0610	get 0.0305% / 4h	12m 58s	$52K	$271K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Nado. 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 NadobpFee edgeXbpOrdersPrice spread, now −0.040%Rate

Funding earned: $37.31
Price spread: −0.040% → +0.022%: −$6.19
Slippage, 4 orders: −$23.18
Fee Nado: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$8.06
Costs to cover: 0.392%
Break-even: 8.5 days

Slippage from Nado: live order book, 24 min ago; edgeX: live order book, 25 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 Nado live order book, 24 min ago	2.18 bp	6.8 bp −$7	25.0 bp −$250	doesn't fit	doesn't fit
Sell edgeX live order book, 25 min ago	6.01 bp	11.5 bp −$11	24.1 bp −$241	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	−0.0359%	8h	91.360	+0.151%	$17.5M	$36.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0080%	1h	91.010	−0.232%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.360	+0.151%	$7.9M	$27.8M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.310	+0.097%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.320	+0.108%	$983K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.209	−0.014%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.210	−0.013%	$95K	$296K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.280	+0.064%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.090	−0.145%	$1.1M	$4.8M	10x	as long as short
Bybit CRCLUSDT	+0.0056%	8h	91.320	+0.108%	$14.8M	$26.5M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.320	+0.108%	$1.3M	$1.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.070	−0.167%	$871K	$500K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0092%	1h	91.228	+0.007%	$67.3M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.323	+0.111%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.240	+0.020%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.130	−0.101%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.320	+0.108%	$910	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.314	+0.101%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0120%	8h	91.211	−0.012%	$2.4M	$3.2M	—	as long as short
Polymarket Perps CRCL-USD	+0.0156%	1h	91.310	+0.097%	$378K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0158%	8h	91.294	+0.079%	$420	$905	5x	as long as short
Aster CRCLUSDT	+0.0186%	8h	91.340	+0.130%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0205%	8h	91.290	+0.075%	$104.8M	$389.4M	50x	as long as short
Extended CRCL_24_5-USD	+0.0208%	1h	91.288	+0.072%	$1.0M	$5.0M	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.164	−0.063%	$27K	$74K	10x	as long as short
Lighter CRCL	+0.0240%	1h	91.309	+0.095%	$2.9M	$2.4M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0249%	8h	91.199	−0.025%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0278%	8h	91.330	+0.119%	$22.3M	$61.7M	50x	as long as short
BloFin CRCL-USDT	+0.0325%	8h	91.340	+0.129%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERPlong	+0.0433%	1h	91.222	long leg	$134K	$109K	3x
Injective CRCL/USDC PERP	+0.0440%	1h	91.740	+0.568%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.339	+0.128%	$412K	$270K	10x	as long as short
edgeX CRCLUSDCshort	+0.0610%	4h	91.186	−0.040%	$52K	$271K	10x
Deribit CRCL_USDC-PERPETUAL	+0.0737%	1h	91.320	+0.108%	$5K	$769K	10x	as long as short