Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0516%/8h= +56.5% APRpaid last 24h +0.109%

Price spread now: edgeX against OKX−0.179%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs+$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$380.377% of the position

Long on OKX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.674%+$67 on $10k

Price spread, last 4 days (all we have)+0.400%+$40 · spread now −0.179%, 7d avg −0.007%

Together, before fees+1.074%+ Points / potential airdropedgeX: Active · farm board+$107 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.172% cheaper against OKX than usual: you would sell low and buy high (spread −0.179% now, against its 7-day average of −0.007%). If the spread goes back, that is −$17 on $10k: about 27 hours of funding at the current rate (+$15 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CRCL-USDT-SWAP	91.990	0.0095	pay 0.0095% / 8h	3h 21m	$22.3M	$61.9M	50x
Short	edgeX CRCLUSDC	91.826	0.0611	get 0.0306% / 4h	3h 21m	$51K	$276K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against OKX. 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 OKXbpFee edgeXbpOrdersPrice spread, now −0.179%Rate

Funding earned: $108.44
Price spread: −0.179% → −0.007%: −$17.2
Slippage, 4 orders: −$18.71
Fee OKX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $53.54
Costs to cover: 0.377%
Break-even: 3.5 days

Slippage from OKX: live order book, 3 min ago; edgeX: live order book, 32 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 OKX live order book, 3 min ago	0.54 bp	7.6 bp −$8	13.7 bp −$137	doesn't fit	doesn't fit
Sell edgeX live order book, 32 min ago	5.97 bp	11.5 bp −$12	23.9 bp −$239	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	−0.0698%	8h	92.040	+0.054%	$16.7M	$35.8M	25x	as long as short
Vest CRCL-USD-PERP	−0.0061%	1h	91.710	−0.304%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.980	−0.011%	$14.9M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.060	+0.076%	$7.3M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.918	−0.078%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.950	−0.043%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0014%	8h	91.960	−0.033%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0022%	8h	91.980	−0.011%	$104.8M	$392.6M	50x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.976	−0.015%	$1.2M	$5.7M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.985	−0.005%	$976K	$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	91.888	−0.111%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.820	−0.185%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.770	−0.239%	$911K	$519K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.905	−0.092%	$68.3M	$41.9M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.935	−0.060%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.895	−0.103%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.720	−0.294%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.960	−0.033%	$1.3M	$1.9M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0063%	8h	91.922	−0.074%	$423	$905	5x	as long as short
BloFin CRCL-USDT	+0.0089%	8h	92.000	+0.011%	$1.1M	$1.6M	20x	as long as short
OKX CRCL-USDT-SWAPlong	+0.0095%	8h	91.990	long leg	$22.3M	$61.9M	50x
GRVT CRCL_USDT_Perp	+0.0096%	8h	91.880	−0.120%	$70K	$1.1M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.930	−0.066%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.920	−0.076%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.830	−0.174%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.900	−0.098%	$916	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.981	−0.010%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.954	−0.039%	$419K	$299K	10x	as long as short
Phoenix CRCL	+0.0182%	1h	91.770	−0.239%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0272%	1h	91.979	−0.012%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0356%	1h	91.837	−0.166%	$134K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.440	+0.489%	$5K	$19K	30x	as long as short
edgeX CRCLUSDCshort	+0.0611%	4h	91.826	−0.179%	$51K	$276K	10x
Deribit CRCL_USDC-PERPETUAL	+0.1056%	1h	91.980	−0.011%	$4K	$768K	10x	as long as short