Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0024%/8h= −2.6% APRpaid last 24h −0.050%

Price spread now: Lighter RH against OKX+0.036%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$190.195% of the position

Long on OKX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.159%−$16 on $10k

Price spread, last 7 days−0.025%−$3 · spread now +0.036%, 7d avg −0.011%

Together, before fees−0.184%+ Points / potential airdropLighter RH: Points live · farm board−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter RH is 0.047% dearer against OKX than usual: you sell high and buy low (spread +0.036% now, against its 7-day average of −0.011%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.5 days. At the pace of the last 7 days (−0.159% in total) that is about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CRCL-USDT-SWAP	92.030	0.0056	pay 0.0056% / 8h	6h 15m	$21.8M	$60.4M	50x
Short	Lighter RH CRCL	92.063	0.0032	get 0.0004% / 1h	15m 11s	$975K	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$5
Price spread: +0.036% → −0.011%: $4.66
Slippage, 4 orders: −$9.47
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$19.82
Costs to cover: 0.195%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Lighter RH: 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 OKX live order book, 4 min ago	0.54 bp	7.1 bp −$7	10.6 bp −$106	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	0.54 bp	1.2 bp −$1	5.4 bp −$54	doesn't fit	doesn't fit

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	−0.0835%	8h	92.060	+0.033%	$16.1M	$35.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0042%	1h	91.800	−0.250%	—	$40K	25x	as long as short
Gate CRCL_USDT	−0.0012%	8h	92.060	+0.033%	$7.1M	$26.8M	50x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.700	−0.359%	$913K	$580K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.030	0.000%	$15.0M	$25.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.974	−0.060%	$420K	$299K	10x	as long as short
Variational Omni CRCL	0.0000%	8h	91.928	−0.111%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.730	−0.326%	$69K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.010	−0.022%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0024%	1h	91.908	−0.133%	$2K	$23K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCLshort	+0.0032%	1h	92.063	+0.036%	$975K	$2.9M	10x
Arcus CRCL-USD	+0.0040%	1h	91.890	−0.152%	$93K	$273K	10x	as long as short
Extended CRCL_24_5-USD	+0.0048%	1h	91.991	−0.043%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0050%	8h	92.015	−0.016%	$104.9M	$394.3M	50x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.991	−0.042%	$69.1M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.952	−0.085%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.995	−0.038%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.730	−0.326%	$999K	$5.5M	10x	as long as short
OKX CRCL-USDT-SWAPlong	+0.0056%	8h	92.030	long leg	$21.8M	$60.4M	50x
QFEX CRCL-USD	+0.0057%	1h	91.970	−0.065%	$1.3M	$2.3M	10x	as long as short
Aster CRCLUSDT	+0.0059%	8h	92.021	−0.009%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0073%	8h	91.975	−0.060%	$754	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.982	−0.052%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.000	−0.033%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.720	−0.337%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.000	−0.033%	$917	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.014	−0.018%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0153%	1h	91.972	−0.063%	$131K	$104K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0185%	1h	92.040	+0.011%	$4K	$769K	10x	as long as short
Lighter CRCL	+0.0200%	1h	92.073	+0.047%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	91.952	−0.085%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.500	+0.511%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0678%	4h	91.707	−0.351%	$23K	$268K	10x	as long as short