Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0168%/8h= +18.4% APRpaid last 24h +0.016%

Price spread now: Nado against OKX+0.007%7-day average −0.021% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$300.305% of the position

Long on OKX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.090%+$9 on $10k

Price spread, last 4 days (all we have)+0.122%+$12 · spread now +0.007%, 7d avg −0.021%

Together, before fees+0.211%+ Points / potential airdropNado: Active · farm board+$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Nado is 0.028% dearer against OKX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CRCL-USDT-SWAP	91.640	0.0011	pay 0.0011% / 8h	5h 30m	$21.5M	$59.4M	50x
Short	Nado CRCL-PERP	91.646	0.0179	get 0.0022% / 1h	30m 01s	$131K	$104K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.007%Rate

Funding earned: $35.23
Price spread: +0.007% → −0.021%: $2.76
Slippage, 4 orders: −$13.5
Fee OKX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $7.49
Costs to cover: 0.305%
Break-even: 5.5 days

Slippage from OKX: live order book, 4 min ago; Nado: 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, 4 min ago	0.55 bp	7.2 bp −$7	10.9 bp −$109	doesn't fit	doesn't fit
Sell Nado live order book, 32 min ago	3.81 bp	7.5 bp −$7	25.2 bp −$252	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	−0.1314%	8h	91.690	+0.055%	$15.9M	$34.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0076%	1h	91.480	−0.175%	—	$35K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.690	+0.055%	$905K	$529K	10x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.616	−0.027%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.647	+0.008%	$104.6M	$385.1M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.690	+0.055%	$15.0M	$25.7M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.700	+0.065%	$419K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.680	+0.044%	$7.1M	$26.6M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.746	+0.116%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.639	−0.001%	$65K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.640	0.000%	$1.0M	$49K	10x	as long as short
Aster CRCLUSDT	+0.0003%	8h	91.645	+0.006%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAPlong	+0.0011%	8h	91.640	long leg	$21.5M	$59.4M	50x
Aftermath Perps CRCLUSD	+0.0018%	1h	91.609	−0.034%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.660	+0.022%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.672	+0.035%	$973K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.630	−0.011%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.622	−0.020%	$68.5M	$41.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.668	+0.031%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.639	−0.001%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.800	+0.175%	$970K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0068%	8h	91.697	+0.063%	$752	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.728	+0.096%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.670	+0.033%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.610	−0.033%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.630	−0.011%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.634	−0.006%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0109%	8h	91.790	+0.164%	$1.1M	$1.3M	20x	as long as short
Nado CRCL-PERPshort	+0.0179%	1h	91.646	+0.007%	$131K	$104K	3x
Phoenix CRCL	+0.0183%	1h	91.608	−0.035%	$27K	$84K	10x	as long as short
Lighter CRCL	+0.0208%	1h	91.679	+0.043%	$3.0M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0296%	1h	91.650	+0.011%	$4K	$767K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.200	+0.611%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0590%	4h	91.601	−0.043%	$23K	$268K	10x	as long as short