Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.046%

Price spread now: QFEX against OKX−0.054%7-day average −0.059% · 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−$27as in the Price arb table

costs, in and out, $10k−$280.277% of the position

Long on OKX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.033%−$3 on $10k

Price spread, last 7 days+0.060%+$6 · spread now −0.054%, 7d avg −0.059%

Together, before fees+0.026%+$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CRCL-USDT-SWAP	92.050	0.0028	pay 0.0028% / 8h	4h 15m	$22.1M	$61.2M	50x
Short	QFEX CRCL-USD	92.000	0.0028	get 0.0004% / 1h	15m 30s	$1.3M	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.054%Rate

Funding earned: $0
Price spread: −0.054% → −0.059%: $0.5
Slippage, 4 orders: −$7.72
Fee OKX: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$27.21
Costs to cover: 0.277%
Break-even: 99845.7 days

Slippage from OKX: live order book, 3 min ago; QFEX: live order book, 2 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	0.55 bp	7.7 bp −$8	15.8 bp −$158	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	1.63 bp	6.6 bp −$7	7.0 bp −$70	14.9 bp −$1,489	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	−0.0977%	8h	92.020	−0.033%	$16.5M	$35.1M	25x	as long as short
Vest CRCL-USD-PERP	−0.0069%	1h	91.660	−0.424%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.925	−0.136%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.973	−0.083%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	92.050	0.000%	$104.8M	$389.8M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.040	−0.011%	$14.9M	$26.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.998	−0.056%	$418K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.070	+0.022%	$7.2M	$27.3M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.929	−0.132%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.967	−0.090%	$64K	$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	91.910	−0.152%	$1.0M	$49K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.790	−0.282%	$906K	$490K	10x	as long as short
OKX CRCL-USDT-SWAPlong	+0.0028%	8h	92.050	long leg	$22.1M	$61.2M	50x
QFEX CRCL-USDshort	+0.0028%	1h	92.000	−0.054%	$1.3M	$2.0M	10x
Lighter RH CRCL	+0.0032%	1h	92.016	−0.037%	$975K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0034%	1h	91.886	−0.178%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.860	−0.206%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.927	−0.134%	$68.5M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.913	−0.149%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.945	−0.114%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.760	−0.315%	$1.0M	$5.1M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.970	−0.087%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.920	−0.141%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.850	−0.217%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.910	−0.152%	$916	$2K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0102%	8h	91.970	−0.087%	$423	$905	5x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.919	−0.142%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.950	−0.109%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.825	−0.244%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0200%	1h	92.015	−0.038%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0302%	1h	91.865	−0.201%	$131K	$104K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.400	+0.380%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0693%	4h	91.892	−0.172%	$51K	$277K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0730%	1h	91.940	−0.120%	$4K	$767K	10x	as long as short