Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0073%/8h= −8.0% APRpaid last 24h +0.139%

Price spread now: edgeX against Orderly+0.463%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

The price spread pays, funding is against you. edgeX is 0.463% dearer against Orderly than usual: you sell high and buy low (spread +0.463% now, against zero (this spread has no 7-day history yet)): +$46 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 21 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_CRCL_USDC_mythos	90.790	0.0100	pay 0.0100% / 8h	2h 27m	$905	$2K	10x
Short	edgeX CRCLUSDC	91.211	0.0027	get 0.0013% / 4h	2h 27m	$52K	$278K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Orderly. 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 OrderlybpFee edgeXbpOrdersPrice spread, now +0.463%Rate

Funding earned: −$15.4
Price spread: +0.463% → 0.000%: $46.33
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $15.93
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; edgeX: live order book, 20 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell edgeX live order book, 20 min ago	6.01 bp	11.6 bp −$12	23.6 bp −$236	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0928%	8h	90.860	+0.077%	$16.6M	$36.4M	25x	as long as short
Vest CRCL-USD-PERP	−0.0073%	1h	90.560	−0.253%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	90.800	+0.011%	$14.5M	$26.9M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	90.840	+0.055%	$7.5M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.161	+0.408%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	90.820	+0.033%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0011%	8h	90.831	+0.045%	$1.0M	$5.1M	20x	as long as short
Binance CRCLUSDT	+0.0024%	8h	90.785	−0.006%	$103.2M	$395.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	90.752	−0.042%	$1.0M	$5.7M	10x	as long as short
edgeX CRCLUSDCshort	+0.0027%	4h	91.211	+0.463%	$52K	$278K	10x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	90.819	+0.032%	$969K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.040	+0.275%	$93K	$291K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	91.073	+0.312%	$2K	$26K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	90.729	−0.067%	$67.8M	$43.5M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	90.770	−0.022%	$380K	$1.3M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	90.800	+0.011%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	90.840	+0.055%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	90.800	+0.011%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	90.800	+0.011%	$895K	$576K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0081%	1h	90.750	−0.044%	$4K	$768K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0090%	8h	90.781	−0.009%	$418	$905	5x	as long as short
BloFin CRCL-USDT	+0.0096%	8h	90.820	+0.033%	$1.1M	$1.6M	20x	as long as short
Pacifica CRCL	+0.0100%	1h	90.814	+0.026%	$133K	$161K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	90.810	+0.022%	$2.6M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.130	+0.374%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythoslong	+0.0100%	8h	90.790	long leg	$905	$2K	10x
Aevo CRCL-PERP	+0.0104%	1h	90.781	−0.010%	$4	—	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0105%	8h	91.230	+0.484%	$62K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0110%	8h	90.810	+0.022%	$21.9M	$61.7M	50x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	90.810	+0.022%	$413K	$294K	10x	as long as short
Phoenix CRCL	+0.0210%	1h	91.148	+0.394%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0216%	1h	90.820	+0.033%	$2.9M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0305%	1h	90.735	−0.060%	$132K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.650	+0.947%	$5K	$19K	30x	as long as short