Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h +0.020%

Price spread now: Extended against Orderly−0.018%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Extended

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 airdropExtended: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_CRCL_USDC_mythos	92.010	0.0100	pay 0.0100% / 8h	3h 27m	$917	$2K	10x
Short	Extended CRCL_24_5-USD	91.993	0.0032	get 0.0004% / 1h	27m 27s	$1.2M	$5.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.018%Rate

Funding earned: −$14.28
Price spread: −0.018% → 0.000%: −$1.81
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$27.09
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Extended: live order book, 1 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 Extended live order book, 1 min ago	0.38 bp	2.9 bp −$3	10.9 bp −$109	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	−0.0692%	8h	92.060	+0.054%	$16.6M	$35.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0062%	1h	91.820	−0.206%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.020	+0.011%	$14.9M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.070	+0.065%	$7.3M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.099	+0.097%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.990	−0.022%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0023%	8h	92.042	+0.034%	$1.1M	$5.0M	20x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.059	+0.053%	$976K	$2.9M	10x	as long as short
Extended CRCL_24_5-USDshort	+0.0032%	1h	91.993	−0.018%	$1.2M	$5.7M	10x
Binance CRCLUSDT	+0.0033%	8h	92.020	+0.011%	$104.7M	$392.2M	50x	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	+0.0040%	1h	91.956	−0.059%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.970	−0.043%	$94K	$273K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.890	−0.130%	$907K	$510K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.962	−0.052%	$68.4M	$41.9M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.008	−0.002%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.028	+0.020%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.950	−0.065%	$1.0M	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0059%	8h	92.032	+0.023%	$423	$905	5x	as long as short
QFEX CRCL-USD	+0.0060%	1h	92.030	+0.022%	$1.3M	$1.9M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0097%	8h	92.050	+0.043%	$22.4M	$61.8M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	92.040	+0.033%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.990	−0.022%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.970	−0.043%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythoslong	+0.0100%	8h	92.010	long leg	$917	$2K	10x
GRVT CRCL_USDT_Perp	+0.0101%	8h	92.040	+0.033%	$70K	$1.1M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.009	−0.002%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	92.035	+0.027%	$418K	$299K	10x	as long as short
BloFin CRCL-USDT	+0.0128%	8h	92.000	−0.011%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0182%	1h	91.924	−0.093%	$27K	$82K	10x	as long as short
edgeX CRCLUSDC	+0.0275%	4h	92.028	+0.020%	$51K	$275K	10x	as long as short
Lighter CRCL	+0.0280%	1h	92.050	+0.043%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0363%	1h	92.007	−0.004%	$134K	$107K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0402%	1h	92.030	+0.022%	$4K	$768K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.350	+0.370%	$5K	$19K	30x	as long as short