Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against Orderly−0.106%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 Pacifica

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 airdropPacifica: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.106% cheaper against Orderly than usual: you would sell low and buy high, −$11 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_CRCL_USDC_mythos	94.150	0.0100	pay 0.0100% / 8h	1h 30m	$939	$3K	10x
Short	Pacifica CRCL	94.050	0.0100	get 0.0013% / 1h	30m 02s	$75K	$99K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.106%Rate

Funding earned: $0
Price spread: −0.106% → 0.000%: −$10.62
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$24.62
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Pacifica: no order-book sample. 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 Pacifica no order-book sample	—	—	—	—	—

Orderly and Pacifica: 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
Gate CRCL_USDT	0.0000%	8h	94.140	−0.011%	$7.2M	$27.5M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.140	−0.011%	$1.0M	$50K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.175	+0.027%	$888K	$2.9M	10x	as long as short
QFEX CRCL-USD	+0.0033%	1h	94.140	−0.011%	$1.4M	$2.7M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.190	+0.042%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0048%	1h	94.212	+0.066%	$2K	$20K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.109	−0.044%	$364K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.098	−0.055%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.130	−0.021%	$1.1M	$5.8M	10x	as long as short
Bybit CRCLUSDT	+0.0074%	8h	94.170	+0.021%	$15.5M	$25.9M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International CRCL-PERP-INTX	+0.0080%	1h	94.100	−0.053%	$936K	$740K	10x	as long as short
Pacifica CRCLshort	+0.0100%	1h	94.050	−0.106%	$75K	$99K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	94.200	+0.053%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.170	+0.021%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythoslong	+0.0100%	8h	94.150	long leg	$939	$3K	10x
Aevo CRCL-PERP	+0.0104%	1h	94.159	+0.010%	$4	—	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0122%	8h	94.340	+0.202%	$59K	$1.2M	10x	as long as short
Variational Omni CRCL	+0.0128%	8h	94.183	+0.035%	$2.5M	$3.2M	—	as long as short
tradeXYZ xyz:CRCL	+0.0142%	1h	94.117	−0.035%	$70.6M	$42.8M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0155%	8h	94.098	−0.056%	$772	$740	5x	as long as short
RISEx CRCL/USDC	+0.0159%	1h	94.150	0.000%	$429K	$310K	10x	as long as short
Binance CRCLUSDT	+0.0173%	8h	94.148	−0.002%	$108.2M	$388.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0176%	1h	94.138	−0.013%	$1.1M	$3.8M	10x	as long as short
Aster CRCLUSDT	+0.0197%	8h	94.130	−0.021%	$1.1M	$4.8M	20x	as long as short
edgeX CRCLUSDC	+0.0200%	4h	94.277	+0.135%	$24K	$268K	10x	as long as short
Phoenix CRCL	+0.0212%	1h	94.279	+0.137%	$28K	$92K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0214%	8h	94.160	+0.011%	$22.7M	$60.4M	50x	as long as short
Arcus CRCL-USD	+0.0214%	1h	94.130	−0.021%	$96K	$275K	10x	as long as short
Nado CRCL-PERP	+0.0268%	1h	94.077	−0.078%	$126K	$74K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0281%	1h	94.140	−0.011%	$4K	$771K	10x	as long as short
Lighter CRCL	+0.0288%	1h	94.184	+0.036%	$3.0M	$2.3M	10x	as long as short
BloFin CRCL-USDT	+0.0296%	8h	94.120	−0.032%	$1.1M	$579K	20x	as long as short
Bitget CRCLUSDT	+0.0316%	8h	94.120	−0.032%	$16.6M	$35.2M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.760	+0.648%	$5K	$19K	30x	as long as short