Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0228%/8h= +25.0% APRpaid last 24h −0.004%

Price spread now: Bitget against Pacifica+0.021%7-day average — · you sell dearer than you buy

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

Long on Pacifica Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.132%+$13 on $10k

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

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

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Bitget is 0.021% dearer against Pacifica than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.132% in total (about 6.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica CRCL	94.370	0.0100	pay 0.0013% / 1h	37m 06s	$76K	$99K	10x
Short	Bitget CRCLUSDT	94.390	0.0328	get 0.0328% / 8h	1h 37m	$16.7M	$35.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Pacifica. 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 PacificabpFee BitgetbpOrdersPrice spread, now +0.021%Rate

Funding earned: $47.88
Price spread: +0.021% → 0.000%: $2.12
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: $30
Costs to cover: 0.200%
Break-even: 2.6 days

Slippage unknown: Pacifica: no order-book sample; Bitget: live order book, 2 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 Pacifica no order-book sample	—	—	—	—	—
Sell Bitget live order book, 2 min ago	1.59 bp	12.0 bp −$12	21.8 bp −$218	72.6 bp −$7,259	doesn't fit

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	94.400	+0.032%	$7.2M	$27.5M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.420	+0.053%	$1.0M	$50K	10x	as long as short
QFEX CRCL-USD	+0.0033%	1h	94.390	+0.021%	$1.4M	$2.7M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.350	−0.021%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0048%	1h	94.396	+0.028%	$2K	$20K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.347	−0.024%	$361K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.340	−0.032%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.390	+0.021%	$1.1M	$5.9M	10x	as long as short
Lighter RH CRCL	+0.0072%	1h	94.376	+0.006%	$890K	$2.9M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0080%	1h	94.360	−0.011%	$939K	$742K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CRCLUSDT	+0.0083%	8h	94.400	+0.032%	$15.5M	$25.8M	50x	as long as short
Pacifica CRCLlong	+0.0100%	1h	94.370	long leg	$76K	$99K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	94.420	+0.053%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.340	−0.032%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.350	−0.021%	$941	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.367	−0.003%	$4	—	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0107%	8h	94.499	+0.137%	$56K	$1.2M	10x	as long as short
Variational Omni CRCL	+0.0107%	8h	94.514	+0.153%	$2.5M	$3.2M	—	as long as short
RISEx CRCL/USDC	+0.0159%	1h	94.430	+0.064%	$431K	$310K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0165%	1h	94.334	−0.038%	$70.7M	$42.8M	10x	as long as short
Extended CRCL_24_5-USD	+0.0168%	1h	94.342	−0.029%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0171%	8h	94.359	−0.012%	$108.4M	$388.2M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0171%	8h	94.392	+0.024%	$774	$740	5x	as long as short
Aster CRCLUSDT	+0.0197%	8h	94.414	+0.047%	$1.1M	$4.8M	20x	as long as short
Phoenix CRCL	+0.0212%	1h	94.494	+0.131%	$28K	$92K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	94.400	+0.032%	$97K	$275K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0223%	8h	94.370	0.000%	$22.8M	$60.4M	50x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0280%	1h	94.360	−0.011%	$4K	$771K	10x	as long as short
BloFin CRCL-USDT	+0.0291%	8h	94.350	−0.021%	$1.1M	$580K	20x	as long as short
Nado CRCL-PERP	+0.0295%	1h	94.342	−0.029%	$126K	$74K	3x	as long as short
Bitget CRCLUSDTshort	+0.0328%	8h	94.390	+0.021%	$16.7M	$35.1M	25x
Lighter CRCL	+0.0336%	1h	94.392	+0.023%	$3.0M	$2.3M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.850	+0.509%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0656%	4h	94.475	+0.112%	$24K	$267K	10x	as long as short