Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h +0.008%

Price spread now: Bybit against Pacifica+0.067%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 Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.067% dearer against Pacifica than usual: you sell high and buy low, +$7 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	Pacifica CRCL	94.677	0.0100	pay 0.0013% / 1h	0m 20s	$76K	$99K	10x
Short	Bybit CRCLUSDT	94.740	0.0101	get 0.0101% / 8h	0m 20s	$15.6M	$25.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.067%Rate

Funding earned: $0.21
Price spread: +0.067% → 0.000%: $6.68
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$12.11
Costs to cover: 0.190%
Break-even: 410.6 days

Slippage unknown: Pacifica: no order-book sample; Bybit: live order book, 8 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 Bybit live order book, 8 min ago	1.06 bp	10.6 bp −$11	19.4 bp −$194	doesn't fit	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	94.730	+0.056%	$7.3M	$27.8M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.680	+0.003%	$1.0M	$52K	10x	as long as short
QFEX CRCL-USD	+0.0022%	1h	94.710	+0.035%	$1.4M	$2.8M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.757	+0.085%	$895K	$2.9M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	94.400	−0.292%	$939K	$722K	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.620	−0.060%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0048%	1h	94.633	−0.046%	$2K	$21K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.689	+0.013%	$367K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.726	+0.052%	$48K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.630	−0.049%	$1.1M	$5.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica CRCLlong	+0.0100%	1h	94.677	long leg	$76K	$99K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	94.700	+0.025%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.570	−0.113%	$70K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.700	+0.025%	$944	$3K	10x	as long as short
Bybit CRCLUSDTshort	+0.0101%	8h	94.740	+0.067%	$15.6M	$25.9M	50x
Aevo CRCL-PERP	+0.0104%	1h	94.736	+0.062%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0117%	8h	94.740	+0.067%	$777	$740	5x	as long as short
tradeXYZ xyz:CRCL	+0.0146%	1h	94.687	+0.011%	$71.7M	$43.6M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0172%	8h	94.730	+0.056%	$22.9M	$61.0M	50x	as long as short
Variational Omni CRCL	+0.0187%	8h	94.692	+0.016%	$2.5M	$3.1M	—	as long as short
edgeX CRCLUSDC	+0.0216%	4h	94.705	+0.030%	$24K	$269K	10x	as long as short
Binance CRCLUSDT	+0.0245%	8h	94.716	+0.041%	$109.7M	$390.9M	50x	as long as short
Aster CRCLUSDT	+0.0246%	8h	94.602	−0.079%	$1.1M	$4.9M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0246%	8h	94.580	−0.102%	$54K	$1.1M	10x	as long as short
Extended CRCL_24_5-USD	+0.0248%	1h	94.713	+0.038%	$1.1M	$3.8M	10x	as long as short
Nado CRCL-PERP	+0.0263%	1h	94.649	−0.030%	$133K	$76K	3x	as long as short
Phoenix CRCL	+0.0288%	1h	94.679	+0.002%	$28K	$92K	10x	as long as short
Bitget CRCLUSDT	+0.0295%	8h	94.750	+0.077%	$17.1M	$35.6M	25x	as long as short
Lighter CRCL	+0.0304%	1h	94.749	+0.076%	$3.1M	$2.2M	10x	as long as short
BloFin CRCL-USDT	+0.0364%	8h	94.730	+0.056%	$1.1M	$604K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.560	+0.933%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0533%	1h	94.700	+0.025%	$97K	$276K	10x	as long as short
RISEx CRCL/USDC	+0.0534%	1h	94.721	+0.047%	$432K	$303K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0807%	1h	94.750	+0.077%	$4K	$772K	10x	as long as short