Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0388%/8h= +42.4% APRpaid last 24h +0.139%

Price spread now: edgeX against Pacifica+0.200%52s7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs+$11as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$630.625% of the position

Long on Pacifica Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.736%+$74 on $10k

Price spread, last 4 days (all we have)+0.078%+$8 · spread now +0.200%, 7d avg +0.019%

Together, before fees+0.814%+ Points / potential airdropPacifica: Active · edgeX: Active · farm board+$81 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and edgeX is 0.181% dearer against Pacifica than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.019%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica CRCL	91.980	0.0100	pay 0.0013% / 1h	50m 36s	$135K	$159K	10x
Short	edgeX CRCLUSDC	92.164	0.0488	get 0.0244% / 4h	3h 50m	$51K	$276K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.200%Rate

Funding earned: $81.4
Price spread: +0.200% → +0.019%: $18.11
Slippage, 4 orders: −$45.54
Fee Pacifica: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $36.96
Costs to cover: 0.625%
Break-even: 3.8 days

Slippage from Pacifica: live order book, 48 min ago; edgeX: live order book, 2 min ago.

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 live order book, 48 min ago	8.19 bp	19.1 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 2 min ago	5.97 bp	11.5 bp −$12	23.9 bp −$239	doesn't fit	doesn't fit

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	−0.0707%	8h	92.050	+0.076%	$16.8M	$35.4M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.820	−0.174%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.010	+0.033%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.050	+0.076%	$7.3M	$27.2M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.019	+0.042%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.040	+0.065%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0010%	8h	92.022	+0.046%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0013%	8h	91.988	+0.009%	$104.8M	$390.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0016%	1h	91.964	−0.017%	$1.1M	$5.7M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.026	+0.050%	$975K	$2.9M	10x	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	92.050	+0.076%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.050	+0.076%	$94K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.910	−0.076%	$907K	$491K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.930	−0.054%	$68.4M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.002	+0.024%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.989	+0.010%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.930	−0.054%	$1.0M	$5.2M	10x	as long as short
BloFin CRCL-USDT	+0.0051%	8h	91.970	−0.011%	$1.1M	$1.3M	20x	as long as short
QFEX CRCL-USD	+0.0060%	1h	92.030	+0.054%	$1.3M	$1.9M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0062%	8h	92.020	+0.043%	$22.3M	$61.5M	50x	as long as short
GRVT CRCL_USDT_Perp	+0.0064%	8h	92.190	+0.228%	$64K	$1.1M	10x	as long as short
Pacifica CRCLlong	+0.0100%	1h	91.980	long leg	$135K	$159K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	92.020	+0.043%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.120	+0.152%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.010	+0.033%	$917	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.004	+0.026%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	92.000	+0.022%	$418K	$299K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0130%	8h	91.979	−0.001%	$423	$905	5x	as long as short
Phoenix CRCL	+0.0182%	1h	92.079	+0.108%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0296%	1h	92.024	+0.048%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0399%	1h	91.991	+0.012%	$131K	$105K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0402%	1h	92.030	+0.054%	$4K	$768K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.620	+0.696%	$5K	$19K	30x	as long as short
edgeX CRCLUSDCshort	+0.0488%	4h	92.164	+0.200%	$51K	$276K	10x