Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0118%/8h= +12.9% APRpaid last 24h +0.077%

Price spread now: Deribit against Paradex−0.066%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Deribit is 0.066% cheaper against Paradex than usual: you would sell low and buy high (spread −0.066% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 45 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CRCL-USD-PERP	91.440	0.0070	pay 0.0070% / 8h	5h 54m	$750	$740	5x
Short	Deribit CRCL_USDC-PERPETUAL	91.380	0.0188	get 0.0023% / 1h	54m 11s	$4K	$767K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Paradex. 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 ParadexbpFee DeribitbpOrdersPrice spread, now −0.066%Rate

Funding earned: $24.68
Price spread: −0.066% → 0.000%: −$6.59
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $7.09
Costs to cover: 0.110%
Break-even: 5.0 days

Slippage unknown: Paradex: no order-book sample; Deribit: live order book, 10 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 Paradex no order-book sample	—	—	—	—	—
Sell Deribit live order book, 10 min ago	0.54 bp	7.3 bp −$7	9.4 bp −$94	doesn't fit	doesn't fit

Paradex: 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 33 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	−0.1088%	8h	91.460	+0.022%	$15.6M	$34.4M	25x	as long as short
Vest CRCL-USD-PERP	−0.0072%	1h	91.180	−0.285%	—	$38K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.330	−0.121%	$901K	$545K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.400	−0.044%	$14.9M	$25.6M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.460	+0.022%	$418K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.440	0.000%	$7.1M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.580	+0.153%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.610	+0.186%	$63K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.390	−0.055%	$1.0M	$49K	10x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.420	−0.022%	$1.3M	$2.2M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CRCL_24_5-USD	+0.0024%	1h	91.388	−0.057%	$1.1M	$5.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0025%	1h	91.601	+0.176%	$2K	$23K	5x	as long as short
Binance CRCLUSDT	+0.0026%	8h	91.392	−0.052%	$104.0M	$383.5M	50x	as long as short
OKX CRCL-USDT-SWAP	+0.0031%	8h	91.390	−0.055%	$21.7M	$58.7M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.415	−0.028%	$968K	$2.9M	10x	as long as short
Aster CRCLUSDT	+0.0035%	8h	91.490	+0.055%	$1.1M	$4.9M	20x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.530	+0.098%	$93K	$270K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.315	−0.137%	$68.5M	$41.0M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.375	−0.071%	$354K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.388	−0.057%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.230	−0.230%	$1.0M	$5.2M	10x	as long as short
Paradex CRCL-USD-PERPlong	+0.0070%	8h	91.440	long leg	$750	$740	5x
Pacifica CRCL	+0.0100%	1h	91.451	+0.012%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.500	+0.065%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.550	+0.120%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.450	+0.011%	$912	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.393	−0.051%	$4	—	10x	as long as short
Deribit CRCL_USDC-PERPETUALshort	+0.0188%	1h	91.380	−0.066%	$4K	$767K	10x
Nado CRCL-PERP	+0.0191%	1h	91.417	−0.025%	$130K	$103K	3x	as long as short
Phoenix CRCL	+0.0231%	1h	91.761	+0.351%	$27K	$84K	10x	as long as short
Lighter CRCL	+0.0240%	1h	91.478	+0.041%	$2.9M	$2.4M	10x	as long as short
edgeX CRCLUSDC	+0.0292%	4h	91.590	+0.163%	$23K	$267K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.200	+0.831%	$5K	$19K	30x	as long as short