Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.015%

Price spread now: Extended against Paradex−0.064%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 Extended

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 · Extended: Active · farm boardneeds both histories

Funding pays, the price is against you. Extended is 0.064% cheaper against Paradex than usual: you would sell low and buy high (spread −0.064% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 4.8 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CRCL-USD-PERP	91.246	0.0156	pay 0.0156% / 8h	15m 52s	$420	$905	5x
Short	Extended CRCL_24_5-USD	91.188	0.0200	get 0.0025% / 1h	15m 52s	$1.0M	$5.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.064%Rate

Funding earned: $9.24
Price spread: −0.064% → 0.000%: −$6.36
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$6.12
Costs to cover: 0.090%
Break-even: 11.6 days

Slippage unknown: Paradex: no order-book sample; Extended: live order book, 3 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 Extended live order book, 3 min ago	0.49 bp	5.1 bp −$5	26.7 bp −$267	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 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	−0.0359%	8h	91.290	+0.048%	$17.5M	$36.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0079%	1h	90.940	−0.336%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.260	+0.015%	$7.9M	$27.7M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.250	+0.004%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.225	−0.023%	$982K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.194	−0.057%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.200	−0.051%	$95K	$296K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.191	−0.061%	$46K	$3K	10x	as long as short
Bybit CRCLUSDT	+0.0050%	8h	91.250	+0.004%	$14.8M	$26.5M	50x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.200	−0.051%	$1.1M	$4.8M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.250	+0.004%	$1.3M	$1.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.050	−0.215%	$876K	$495K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0093%	1h	91.143	−0.113%	$67.2M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.240	−0.007%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.200	−0.051%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.190	−0.062%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.220	−0.029%	$909	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.226	−0.022%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0120%	8h	91.211	−0.039%	$2.4M	$3.2M	—	as long as short
Polymarket Perps CRCL-USD	+0.0153%	1h	91.218	−0.031%	$378K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERPlong	+0.0156%	8h	91.246	long leg	$420	$905	5x
Aster CRCLUSDT	+0.0184%	8h	91.258	+0.013%	$1.0M	$5.0M	20x	as long as short
Extended CRCL_24_5-USDshort	+0.0200%	1h	91.188	−0.064%	$1.0M	$5.0M	10x
Binance CRCLUSDT	+0.0200%	8h	91.220	−0.029%	$104.7M	$389.5M	50x	as long as short
Phoenix CRCL	+0.0227%	1h	91.195	−0.056%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0247%	8h	91.319	+0.079%	$70K	$1.1M	10x	as long as short
Lighter CRCL	+0.0248%	1h	91.218	−0.031%	$2.9M	$2.4M	10x	as long as short
edgeX CRCLUSDC	+0.0258%	4h	91.261	+0.016%	$52K	$271K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0277%	8h	91.240	−0.007%	$22.2M	$61.6M	50x	as long as short
BloFin CRCL-USDT	+0.0320%	8h	91.260	+0.015%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0432%	1h	91.164	−0.091%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.710	+0.508%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.265	+0.020%	$412K	$272K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0518%	1h	91.210	−0.040%	$5K	$769K	10x	as long as short