Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0140%/8h= +15.3% APRpaid last 24h +0.061%

Price spread now: Lighter against Paradex+0.005%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Lighter

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 · Lighter: Season 3 · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CRCL-USD-PERP	91.678	0.0068	pay 0.0068% / 8h	5h 29m	$752	$740	5x
Short	Lighter CRCL	91.682	0.0208	get 0.0026% / 1h	29m 15s	$3.0M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.005%Rate

Funding earned: $29.41
Price spread: +0.005% → 0.000%: $0.46
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: $25.87
Costs to cover: 0.040%
Break-even: 0.8 days

Slippage unknown: Paradex: no order-book sample; Lighter: 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 Lighter live order book, 3 min ago	2.51 bp	2.6 bp −$3	12.9 bp −$129	42.3 bp −$4,228	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	−0.1311%	8h	91.710	+0.035%	$15.8M	$34.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0077%	1h	91.440	−0.259%	—	$35K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.690	+0.013%	$905K	$529K	10x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.634	−0.047%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.660	−0.019%	$104.6M	$385.0M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.710	+0.035%	$15.0M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.665	−0.013%	$418K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.700	+0.024%	$7.1M	$26.6M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.746	+0.075%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.777	+0.109%	$65K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.650	−0.030%	$1.0M	$49K	10x	as long as short
Aster CRCLUSDT	+0.0002%	8h	91.685	+0.008%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0010%	8h	91.680	+0.002%	$21.5M	$59.4M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0018%	1h	91.641	−0.040%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.640	−0.041%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.675	−0.003%	$973K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.630	−0.052%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.627	−0.055%	$68.5M	$41.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.652	−0.028%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.639	−0.042%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.610	−0.074%	$970K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERPlong	+0.0068%	8h	91.678	long leg	$752	$740	5x
Pacifica CRCL	+0.0100%	1h	91.620	−0.063%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.680	+0.002%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.820	+0.155%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.650	−0.030%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.651	−0.029%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.660	−0.019%	$1.1M	$1.3M	20x	as long as short
Nado CRCL-PERP	+0.0181%	1h	91.606	−0.078%	$131K	$104K	3x	as long as short
Phoenix CRCL	+0.0183%	1h	91.684	+0.007%	$27K	$84K	10x	as long as short
Lighter CRCLshort	+0.0208%	1h	91.682	+0.005%	$3.0M	$2.4M	10x
Injective CRCL/USDC PERP	+0.0440%	1h	92.330	+0.711%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0590%	4h	91.601	−0.084%	$23K	$268K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0623%	1h	91.670	−0.008%	$4K	$767K	10x	as long as short