Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0119%/8h= −13.0% APRpaid last 24h −0.019%

Price spread now: Lighter RH against Paradex−0.007%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 Lighter RH

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 RH: Points live · 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	91.661	0.0151	pay 0.0151% / 8h	2h 04m	$422	$905	5x
Short	Lighter RH CRCL	91.654	0.0032	get 0.0004% / 1h	4m 22s	$977K	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.007%Rate

Funding earned: −$24.99
Price spread: −0.007% → 0.000%: −$0.73
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$29.72
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Lighter RH: live order book, 4 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 RH live order book, 4 min ago	3.98 bp	5.0 bp −$5	7.7 bp −$77	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	−0.0844%	8h	91.690	+0.032%	$17.5M	$37.1M	25x	as long as short
Vest CRCL-USD-PERP	−0.0082%	1h	91.390	−0.295%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.620	−0.044%	$14.7M	$26.8M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.660	−0.001%	$7.7M	$27.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.719	+0.064%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.670	+0.010%	$1.0M	$48K	10x	as long as short
Lighter RH CRCLshort	+0.0032%	1h	91.654	−0.007%	$977K	$2.9M	10x
Aftermath Perps CRCLUSD	+0.0038%	1h	91.546	−0.125%	$2K	$27K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.610	−0.055%	$93K	$289K	10x	as long as short
Aster CRCLUSDT	+0.0048%	8h	91.559	−0.111%	$1.0M	$5.1M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX CRCL-USD	+0.0050%	1h	91.628	−0.036%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.630	−0.033%	$1.1M	$5.2M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	91.640	−0.023%	$1.3M	$1.8M	10x	as long as short
Extended CRCL_24_5-USD	+0.0056%	1h	91.614	−0.051%	$1.0M	$5.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0060%	1h	91.610	−0.055%	$384K	$1.3M	10x	as long as short
Binance CRCLUSDT	+0.0063%	8h	91.630	−0.033%	$104.7M	$397.7M	50x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	91.590	−0.077%	$892K	$606K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0078%	1h	91.577	−0.091%	$67.8M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.620	−0.044%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.610	−0.055%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.570	−0.099%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.620	−0.044%	$913	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.646	−0.016%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	91.670	+0.010%	$417K	$277K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0147%	8h	91.730	+0.076%	$65K	$1.1M	10x	as long as short
Paradex CRCL-USD-PERPlong	+0.0151%	8h	91.661	long leg	$422	$905	5x
OKX CRCL-USDT-SWAP	+0.0157%	8h	91.650	−0.012%	$22.3M	$62.8M	50x	as long as short
BloFin CRCL-USDT	+0.0179%	8h	91.700	+0.043%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0210%	1h	91.654	−0.007%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0272%	1h	91.665	+0.005%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0341%	1h	91.526	−0.147%	$133K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.150	+0.534%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0609%	4h	91.726	+0.071%	$52K	$277K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0733%	1h	91.620	−0.044%	$5K	$769K	10x	as long as short