Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h −0.003%

Price spread now: SoDEX against Paradex−0.061%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 SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and SoDEX is 0.061% cheaper against Paradex than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CRCL-USD-PERP	91.981	0.0073	pay 0.0073% / 8h	6h 16m	$754	$740	5x
Short	SoDEX CRCL-USD	91.924	0.0050	get 0.0006% / 1h	16m 09s	$46K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.061%Rate

Funding earned: −$4.87
Price spread: −0.061% → 0.000%: −$6.14
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$23.01
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; SoDEX: no order-book sample. 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 SoDEX no order-book sample	—	—	—	—	—

Paradex and SoDEX: 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	−0.0822%	8h	92.030	+0.054%	$16.0M	$35.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0041%	1h	91.770	−0.229%	—	$40K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.700	−0.305%	$913K	$580K	10x	as long as short
Gate CRCL_USDT	−0.0004%	8h	92.060	+0.086%	$7.1M	$26.8M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.980	−0.001%	$15.0M	$25.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.950	−0.033%	$420K	$299K	10x	as long as short
Variational Omni CRCL	0.0000%	8h	91.938	−0.046%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.730	−0.272%	$69K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.990	+0.010%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0024%	1h	91.905	−0.082%	$2K	$23K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	91.974	−0.007%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.860	−0.131%	$93K	$273K	10x	as long as short
Extended CRCL_24_5-USD	+0.0048%	1h	91.928	−0.057%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0050%	8h	91.968	−0.013%	$104.9M	$394.2M	50x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.944	−0.040%	$69.1M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.956	−0.027%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USDshort	+0.0050%	1h	91.924	−0.061%	$46K	$3K	10x
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.730	−0.272%	$999K	$5.5M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0057%	8h	91.960	−0.022%	$21.7M	$60.4M	50x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.950	−0.033%	$1.3M	$2.3M	10x	as long as short
Aster CRCLUSDT	+0.0059%	8h	91.977	−0.003%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERPlong	+0.0073%	8h	91.981	long leg	$754	$740	5x
Pacifica CRCL	+0.0100%	1h	91.992	+0.013%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.000	+0.021%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.720	−0.283%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.940	−0.044%	$917	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.941	−0.043%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0153%	1h	91.935	−0.050%	$131K	$103K	3x	as long as short
Lighter CRCL	+0.0200%	1h	91.989	+0.009%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	91.850	−0.142%	$27K	$92K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0294%	1h	91.970	−0.011%	$4K	$769K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.500	+0.565%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0678%	4h	91.707	−0.298%	$23K	$268K	10x	as long as short