Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0073%/8h= +8.0% APRpaid last 24h +0.028%

Price spread now: Paradex against Phemex−0.016%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Paradex

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex CRCLUSDT	91.990	0	get 0.0000% / 4h	2h 15m	$1.0M	$49K	10x
Short	Paradex CRCL-USD-PERP	91.975	0.0073	get 0.0073% / 8h	6h 15m	$754	$740	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Phemex. 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 PhemexbpFee ParadexbpOrdersPrice spread, now −0.016%Rate

Funding earned: $15.27
Price spread: −0.016% → 0.000%: −$1.62
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$2.35
Costs to cover: 0.160%
Break-even: 8.1 days

Slippage unknown: Phemex: live order book, 2 min ago; Paradex: 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 Phemex live order book, 2 min ago	0.54 bp	41.0 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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	−0.0835%	8h	92.060	+0.076%	$16.1M	$35.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0042%	1h	91.800	−0.207%	—	$40K	25x	as long as short
Gate CRCL_USDT	−0.0012%	8h	92.040	+0.054%	$7.1M	$26.8M	50x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.700	−0.315%	$913K	$580K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.000	+0.011%	$15.0M	$26.0M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.974	−0.017%	$420K	$299K	10x	as long as short
Variational Omni CRCL	0.0000%	8h	91.928	−0.067%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.730	−0.283%	$69K	$1.1M	10x	as long as short
Phemex CRCLUSDTlong	0.0000%	4h	91.990	long leg	$1.0M	$49K	10x
Aftermath Perps CRCLUSD	+0.0024%	1h	91.905	−0.093%	$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	92.008	+0.020%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.890	−0.109%	$93K	$273K	10x	as long as short
Extended CRCL_24_5-USD	+0.0048%	1h	91.952	−0.041%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0050%	8h	91.973	−0.018%	$104.9M	$394.3M	50x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.951	−0.042%	$69.1M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.952	−0.041%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.924	−0.072%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.730	−0.283%	$999K	$5.5M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0057%	8h	92.030	+0.043%	$21.8M	$60.4M	50x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.970	−0.022%	$1.3M	$2.3M	10x	as long as short
Aster CRCLUSDT	+0.0059%	8h	92.014	+0.027%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERPshort	+0.0073%	8h	91.975	−0.016%	$754	$740	5x
Pacifica CRCL	+0.0100%	1h	91.982	−0.008%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.000	+0.011%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.720	−0.294%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.940	−0.054%	$917	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.941	−0.053%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0153%	1h	91.972	−0.019%	$131K	$104K	3x	as long as short
Lighter CRCL	+0.0200%	1h	92.024	+0.037%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	91.952	−0.041%	$27K	$92K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0294%	1h	91.970	−0.022%	$4K	$769K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.500	+0.554%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0678%	4h	91.707	−0.308%	$23K	$268K	10x	as long as short