Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0051%/8h= +5.6% APRpaid last 24h +0.137%

Price spread now: edgeX against QFEX+0.021%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$360.363% of the position

Long on QFEX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.530%+$53 on $10k

Price spread, last 4 days (all we have)+0.573%+$57 · spread now +0.021%, 7d avg +0.012%

Together, before fees+1.104%+ Points / potential airdropedgeX: Active · farm board+$110 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.012%, 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	QFEX CRCL-USD	91.370	0.0023	pay 0.0003% / 1h	53m 04s	$1.3M	$2.2M	10x
Short	edgeX CRCLUSDC	91.389	0.0075	get 0.0037% / 4h	1h 53m	$23K	$267K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against QFEX. 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 QFEXbpFee edgeXbpOrdersPrice spread, now +0.021%Rate

Funding earned: $10.81
Price spread: +0.021% → +0.012%: $0.85
Slippage, 4 orders: −$17.27
Fee QFEX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$24.6
Costs to cover: 0.363%
Break-even: 22.9 days

Slippage from QFEX: live order book, 9 min ago; edgeX: live order book, 10 min ago.

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 QFEX live order book, 9 min ago	1.63 bp	6.6 bp −$7	7.0 bp −$70	14.6 bp −$1,461	doesn't fit
Sell edgeX live order book, 10 min ago	5.98 bp	11.4 bp −$11	23.5 bp −$235	doesn't fit	doesn't fit

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	−0.1111%	8h	91.560	+0.208%	$15.7M	$34.4M	25x	as long as short
Vest CRCL-USD-PERP	−0.0072%	1h	91.170	−0.219%	—	$38K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.330	−0.044%	$901K	$545K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.490	+0.131%	$14.9M	$25.6M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.390	+0.022%	$417K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.530	+0.175%	$7.1M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.580	+0.230%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.610	+0.263%	$63K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.510	+0.153%	$1.0M	$49K	10x	as long as short
Binance CRCLUSDT	+0.0023%	8h	91.464	+0.103%	$103.9M	$383.5M	50x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USDlong	+0.0023%	1h	91.370	long leg	$1.3M	$2.2M	10x
Extended CRCL_24_5-USD	+0.0024%	1h	91.436	+0.073%	$1.1M	$5.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0025%	1h	91.552	+0.199%	$2K	$23K	5x	as long as short
Aster CRCLUSDT	+0.0030%	8h	91.521	+0.166%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0031%	8h	91.540	+0.186%	$21.7M	$58.8M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.498	+0.140%	$969K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.470	+0.109%	$93K	$270K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.439	+0.076%	$68.5M	$41.0M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.364	−0.007%	$354K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.369	−0.001%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.390	+0.022%	$1.0M	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0070%	8h	91.401	+0.034%	$749	$740	5x	as long as short
edgeX CRCLUSDCshort	+0.0075%	4h	91.389	+0.021%	$23K	$267K	10x
Pacifica CRCL	+0.0100%	1h	91.380	+0.011%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.550	+0.197%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.550	+0.197%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.490	+0.131%	$912	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.468	+0.107%	$4	—	10x	as long as short
Phoenix CRCL	+0.0183%	1h	91.382	+0.013%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0187%	1h	91.312	−0.064%	$130K	$103K	3x	as long as short
Lighter CRCL	+0.0240%	1h	91.509	+0.152%	$2.9M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0297%	1h	91.460	+0.099%	$4K	$767K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.900	+0.580%	$5K	$19K	30x	as long as short