Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0118%/8h= +12.9% APRpaid last 24h −0.013%

Price spread now: GRVT against QFEX+0.117%7-day average +0.034% · 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−$21as in the Price arb table

costs, in and out, $10k−$300.295% of the position

Long on QFEX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.055%−$6 on $10k

Price spread, last 3 days (all we have)+0.106%+$11 · spread now +0.117%, 7d avg +0.034%

Together, before fees+0.051%+ Points / potential airdropGRVT: Active · farm board+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and GRVT is 0.083% dearer against QFEX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.034%. Mind the row above: over the last 3 days funding on this pair cost −0.055%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CRCL-USD	94.160	0.0033	pay 0.0004% / 1h	13m 19s	$1.4M	$2.7M	10x
Short	GRVT CRCL_USDT_Perp	94.270	0.0151	get 0.0151% / 8h	1h 13m	$63K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.117%Rate

Funding earned: $24.77
Price spread: +0.117% → +0.034%: $8.32
Slippage, 4 orders: −$10.53
Fee QFEX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $3.56
Costs to cover: 0.295%
Break-even: 6.0 days

Slippage from QFEX: live order book, 4 min ago; GRVT: live order book, 5 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, 4 min ago	1.59 bp	6.6 bp −$7	9.1 bp −$91	13.8 bp −$1,377	doesn't fit
Sell GRVT live order book, 5 min ago	0.53 bp	8.6 bp −$9	19.4 bp −$194	doesn't fit	doesn't fit

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
Gate CRCL_USDT	0.0000%	8h	94.190	+0.032%	$7.2M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.190	+0.032%	$1.0M	$52K	10x	as long as short
edgeX CRCLUSDC	+0.0003%	4h	94.285	+0.133%	$24K	$268K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.223	+0.067%	$888K	$2.9M	10x	as long as short
QFEX CRCL-USDlong	+0.0033%	1h	94.160	long leg	$1.4M	$2.7M	10x
Vest CRCL-USD-PERP	+0.0046%	1h	94.060	−0.106%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0048%	1h	94.173	+0.014%	$2K	$20K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.148	−0.013%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.166	+0.006%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.110	−0.053%	$1.1M	$5.8M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International CRCL-PERP-INTX	+0.0080%	1h	94.100	−0.064%	$936K	$730K	10x	as long as short
Bybit CRCLUSDT	+0.0084%	8h	94.210	+0.053%	$15.5M	$25.8M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	94.140	−0.021%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.230	+0.074%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.220	+0.064%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.190	+0.032%	$939	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.178	+0.019%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0138%	8h	94.184	+0.025%	$772	$740	5x	as long as short
Variational Omni CRCL	+0.0138%	8h	94.263	+0.110%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perpshort	+0.0151%	8h	94.270	+0.117%	$63K	$1.2M	10x
RISEx CRCL/USDC	+0.0159%	1h	94.190	+0.032%	$430K	$310K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0173%	1h	94.148	−0.013%	$70.6M	$42.8M	10x	as long as short
Binance CRCLUSDT	+0.0180%	8h	94.180	+0.021%	$108.3M	$388.4M	50x	as long as short
Extended CRCL_24_5-USD	+0.0184%	1h	94.161	+0.001%	$1.1M	$3.8M	10x	as long as short
Aster CRCLUSDT	+0.0199%	8h	94.225	+0.069%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0201%	8h	94.170	+0.011%	$22.7M	$60.3M	50x	as long as short
Phoenix CRCL	+0.0212%	1h	94.287	+0.135%	$28K	$92K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	94.170	+0.011%	$96K	$275K	10x	as long as short
Nado CRCL-PERP	+0.0260%	1h	94.139	−0.022%	$126K	$73K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0281%	1h	94.180	+0.021%	$4K	$772K	10x	as long as short
Lighter CRCL	+0.0288%	1h	94.216	+0.059%	$3.0M	$2.3M	10x	as long as short
BloFin CRCL-USDT	+0.0300%	8h	94.200	+0.042%	$1.1M	$580K	20x	as long as short
Bitget CRCLUSDT	+0.0317%	8h	94.180	+0.021%	$16.6M	$35.1M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.760	+0.637%	$5K	$19K	30x	as long as short