Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0890%/8h= +97.5% APRpaid last 24h +0.135%

Price spread now: edgeX against SoDEX+0.181%45s7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on edgeX

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 airdropedgeX: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$27 a day on $10k at the current rate, and edgeX is 0.181% dearer against SoDEX than usual: you sell high and buy low: +$18 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX CRCL-USD	93.640	0.0050	pay 0.0006% / 1h	1m 40s	$47K	$3K	10x
Short	edgeX CRCLUSDC	93.809	0.0940	get 0.0470% / 4h	3h 01m	$24K	$268K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against SoDEX. 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 SoDEXbpFee edgeXbpOrdersPrice spread, now +0.181%Rate

Funding earned: $186.92
Price spread: +0.181% → 0.000%: $18.06
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $187.98
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: SoDEX: no order-book sample; edgeX: live order book, 6 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 SoDEX no order-book sample	—	—	—	—	—
Sell edgeX live order book, 6 min ago	6.38 bp	12.0 bp −$12	24.0 bp −$240	doesn't fit	doesn't fit

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 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
Coinbase International CRCL-PERP-INTX	−0.0064%	1h	93.700	+0.064%	$937K	$601K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	93.600	−0.043%	$15.4M	$25.4M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	93.690	+0.053%	$7.2M	$27.2M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	93.620	−0.021%	$16.7M	$34.3M	25x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	93.950	+0.331%	$62K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	93.670	+0.032%	$1.0M	$49K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	93.628	−0.013%	$979K	$3.0M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	93.902	+0.280%	$2K	$22K	5x	as long as short
QFEX CRCL-USD	+0.0042%	1h	93.600	−0.043%	$1.3M	$2.5M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	93.520	−0.128%	—	$37K	25x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CRCL	+0.0050%	1h	93.586	−0.058%	$71.5M	$40.9M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	93.639	−0.001%	$363K	$1.1M	10x	as long as short
SoDEX CRCL-USDlong	+0.0050%	1h	93.640	long leg	$47K	$3K	10x
Ondo Perps CRCL-USD.P	+0.0050%	1h	93.610	−0.032%	$1.0M	$5.7M	10x	as long as short
Variational Omni CRCL	+0.0078%	8h	93.978	+0.361%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0098%	8h	93.602	−0.041%	$768	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	93.627	−0.013%	$75K	$96K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	93.640	0.000%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	93.750	+0.117%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	93.650	+0.011%	$934	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	93.649	+0.010%	$4	—	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0125%	8h	93.620	−0.021%	$22.6M	$58.6M	50x	as long as short
Binance CRCLUSDT	+0.0141%	8h	93.590	−0.053%	$108.0M	$385.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0144%	1h	93.587	−0.056%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0145%	8h	93.610	−0.032%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0232%	1h	93.632	−0.009%	$155K	$90K	3x	as long as short
BloFin CRCL-USDT	+0.0267%	8h	93.750	+0.117%	$1.1M	$574K	20x	as long as short
Phoenix CRCL	+0.0296%	1h	93.980	+0.363%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0328%	1h	93.643	+0.003%	$3.0M	$2.3M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.410	+0.822%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0521%	1h	93.790	+0.160%	$96K	$271K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	93.603	−0.040%	$428K	$297K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0712%	1h	93.620	−0.021%	$4K	$769K	10x	as long as short
edgeX CRCLUSDCshort	+0.0940%	4h	93.809	+0.181%	$24K	$268K	10x