Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0276%/8h= +30.2% APRpaid last 24h +0.029%

Price spread now: GRVT against SoDEX+0.140%7-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 GRVT

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 airdropGRVT: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and GRVT is 0.140% dearer against SoDEX than usual: you sell high and buy low: +$14 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX CRCL-USD	91.172	0.0050	pay 0.0006% / 1h	41m 13s	$46K	$3K	10x
Short	GRVT CRCL_USDT_Perp	91.300	0.0326	get 0.0326% / 8h	7h 41m	$62K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.140%Rate

Funding earned: $57.96
Price spread: +0.140% → 0.000%: $14.04
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $55
Costs to cover: 0.170%
Break-even: 0.4 days

Slippage unknown: SoDEX: no order-book sample; GRVT: live order book, 2 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 GRVT live order book, 2 min ago	1.10 bp	6.8 bp −$7	17.8 bp −$178	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
Bitget CRCLUSDT	−0.0145%	8h	91.230	+0.064%	$17.3M	$36.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0092%	1h	91.030	−0.156%	—	$31K	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.210	+0.042%	$1.0M	$48K	10x	as long as short
Bybit CRCLUSDT	+0.0008%	8h	91.180	+0.009%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDT	+0.0030%	8h	91.270	+0.107%	$7.8M	$26.3M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.168	−0.004%	$982K	$2.4M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	91.190	+0.020%	$872K	$505K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.238	+0.072%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.160	−0.013%	$95K	$287K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.126	−0.050%	$67.2M	$44.3M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps CRCL-USD	+0.0050%	1h	91.140	−0.035%	$377K	$1.2M	10x	as long as short
SoDEX CRCL-USDlong	+0.0050%	1h	91.172	long leg	$46K	$3K	10x
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.150	−0.024%	$1.1M	$4.8M	10x	as long as short
QFEX CRCL-USD	+0.0065%	1h	91.210	+0.042%	$1.3M	$1.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.190	+0.020%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.250	+0.086%	$2.6M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.320	+0.162%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.190	+0.020%	$909	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.184	+0.013%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0139%	8h	91.171	−0.001%	$419	$766	5x	as long as short
Variational Omni CRCL	+0.0157%	8h	91.350	+0.195%	$2.4M	$3.3M	—	as long as short
Lighter CRCL	+0.0184%	1h	91.204	+0.035%	$2.9M	$2.1M	10x	as long as short
Aster CRCLUSDT	+0.0221%	8h	91.240	+0.074%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0236%	8h	91.182	+0.011%	$104.8M	$387.7M	50x	as long as short
Extended CRCL_24_5-USD	+0.0240%	1h	91.173	+0.001%	$1.1M	$5.1M	10x	as long as short
Phoenix CRCL	+0.0254%	1h	91.196	+0.026%	$27K	$66K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0294%	8h	91.200	+0.031%	$22.2M	$61.4M	50x	as long as short
GRVT CRCL_USDT_Perpshort	+0.0326%	8h	91.300	+0.140%	$62K	$1.1M	10x
BloFin CRCL-USDT	+0.0356%	8h	91.200	+0.031%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0362%	1h	91.118	−0.059%	$134K	$109K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0408%	1h	91.180	+0.009%	$5K	$769K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.170	+1.095%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0501%	1h	91.225	+0.058%	$412K	$258K	10x	as long as short
edgeX CRCLUSDC	+0.0927%	4h	91.362	+0.208%	$52K	$271K	10x	as long as short