Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0154%/8h= +16.9% APRpaid last 24h +0.015%

Price spread now: OKX against SoDEX−0.005%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on OKX

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—needs 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: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX CRCL-USD	94.705	0.0050	pay 0.0006% / 1h	38m 22s	$48K	$3K	10x
Short	OKX CRCL-USDT-SWAP	94.700	0.0204	get 0.0204% / 8h	38m 22s	$22.9M	$60.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.005%Rate

Funding earned: $32.33
Price spread: −0.005% → 0.000%: −$0.53
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: $13.8
Costs to cover: 0.180%
Break-even: 4.0 days

Slippage unknown: SoDEX: no order-book sample; OKX: live order book, 5 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 OKX live order book, 5 min ago	0.53 bp	8.6 bp −$9	13.7 bp −$137	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
Gate CRCL_USDT	0.0000%	8h	94.710	+0.005%	$7.2M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.740	+0.037%	$1.0M	$52K	10x	as long as short
QFEX CRCL-USD	+0.0022%	1h	94.660	−0.048%	$1.4M	$2.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	94.510	−0.206%	$940K	$723K	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.610	−0.100%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.690	−0.016%	$367K	$1.1M	10x	as long as short
SoDEX CRCL-USDlong	+0.0050%	1h	94.705	long leg	$48K	$3K	10x
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.600	−0.111%	$1.1M	$5.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0052%	1h	94.710	+0.006%	$2K	$21K	5x	as long as short
Lighter RH CRCL	+0.0056%	1h	94.755	+0.053%	$894K	$2.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica CRCL	+0.0100%	1h	94.670	−0.037%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.720	+0.016%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.610	−0.100%	$70K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.710	+0.005%	$944	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.720	+0.015%	$4	—	10x	as long as short
Bybit CRCLUSDT	+0.0104%	8h	94.720	+0.016%	$15.6M	$25.9M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0132%	8h	94.717	+0.013%	$777	$740	5x	as long as short
Variational Omni CRCL	+0.0139%	8h	94.783	+0.083%	$2.6M	$3.1M	—	as long as short
GRVT CRCL_USDT_Perp	+0.0184%	8h	94.784	+0.083%	$61K	$1.1M	10x	as long as short
Extended CRCL_24_5-USD	+0.0200%	1h	94.694	−0.012%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0202%	8h	94.710	+0.005%	$109.5M	$389.7M	50x	as long as short
OKX CRCL-USDT-SWAPshort	+0.0204%	8h	94.700	−0.005%	$22.9M	$60.7M	50x
Aster CRCLUSDT	+0.0212%	8h	94.737	+0.034%	$1.1M	$4.9M	20x	as long as short
tradeXYZ xyz:CRCL	+0.0229%	1h	94.666	−0.041%	$71.1M	$42.9M	10x	as long as short
Phoenix CRCL	+0.0288%	1h	94.749	+0.046%	$28K	$92K	10x	as long as short
Nado CRCL-PERP	+0.0302%	1h	94.661	−0.046%	$127K	$73K	3x	as long as short
Bitget CRCLUSDT	+0.0314%	8h	94.680	−0.026%	$16.9M	$35.4M	25x	as long as short
BloFin CRCL-USDT	+0.0322%	8h	94.710	+0.005%	$1.1M	$594K	20x	as long as short
Lighter CRCL	+0.0416%	1h	94.750	+0.048%	$3.1M	$2.2M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.560	+0.903%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0533%	1h	94.700	−0.005%	$97K	$275K	10x	as long as short
RISEx CRCL/USDC	+0.0534%	1h	94.741	+0.038%	$432K	$312K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0595%	1h	94.730	+0.026%	$4K	$772K	10x	as long as short
edgeX CRCLUSDC	+0.0967%	4h	94.751	+0.049%	$24K	$267K	10x	as long as short