Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.001%

Price spread now: Orderly against tradeXYZ+0.041%55s7-day average — · you sell dearer than you buy

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

Long on tradeXYZ Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdroptradeXYZ: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Orderly is 0.041% dearer against tradeXYZ than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 55 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	tradeXYZ xyz:CRCL	94.411	0.0050	pay 0.0006% / 1h	23m 24s	$71.8M	$42.0M	10x
Short	Orderly PERP_CRCL_USDC_mythos	94.450	0.0100	get 0.0100% / 8h	7h 23m	$942	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against tradeXYZ. 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 tradeXYZbpFee OrderlybpOrdersPrice spread, now +0.041%Rate

Funding earned: $10.5
Price spread: +0.041% → 0.000%: $4.13
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$9.37
Costs to cover: 0.240%
Break-even: 13.2 days

Slippage unknown: tradeXYZ: live order book, 6 min ago; Orderly: no order-book sample. 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 tradeXYZ live order book, 6 min ago	0.85 bp	10.7 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	94.210	−0.213%	$942K	$622K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	94.460	+0.052%	$15.5M	$25.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.460	+0.052%	$7.3M	$27.0M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.506	+0.101%	$67K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.450	+0.041%	$1.0M	$49K	10x	as long as short
Bitget CRCLUSDT	+0.0029%	8h	94.450	+0.041%	$17.0M	$34.6M	25x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.455	+0.047%	$889K	$2.8M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	94.404	−0.007%	$2K	$22K	5x	as long as short
QFEX CRCL-USD	+0.0042%	1h	94.410	−0.001%	$1.4M	$2.6M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.350	−0.065%	—	$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:CRCLlong	+0.0050%	1h	94.411	long leg	$71.8M	$42.0M	10x
Polymarket Perps CRCL-USD	+0.0050%	1h	94.445	+0.036%	$366K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.417	+0.006%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.390	−0.022%	$1.0M	$5.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.380	−0.033%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.470	+0.062%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.410	−0.001%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythosshort	+0.0100%	8h	94.450	+0.041%	$942	$3K	10x
Paradex CRCL-USD-PERP	+0.0104%	8h	94.450	+0.041%	$774	$740	5x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.449	+0.041%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0117%	8h	94.489	+0.083%	$2.5M	$3.1M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0148%	8h	94.470	+0.062%	$22.8M	$59.4M	50x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0174%	1h	94.420	+0.010%	$4K	$769K	10x	as long as short
Extended CRCL_24_5-USD	+0.0184%	1h	94.410	−0.001%	$1.1M	$5.9M	10x	as long as short
Binance CRCLUSDT	+0.0185%	8h	94.450	+0.041%	$109.4M	$385.8M	50x	as long as short
Aster CRCLUSDT	+0.0192%	8h	94.440	+0.031%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0228%	1h	94.391	−0.021%	$132K	$76K	3x	as long as short
Lighter CRCL	+0.0288%	1h	94.477	+0.070%	$3.1M	$2.2M	10x	as long as short
edgeX CRCLUSDC	+0.0294%	4h	94.484	+0.077%	$24K	$268K	10x	as long as short
Phoenix CRCL	+0.0296%	1h	94.424	+0.014%	$28K	$92K	10x	as long as short
BloFin CRCL-USDT	+0.0308%	8h	94.500	+0.094%	$1.1M	$561K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.890	+0.507%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.430	+0.020%	$97K	$271K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	94.450	+0.041%	$431K	$299K	10x	as long as short