Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0066%/8h= +7.2% APRpaid last 24h +0.001%

Price spread now: Paradex against tradeXYZ+0.073%7-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 Paradex

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 airdroptradeXYZ: Active · Paradex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Paradex is 0.073% dearer against tradeXYZ than usual: you sell high and buy low: +$7 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	tradeXYZ xyz:CRCL	92.047	0.0050	pay 0.0006% / 1h	8m 10s	$68.6M	$41.7M	10x
Short	Paradex CRCL-USD-PERP	92.114	0.0116	get 0.0116% / 8h	4h 08m	$424	$905	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.073%Rate

Funding earned: $13.9
Price spread: +0.073% → 0.000%: $7.32
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$0.78
Costs to cover: 0.220%
Break-even: 7.4 days

Slippage unknown: tradeXYZ: live order book, 10 min ago; Paradex: 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, 10 min ago	0.60 bp	9.6 bp −$10	10.9 bp −$109	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	−0.0885%	8h	92.170	+0.134%	$16.6M	$35.2M	25x	as long as short
Vest CRCL-USD-PERP	−0.0069%	1h	91.870	−0.192%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	92.045	−0.002%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	92.092	+0.049%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	92.130	+0.090%	$104.9M	$390.1M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.120	+0.079%	$14.9M	$26.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.140	+0.101%	$419K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.170	+0.134%	$7.3M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.128	+0.088%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.130	+0.090%	$1.0M	$49K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT CRCL_USDT_Perp	+0.0008%	8h	92.126	+0.085%	$64K	$1.1M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.990	−0.062%	$908K	$491K	10x	as long as short
QFEX CRCL-USD	+0.0028%	1h	92.140	+0.101%	$1.3M	$2.0M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.130	+0.090%	$976K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	92.070	+0.025%	$2K	$25K	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0039%	8h	92.130	+0.090%	$22.3M	$61.5M	50x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.060	+0.014%	$94K	$273K	10x	as long as short
tradeXYZ xyz:CRCLlong	+0.0050%	1h	92.047	long leg	$68.6M	$41.7M	10x
Polymarket Perps CRCL-USD	+0.0050%	1h	92.082	+0.038%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.101	+0.059%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.030	−0.018%	$1.0M	$5.2M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.110	+0.068%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.080	+0.036%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.030	−0.018%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.090	+0.047%	$918	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.101	+0.058%	$4	—	10x	as long as short
Paradex CRCL-USD-PERPshort	+0.0116%	8h	92.114	+0.073%	$424	$905	5x
BloFin CRCL-USDT	+0.0120%	8h	92.190	+0.155%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	92.044	−0.003%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0216%	1h	92.129	+0.089%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0314%	1h	92.046	−0.001%	$131K	$105K	3x	as long as short
edgeX CRCLUSDC	+0.0342%	4h	92.128	+0.088%	$51K	$275K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.560	+0.557%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0728%	1h	92.100	+0.058%	$4K	$767K	10x	as long as short