Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0487%/8h= +53.3% APRpaid last 24h +0.109%

Price spread now: edgeX against Binance−0.378%110s7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs+$32as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$370.365% of the position

Long on Binance Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.684%+$68 on $10k

Price spread, last 2 days (all we have)+0.354%+$35 · spread now −0.378%, 7d avg −0.011%

Together, before fees+1.038%+ Points / potential airdropedgeX: Active · farm board+$104 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.368% cheaper against Binance than usual: you would sell low and buy high (spread −0.378% now, against its 7-day average of −0.011%). If the spread goes back, that is −$37 on $10k: about 2.5 days of funding at the current rate (+$15 a day). The two prices were read 110 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	Binance CRCLUSDT	92.083	0.0078	pay 0.0078% / 8h	6h 35m	$105.1M	$393.1M	50x
Short	edgeX CRCLUSDC	91.735	0.0565	get 0.0282% / 4h	2h 35m	$23K	$267K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Binance. 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 BinancebpFee edgeXbpOrdersPrice spread, now −0.378%Rate

Funding earned: $102.27
Price spread: −0.378% → −0.011%: −$36.76
Slippage, 4 orders: −$17.53
Fee Binance: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $28.98
Costs to cover: 0.365%
Break-even: 5.0 days

Slippage from Binance: live order book, 8 min ago; edgeX: live order book, 32 min ago.

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 Binance live order book, 8 min ago	0.54 bp	6.5 bp −$7	10.2 bp −$102	29.8 bp −$2,976	182.2 bp −$91.1K
Sell edgeX live order book, 32 min ago	6.38 bp	12.0 bp −$12	24.0 bp −$240	doesn't fit	doesn't fit

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	−0.0361%	8h	92.140	+0.062%	$16.0M	$35.3M	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.990	−0.101%	$916K	$586K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.100	+0.018%	$15.1M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.017	−0.072%	$420K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.140	+0.062%	$7.2M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.051	−0.035%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.790	−0.319%	$61K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.970	−0.123%	$1.0M	$49K	10x	as long as short
Vest CRCL-USD-PERP	+0.0002%	1h	91.830	−0.275%	—	$37K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0027%	1h	92.005	−0.085%	$2K	$23K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	92.134	+0.055%	$980K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.900	−0.199%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.066	−0.019%	$69.4M	$41.9M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.037	−0.050%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.990	−0.101%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.850	−0.253%	$1.0M	$5.5M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	92.000	−0.090%	$1.3M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0076%	1h	92.130	+0.051%	$4K	$769K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0077%	8h	92.100	+0.018%	$21.7M	$60.3M	50x	as long as short
Binance CRCLUSDTlong	+0.0078%	8h	92.083	long leg	$105.1M	$393.1M	50x
Extended CRCL_24_5-USD	+0.0080%	1h	92.054	−0.032%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0081%	8h	92.066	−0.019%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0084%	8h	92.039	−0.049%	$755	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	92.094	+0.012%	$129K	$154K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.080	−0.004%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.780	−0.329%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.040	−0.047%	$918	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.085	+0.002%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0178%	1h	92.063	−0.022%	$131K	$103K	3x	as long as short
Lighter CRCL	+0.0200%	1h	92.140	+0.062%	$3.0M	$2.4M	10x	as long as short
BloFin CRCL-USDT	+0.0222%	8h	92.330	+0.268%	$1.1M	$1.1M	20x	as long as short
Phoenix CRCL	+0.0231%	1h	91.730	−0.384%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.270	+0.203%	$5K	$19K	30x	as long as short
edgeX CRCLUSDCshort	+0.0565%	4h	91.735	−0.378%	$23K	$267K	10x