Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0049%/8h= +5.4% APRpaid last 24h −0.021%

Price spread now: Pacifica against Binance−0.077%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$810.808% of the position

Long on Binance Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

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

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

Funding pays, the price is against you. Pacifica is 0.077% cheaper against Binance than usual: you would sell low and buy high (spread −0.077% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 5.2 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CRCLUSDT	91.930	0.0051	pay 0.0051% / 8h	6h 18m	$104.9M	$393.9M	50x
Short	Pacifica CRCL	91.860	0.0100	get 0.0013% / 1h	18m 09s	$133K	$158K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.077%Rate

Funding earned: $10.34
Price spread: −0.077% → 0.000%: −$7.66
Slippage, 4 orders: −$62.8
Fee Binance: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$78.12
Costs to cover: 0.808%
Break-even: 59.9 days

Slippage from Binance: live order book, 11 min ago; Pacifica: live order book, 31 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, 11 min ago	0.54 bp	5.9 bp −$6	8.7 bp −$87	30.7 bp −$3,073	188.0 bp −$94.0K
Sell Pacifica live order book, 31 min ago	25.99 bp	33.0 bp −$33	doesn't fit	doesn't fit	doesn't fit

CRCL on 33 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	−0.0787%	8h	91.970	+0.044%	$16.0M	$35.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0037%	1h	91.640	−0.315%	—	$40K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.700	−0.250%	$913K	$580K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.940	+0.011%	$15.0M	$25.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.850	−0.087%	$419K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.980	+0.054%	$7.1M	$26.8M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.938	+0.009%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.906	−0.027%	$63K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.980	+0.054%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0024%	1h	91.867	−0.069%	$2K	$23K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	91.970	+0.044%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.800	−0.141%	$93K	$273K	10x	as long as short
Extended CRCL_24_5-USD	+0.0048%	1h	91.925	−0.005%	$1.1M	$5.7M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.870	−0.065%	$69.0M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.843	−0.095%	$355K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.790	−0.152%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.730	−0.218%	$999K	$5.5M	10x	as long as short
Binance CRCLUSDTlong	+0.0051%	8h	91.930	long leg	$104.9M	$393.9M	50x
QFEX CRCL-USD	+0.0057%	1h	91.850	−0.087%	$1.3M	$2.3M	10x	as long as short
Aster CRCLUSDT	+0.0059%	8h	91.909	−0.023%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0060%	8h	91.930	0.000%	$21.8M	$60.3M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0074%	8h	91.825	−0.115%	$753	$740	5x	as long as short
Pacifica CRCLshort	+0.0100%	1h	91.860	−0.077%	$133K	$158K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	91.980	+0.054%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.820	−0.120%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.890	−0.044%	$916	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.898	−0.034%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0153%	1h	91.774	−0.170%	$130K	$103K	3x	as long as short
Lighter CRCL	+0.0200%	1h	91.979	+0.053%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	91.850	−0.087%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.500	+0.620%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0512%	1h	91.920	−0.011%	$4K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0811%	4h	91.882	−0.052%	$23K	$267K	10x	as long as short