Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0055%/8h= +6.1% APRpaid last 24h +0.117%

Price spread now: edgeX against Bybit+0.226%91s7-day average −0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs+$21as 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−$440.442% of the position

Long on Bybit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.651%+$65 on $10k

Price spread, last 4 days (all we have)+0.324%+$32 · spread now +0.226%, 7d avg −0.018%

Together, before fees+0.975%+ Points / potential airdropedgeX: Active · farm board+$98 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and edgeX is 0.244% dearer against Bybit than usual: you sell high and buy low: +$24 more if the spread goes back to its 7-day average of −0.018%. The two prices were read 91 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	Bybit CRCLUSDT	91.170	0	get 0.0000% / 8h	5h 47m	$14.9M	$25.6M	50x
Short	edgeX CRCLUSDC	91.376	0.0055	get 0.0028% / 4h	1h 47m	$23K	$267K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Bybit. 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 BybitbpFee edgeXbpOrdersPrice spread, now +0.226%Rate

Funding earned: $11.62
Price spread: +0.226% → −0.018%: $24.43
Slippage, 4 orders: −$24.18
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$8.13
Costs to cover: 0.442%
Break-even: 11.9 days

Slippage from Bybit: live order book, 1 min ago; edgeX: live order book, 15 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 Bybit live order book, 1 min ago	1.10 bp	10.1 bp −$10	16.9 bp −$169	doesn't fit	doesn't fit
Sell edgeX live order book, 15 min ago	5.98 bp	11.4 bp −$11	23.5 bp −$235	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	−0.1223%	8h	91.250	+0.088%	$15.6M	$34.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0075%	1h	90.840	−0.362%	—	$35K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.160	−0.011%	$900K	$535K	10x	as long as short
Bybit CRCLUSDTlong	0.0000%	8h	91.170	long leg	$14.9M	$25.6M	50x
RISEx CRCL/USDC	0.0000%	1h	91.100	−0.077%	$416K	$297K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.200	+0.033%	$7.0M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.307	+0.150%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.340	+0.186%	$66K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.200	+0.033%	$1.0M	$49K	10x	as long as short
Binance CRCLUSDT	+0.0012%	8h	91.158	−0.013%	$103.6M	$383.9M	50x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CRCL_24_5-USD	+0.0016%	1h	91.128	−0.046%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0018%	8h	91.122	−0.052%	$1.1M	$4.9M	20x	as long as short
Aftermath Perps CRCLUSD	+0.0022%	1h	91.316	+0.160%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.090	−0.088%	$1.3M	$2.2M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0026%	8h	91.190	+0.022%	$21.4M	$58.9M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.160	−0.011%	$969K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.240	+0.077%	$92K	$271K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.118	−0.057%	$68.2M	$41.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.082	−0.097%	$353K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.078	−0.101%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.050	−0.132%	$973K	$5.1M	10x	as long as short
edgeX CRCLUSDCshort	+0.0055%	4h	91.376	+0.226%	$23K	$267K	10x
Paradex CRCL-USD-PERP	+0.0069%	8h	91.112	−0.064%	$747	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.122	−0.053%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.210	+0.044%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.500	+0.362%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.110	−0.066%	$908	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.126	−0.048%	$4	—	10x	as long as short
Phoenix CRCL	+0.0183%	1h	91.079	−0.100%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0196%	1h	91.064	−0.116%	$130K	$103K	3x	as long as short
Lighter CRCL	+0.0272%	1h	91.172	+0.002%	$2.9M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0299%	1h	91.120	−0.055%	$4K	$767K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.820	+0.713%	$5K	$19K	30x	as long as short