Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0028%/8h= +3.0% APRpaid last 24h +0.009%

Price spread now: Paradex against Coinbase International+0.140%7-day average — · you sell dearer than you buy

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

Long on Coinbase International 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 airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Paradex is 0.140% dearer against Coinbase International than usual: you sell high and buy low: +$14 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	Coinbase International CRCL-PERP-INTX	91.770	0.0048	pay 0.0006% / 1h	5m 04s	$914K	$522K	10x
Short	Paradex CRCL-USD-PERP	91.899	0.0076	get 0.0076% / 8h	3h 05m	$423	$905	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Coinbase International. 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 Coinbase InternationalbpFee ParadexbpOrdersPrice spread, now +0.140%Rate

Funding earned: $5.81
Price spread: +0.140% → 0.000%: $14.01
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: $5.82
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Coinbase International: live order book, 48 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 Coinbase International live order book, 48 min ago	4.88 bp	9.9 bp −$10	14.7 bp −$147	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	−0.0675%	8h	91.940	+0.185%	$16.6M	$35.8M	25x	as long as short
Vest CRCL-USD-PERP	−0.0062%	1h	91.650	−0.131%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.910	+0.153%	$14.8M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.990	+0.240%	$7.4M	$27.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.949	+0.195%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.890	+0.131%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0014%	8h	91.922	+0.166%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0024%	8h	91.900	+0.142%	$104.7M	$392.8M	50x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.889	+0.130%	$1.2M	$5.6M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.925	+0.169%	$974K	$2.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0039%	1h	91.866	+0.104%	$2K	$26K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.850	+0.087%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTXlong	+0.0048%	1h	91.770	long leg	$914K	$522K	10x
tradeXYZ xyz:CRCL	+0.0050%	1h	91.833	+0.069%	$68.1M	$42.3M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.880	+0.120%	$386K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.888	+0.129%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.890	+0.131%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.880	+0.120%	$1.3M	$1.9M	10x	as long as short
Paradex CRCL-USD-PERPshort	+0.0076%	8h	91.899	+0.140%	$423	$905	5x
GRVT CRCL_USDT_Perp	+0.0085%	8h	91.859	+0.097%	$70K	$1.1M	10x	as long as short
BloFin CRCL-USDT	+0.0096%	8h	91.920	+0.163%	$1.1M	$1.6M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0099%	8h	91.930	+0.174%	$22.4M	$61.9M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.900	+0.141%	$136K	$160K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.890	+0.131%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.800	+0.033%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.900	+0.142%	$916	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.890	+0.130%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.890	+0.131%	$418K	$299K	10x	as long as short
Phoenix CRCL	+0.0182%	1h	91.893	+0.134%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0248%	1h	91.921	+0.165%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0348%	1h	91.853	+0.091%	$134K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.643%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0512%	1h	91.900	+0.142%	$4K	$768K	10x	as long as short
edgeX CRCLUSDC	+0.0757%	4h	91.849	+0.086%	$51K	$276K	10x	as long as short