Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0026%/8h= −2.8% APRpaid last 24h −0.092%

Price spread now: OKX against edgeX−0.269%81s7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$104as 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−$380.375% of the position

Long on edgeX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.661%−$66 on $10k

Price spread, last 4 days (all we have)−0.325%−$32 · spread now −0.269%, 7d avg +0.005%

Together, before fees−0.986%+ Points / potential airdropedgeX: Active · farm board−$99 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.274% cheaper against edgeX than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of +0.005%). Swap the legs. The two prices were read 81 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	edgeX CRCLUSDC	91.376	0.0055	pay 0.0028% / 4h	1h 50m	$23K	$267K	10x
Short	OKX CRCL-USDT-SWAP	91.130	0.0030	get 0.0030% / 8h	5h 50m	$21.4M	$58.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against edgeX. 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 edgeXbpFee OKXbpOrdersPrice spread, now −0.269%Rate

Funding earned: −$5.42
Price spread: −0.269% → +0.005%: −$27.43
Slippage, 4 orders: −$18.52
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$70.38
Costs to cover: 0.375%
Break-even: never at this rate

Slippage from edgeX: live order book, 12 min ago; OKX: live order book, 4 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 edgeX live order book, 12 min ago	5.98 bp	11.6 bp −$12	23.7 bp −$237	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.55 bp	7.5 bp −$7	14.9 bp −$149	103.2 bp −$10.3K	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	−0.1163%	8h	91.210	−0.182%	$15.6M	$34.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0075%	1h	90.980	−0.434%	—	$38K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.160	−0.237%	$900K	$539K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.140	−0.259%	$14.9M	$25.6M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.198	−0.195%	$416K	$297K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.150	−0.248%	$7.0M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.307	−0.076%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.480	+0.114%	$67K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.170	−0.226%	$1.0M	$49K	10x	as long as short
Binance CRCLUSDT	+0.0016%	8h	91.132	−0.268%	$103.5M	$383.5M	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	91.108	−0.293%	$1.1M	$5.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0023%	1h	91.468	+0.100%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.230	−0.160%	$1.3M	$2.2M	10x	as long as short
Aster CRCLUSDT	+0.0025%	8h	91.127	−0.272%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAPshort	+0.0030%	8h	91.130	−0.269%	$21.4M	$58.8M	50x
Lighter RH CRCL	+0.0032%	1h	91.170	−0.226%	$968K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.440	+0.070%	$93K	$270K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.095	−0.308%	$68.2M	$41.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.110	−0.291%	$353K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.140	−0.259%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.160	−0.237%	$973K	$5.1M	10x	as long as short
edgeX CRCLUSDClong	+0.0055%	4h	91.376	long leg	$23K	$267K	10x
Paradex CRCL-USD-PERP	+0.0070%	8h	91.371	−0.006%	$749	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.338	−0.042%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.210	−0.182%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.500	+0.135%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.140	−0.259%	$909	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.133	−0.266%	$4	—	10x	as long as short
Phoenix CRCL	+0.0183%	1h	91.382	+0.006%	$27K	$84K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0189%	1h	91.180	−0.215%	$4K	$767K	10x	as long as short
Nado CRCL-PERP	+0.0205%	1h	91.164	−0.232%	$130K	$103K	3x	as long as short
Lighter CRCL	+0.0280%	1h	91.178	−0.217%	$2.9M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.900	+0.573%	$5K	$19K	30x	as long as short