Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0710%/8h= −77.7% APRpaid last 24h −0.139%

Price spread now: Orderly against edgeX−0.041%49s7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

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

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Orderly is 0.041% cheaper against edgeX than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 49 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	91.207	0.0810	pay 0.0405% / 4h	7m 28s	$52K	$269K	10x
Short	Orderly PERP_CRCL_USDC_mythos	91.170	0.0100	get 0.0100% / 8h	7m 28s	$909	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.041%Rate

Funding earned: −$149.09
Price spread: −0.041% → 0.000%: −$4.07
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$168.15
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 30 min ago; Orderly: 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 edgeX live order book, 30 min ago	6.01 bp	11.3 bp −$11	22.5 bp −$225	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.0355%	8h	91.300	+0.102%	$17.4M	$36.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0083%	1h	90.910	−0.326%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.220	+0.014%	$7.8M	$28.0M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.220	+0.014%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.198	−0.010%	$982K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.170	−0.041%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.180	−0.030%	$95K	$296K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.170	−0.041%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.150	−0.063%	$1.1M	$4.8M	10x	as long as short
Bybit CRCLUSDT	+0.0061%	8h	91.240	+0.036%	$14.8M	$26.5M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.170	−0.041%	$1.3M	$1.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.070	−0.150%	$871K	$500K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0089%	1h	91.146	−0.067%	$67.2M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.150	−0.063%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.240	+0.036%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.120	−0.095%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythosshort	+0.0100%	8h	91.170	−0.041%	$909	$1K	10x
Aevo CRCL-PERP	+0.0104%	1h	91.199	−0.008%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0128%	8h	91.194	−0.015%	$2.4M	$3.3M	—	as long as short
Polymarket Perps CRCL-USD	+0.0152%	1h	91.209	+0.002%	$377K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0157%	8h	91.178	−0.032%	$419	$905	5x	as long as short
Aster CRCLUSDT	+0.0195%	8h	91.245	+0.042%	$1.0M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0208%	1h	91.160	−0.051%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0211%	8h	91.210	+0.003%	$104.8M	$389.3M	50x	as long as short
Phoenix CRCL	+0.0227%	1h	91.187	−0.022%	$27K	$74K	10x	as long as short
Lighter CRCL	+0.0248%	1h	91.199	−0.009%	$2.9M	$2.4M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0250%	8h	91.217	+0.011%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0285%	8h	91.250	+0.047%	$22.3M	$61.7M	50x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0299%	1h	91.170	−0.041%	$5K	$769K	10x	as long as short
BloFin CRCL-USDT	+0.0329%	8h	91.200	−0.008%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0433%	1h	91.131	−0.083%	$133K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.740	+0.584%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.224	+0.019%	$412K	$268K	10x	as long as short
edgeX CRCLUSDClong	+0.0810%	4h	91.207	long leg	$52K	$269K	10x