Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0116%/8h= +12.7% APRpaid last 24h +0.053%

Price spread now: BloFin against Extended−0.051%94s7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$5as 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−$280.278% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.229%+$23 on $10k

Price spread, last 4 days (all we have)−0.002%$0 · spread now −0.051%, 7d avg +0.020%

Together, before fees+0.227%+ Points / potential airdropExtended: Active · farm board+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.070% cheaper against Extended than usual: you would sell low and buy high (spread −0.051% now, against its 7-day average of +0.020%). If the spread goes back, that is −$7 on $10k: about 2.0 days of funding at the current rate (+$3 a day). The two prices were read 94 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	Extended CRCL_24_5-USD	92.587	0.0368	pay 0.0046% / 1h	9m 38s	$1.1M	$4.0M	10x
Short	BloFin CRCL-USDT	92.540	0.0484	get 0.0484% / 8h	6h 09m	$1.1M	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Extended. 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 ExtendedbpFee BloFinbpOrdersPrice spread, now −0.051%Rate

Funding earned: $24.28
Price spread: −0.051% → +0.020%: −$7.03
Slippage, 4 orders: −$10.85
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$10.6
Costs to cover: 0.278%
Break-even: 10.1 days

Slippage from Extended: live order book, 2 min ago; BloFin: live order book, 1 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 Extended live order book, 2 min ago	0.49 bp	5.1 bp −$5	35.6 bp −$356	doesn't fit	doesn't fit
Sell BloFin live order book, 1 min ago	1.08 bp	10.1 bp −$10	16.3 bp −$163	36.6 bp −$3,662	doesn't fit

CRCL on 34 exchanges

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
Vest CRCL-USD-PERP	−0.0021%	1h	92.390	−0.213%	—	$30K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.630	+0.047%	$15.0M	$25.1M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.690	+0.111%	$18.1M	$33.7M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.640	+0.057%	$1.0M	$45K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0008%	1h	92.490	−0.105%	$856K	$700K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.595	+0.009%	$1.0M	$2.5M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	92.535	−0.056%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.523	−0.069%	$67.7M	$40.0M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.574	−0.014%	$380K	$850K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.595	+0.009%	$46K	$3K	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.400	−0.202%	$1.1M	$3.8M	10x	as long as short
QFEX CRCL-USD	+0.0080%	1h	92.570	−0.018%	$1.3M	$1.6M	10x	as long as short
Gate CRCL_USDT	+0.0082%	8h	92.680	+0.101%	$7.4M	$26.0M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	92.614	+0.029%	$139K	$141K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.570	−0.018%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.480	−0.115%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.600	+0.014%	$923	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.607	+0.022%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0112%	8h	92.588	+0.001%	$426	$477	5x	as long as short
Phoenix CRCL	+0.0199%	1h	92.631	+0.048%	$27K	$66K	10x	as long as short
Lighter CRCL	+0.0248%	1h	92.625	+0.041%	$3.0M	$2.1M	10x	as long as short
Variational Omni CRCL	+0.0287%	8h	92.574	−0.014%	$2.5M	$3.3M	—	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0290%	1h	92.580	−0.007%	$5K	$470K	10x	as long as short
Nado CRCL-PERP	+0.0315%	1h	92.530	−0.061%	$152K	$112K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0329%	8h	92.640	+0.057%	$22.8M	$57.0M	50x	as long as short
Aster CRCLUSDT	+0.0362%	8h	92.590	+0.003%	$1.1M	$4.5M	20x	as long as short
Binance CRCLUSDT	+0.0367%	8h	92.631	+0.047%	$107.2M	$357.6M	50x	as long as short
Extended CRCL_24_5-USDlong	+0.0368%	1h	92.587	long leg	$1.1M	$4.0M	10x
Arcus CRCL-USD	+0.0368%	1h	92.570	−0.018%	$93K	$226K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.090	−0.537%	$38K	$172K	30x	as long as short
edgeX CRCLUSDC	+0.0457%	4h	92.616	+0.032%	$53K	$269K	10x	as long as short
RISEx CRCL/USDC	+0.0479%	1h	92.604	+0.018%	$415K	$243K	10x	as long as short
BloFin CRCL-USDTshort	+0.0484%	8h	92.540	−0.051%	$1.1M	$1.7M	20x
GRVT CRCL_USDT_Perp	+0.0750%	8h	92.650	+0.068%	$62K	$1.0M	10x	as long as short