Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.039%

Price spread now: Lighter RH against Gate−0.024%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$330.329% of the position

Long on Gate Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.161%−$16 on $10k

Price spread, last 7 days+0.038%+$4 · spread now −0.024%, 7d avg −0.032%

Together, before fees−0.123%+ Points / potential airdropLighter RH: Points live · farm board−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.032%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.161%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CRCL_USDT	94.480	0	get 0.0000% / 8h	7h 23m	$7.3M	$27.0M	50x
Short	Lighter RH CRCL	94.457	0.0032	get 0.0004% / 1h	23m 02s	$889K	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Gate. 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 GatebpFee Lighter RHbpOrdersPrice spread, now −0.024%Rate

Funding earned: $6.72
Price spread: −0.024% → −0.032%: $0.75
Slippage, 4 orders: −$17.87
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$25.39
Costs to cover: 0.329%
Break-even: 33.5 days

Slippage from Gate: live order book, 6 min ago; Lighter RH: live order book, 5 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 Gate live order book, 6 min ago	1.06 bp	12.2 bp −$12	26.4 bp −$264	doesn't fit	doesn't fit
Sell Lighter RH live order book, 5 min ago	2.81 bp	3.0 bp −$3	6.0 bp −$60	doesn't fit	doesn't fit

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
Coinbase International CRCL-PERP-INTX	−0.0064%	1h	94.210	−0.286%	$942K	$622K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	94.440	−0.042%	$15.5M	$25.6M	50x	as long as short
Gate CRCL_USDTlong	0.0000%	8h	94.480	long leg	$7.3M	$27.0M	50x
GRVT CRCL_USDT_Perp	0.0000%	8h	94.506	+0.028%	$67K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.440	−0.042%	$1.0M	$49K	10x	as long as short
Bitget CRCLUSDT	+0.0029%	8h	94.460	−0.021%	$17.0M	$34.6M	25x	as long as short
Lighter RH CRCLshort	+0.0032%	1h	94.457	−0.024%	$889K	$2.8M	10x
Aftermath Perps CRCLUSD	+0.0041%	1h	94.404	−0.080%	$2K	$22K	5x	as long as short
QFEX CRCL-USD	+0.0042%	1h	94.410	−0.074%	$1.4M	$2.6M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.350	−0.138%	—	$37K	25x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CRCL	+0.0050%	1h	94.396	−0.089%	$71.8M	$42.0M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.445	−0.037%	$366K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.458	−0.023%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.390	−0.095%	$1.0M	$5.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.380	−0.106%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.480	0.000%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.410	−0.074%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.440	−0.042%	$942	$3K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0104%	8h	94.450	−0.032%	$774	$740	5x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.456	−0.026%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0117%	8h	94.489	+0.010%	$2.5M	$3.1M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0148%	8h	94.450	−0.032%	$22.8M	$59.4M	50x	as long as short
Extended CRCL_24_5-USD	+0.0184%	1h	94.430	−0.053%	$1.1M	$5.8M	10x	as long as short
Binance CRCLUSDT	+0.0185%	8h	94.447	−0.035%	$109.4M	$385.8M	50x	as long as short
Aster CRCLUSDT	+0.0192%	8h	94.452	−0.030%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0228%	1h	94.391	−0.094%	$132K	$76K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0280%	1h	94.410	−0.074%	$4K	$769K	10x	as long as short
Lighter CRCL	+0.0288%	1h	94.472	−0.008%	$3.1M	$2.2M	10x	as long as short
edgeX CRCLUSDC	+0.0294%	4h	94.484	+0.004%	$24K	$268K	10x	as long as short
Phoenix CRCL	+0.0296%	1h	94.424	−0.059%	$28K	$92K	10x	as long as short
BloFin CRCL-USDT	+0.0305%	8h	94.460	−0.021%	$1.1M	$561K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.890	+0.434%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.430	−0.053%	$97K	$271K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	94.450	−0.032%	$431K	$299K	10x	as long as short