Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.018%

Price spread now: Pacifica against Gate−0.128%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

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

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

Funding pays, the price is against you. Pacifica is 0.128% cheaper against Gate than usual: you would sell low and buy high (spread −0.128% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 4.3 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.064%, 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	94.050	0	get 0.0000% / 8h	7h 04m	$7.2M	$27.1M	50x
Short	Pacifica CRCL	93.930	0.0100	get 0.0013% / 1h	4m 24s	$75K	$96K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.128%Rate

Funding earned: $21
Price spread: −0.128% → 0.000%: −$12.76
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$14.76
Costs to cover: 0.230%
Break-even: 11.9 days

Slippage unknown: Gate: live order book, 4 min ago; Pacifica: 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 Gate live order book, 4 min ago	1.06 bp	11.9 bp −$12	21.1 bp −$211	doesn't fit	doesn't fit
Sell Pacifica no order-book sample	—	—	—	—	—

Pacifica: 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
Coinbase International CRCL-PERP-INTX	−0.0064%	1h	94.000	−0.053%	$940K	$620K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	94.000	−0.053%	$15.4M	$25.4M	50x	as long as short
Gate CRCL_USDTlong	0.0000%	8h	94.050	long leg	$7.2M	$27.1M	50x
Bitget CRCLUSDT	0.0000%	8h	94.010	−0.043%	$16.8M	$34.3M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	93.920	−0.138%	$1.0M	$49K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	93.939	−0.118%	$982K	$2.9M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0035%	8h	94.270	+0.234%	$62K	$1.1M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	94.018	−0.034%	$2K	$22K	5x	as long as short
QFEX CRCL-USD	+0.0042%	1h	93.960	−0.096%	$1.4M	$2.5M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	93.840	−0.223%	—	$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	93.950	−0.106%	$71.5M	$40.6M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	93.980	−0.074%	$364K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	93.918	−0.140%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	93.880	−0.181%	$1.1M	$5.7M	10x	as long as short
Variational Omni CRCL	+0.0078%	8h	93.978	−0.077%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0099%	8h	93.954	−0.102%	$770	$740	5x	as long as short
Pacifica CRCLshort	+0.0100%	1h	93.930	−0.128%	$75K	$96K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	94.020	−0.032%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.140	+0.096%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.000	−0.053%	$937	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	93.915	−0.143%	$4	—	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0128%	8h	93.990	−0.064%	$22.7M	$58.8M	50x	as long as short
Binance CRCLUSDT	+0.0153%	8h	94.010	−0.043%	$108.9M	$385.1M	50x	as long as short
Aster CRCLUSDT	+0.0156%	8h	94.029	−0.023%	$1.1M	$4.9M	20x	as long as short
Extended CRCL_24_5-USD	+0.0160%	1h	93.958	−0.098%	$1.1M	$5.7M	10x	as long as short
Nado CRCL-PERP	+0.0227%	1h	93.852	−0.210%	$131K	$76K	3x	as long as short
BloFin CRCL-USDT	+0.0278%	8h	93.940	−0.117%	$1.1M	$576K	20x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0283%	1h	93.870	−0.191%	$4K	$769K	10x	as long as short
Phoenix CRCL	+0.0296%	1h	93.980	−0.074%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0320%	1h	93.964	−0.091%	$3.0M	$2.3M	10x	as long as short
edgeX CRCLUSDC	+0.0340%	4h	94.103	+0.057%	$24K	$267K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.670	+0.659%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.030	−0.021%	$96K	$271K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	93.990	−0.064%	$428K	$297K	10x	as long as short