Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0047%/8h= +5.1% APRpaid last 24h +0.042%

Price spread now: Binance against Lighter RH+0.009%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$180.179% of the position

Long on Lighter RH Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.145%+$14 on $10k

Price spread, last 2 days (all we have)−0.009%−$1 · spread now +0.009%, 7d avg −0.004%

Together, before fees+0.136%+ Points / potential airdropLighter RH: Points live · farm board+$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.004%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH CRCL	92.101	0.0032	pay 0.0004% / 1h	34m 12s	$979K	$2.9M	10x
Short	Binance CRCLUSDT	92.109	0.0079	get 0.0079% / 8h	6h 34m	$105.1M	$392.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter RH. 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 Lighter RHbpFee BinancebpOrdersPrice spread, now +0.009%Rate

Funding earned: $9.79
Price spread: +0.009% → −0.004%: $1.27
Slippage, 4 orders: −$7.93
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$6.87
Costs to cover: 0.179%
Break-even: 11.9 days

Slippage from Lighter RH: live order book, 4 min ago; Binance: live order book, 9 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 Lighter RH live order book, 4 min ago	2.07 bp	2.3 bp −$2	6.2 bp −$62	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.54 bp	6.4 bp −$6	10.3 bp −$103	37.2 bp −$3,716	139.3 bp −$69.6K

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	−0.0424%	8h	92.180	+0.086%	$16.0M	$35.3M	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.990	−0.121%	$916K	$583K	10x	as long as short
Vest CRCL-USD-PERP	−0.0002%	1h	91.870	−0.251%	—	$37K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.120	+0.021%	$15.1M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.124	+0.025%	$421K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.140	+0.042%	$7.2M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.051	−0.055%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.790	−0.338%	$61K	$1.1M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	0.0000%	1h	92.050	−0.055%	$4K	$769K	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.060	−0.045%	$1.0M	$49K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0026%	1h	92.041	−0.065%	$2K	$23K	5x	as long as short
Lighter RH CRCLlong	+0.0032%	1h	92.101	long leg	$979K	$2.9M	10x
Arcus CRCL-USD	+0.0040%	1h	92.000	−0.110%	$93K	$272K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.053	−0.052%	$69.4M	$41.9M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.080	−0.023%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.082	−0.021%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.850	−0.273%	$1.0M	$5.5M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	92.100	−0.001%	$1.3M	$2.4M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0076%	8h	92.120	+0.021%	$21.7M	$60.3M	50x	as long as short
Binance CRCLUSDTshort	+0.0079%	8h	92.109	+0.009%	$105.1M	$392.5M	50x
Extended CRCL_24_5-USD	+0.0080%	1h	92.076	−0.028%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0082%	8h	92.101	0.000%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0083%	8h	92.165	+0.069%	$756	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	92.127	+0.028%	$129K	$154K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.110	+0.010%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.890	−0.229%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.080	−0.023%	$918	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.089	−0.013%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0168%	1h	92.094	−0.008%	$131K	$103K	3x	as long as short
Lighter CRCL	+0.0208%	1h	92.117	+0.017%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	91.730	−0.403%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.370	+0.292%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0565%	4h	91.735	−0.397%	$23K	$267K	10x	as long as short