Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h +0.039%

Price spread now: Gate against Lighter RH+0.059%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on Lighter RH Short on Gate

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−0.049%−$5 · spread now +0.059%, 7d avg +0.033%

Together, before fees+0.112%+ Points / potential airdropLighter RH: Points live · farm board+$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.026% dearer against Lighter RH than usual: you sell high and buy low (spread +0.059% now, against its 7-day average of +0.033%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.7 days. Mind the row above: over the last 7 days funding on this pair paid +0.161%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH CRCL	91.836	0.0032	pay 0.0004% / 1h	41m 39s	$973K	$2.9M	10x
Short	Gate CRCL_USDT	91.890	0	get 0.0000% / 8h	3h 41m	$7.3M	$27.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.059%Rate

Funding earned: −$6.72
Price spread: +0.059% → +0.033%: $2.56
Slippage, 4 orders: −$17.19
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$36.34
Costs to cover: 0.322%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 1 min ago; Gate: live order book, 2 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, 1 min ago	2.50 bp	2.6 bp −$3	10.2 bp −$102	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.17 bp	15.1 bp −$15	33.3 bp −$333	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
Bitget CRCLUSDT	−0.0703%	8h	91.850	+0.015%	$16.7M	$35.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.600	−0.257%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.820	−0.017%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDTshort	0.0000%	8h	91.890	+0.059%	$7.3M	$27.3M	50x
Variational Omni CRCL	0.0000%	8h	91.979	+0.156%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.810	−0.028%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0007%	8h	91.814	−0.024%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0012%	8h	91.803	−0.036%	$104.6M	$391.2M	50x	as long as short
Extended CRCL_24_5-USD	+0.0016%	1h	91.755	−0.089%	$1.2M	$5.7M	10x	as long as short
Lighter RH CRCLlong	+0.0032%	1h	91.836	long leg	$973K	$2.9M	10x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0039%	1h	91.896	+0.065%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.860	+0.026%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.890	+0.059%	$907K	$510K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.748	−0.096%	$68.1M	$41.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.778	−0.063%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.790	−0.050%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.680	−0.170%	$1.0M	$5.1M	10x	as long as short
BloFin CRCL-USDT	+0.0059%	8h	92.050	+0.233%	$1.1M	$1.6M	20x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.810	−0.028%	$1.3M	$1.9M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0072%	8h	91.949	+0.123%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0074%	8h	91.840	+0.004%	$22.3M	$61.5M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.817	−0.021%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.780	−0.061%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.900	+0.070%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.760	−0.083%	$915	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.785	−0.055%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.821	−0.016%	$417K	$299K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0127%	8h	91.784	−0.057%	$422	$905	5x	as long as short
Phoenix CRCL	+0.0182%	1h	91.939	+0.112%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0272%	1h	91.827	−0.010%	$3.0M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0295%	1h	91.790	−0.050%	$4K	$768K	10x	as long as short
Nado CRCL-PERP	+0.0370%	1h	91.735	−0.109%	$134K	$106K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.571%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0501%	4h	91.963	+0.139%	$51K	$275K	10x	as long as short