Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.020%

Price spread now: Orderly against Lighter RH−0.060%7-day average — · you buy dearer than you sell

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

Long on Lighter RH Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropLighter RH: Points live · farm boardneeds both histories

Funding pays, the price is against you. Orderly is 0.060% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.060% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 2.9 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH CRCL	92.125	0.0032	pay 0.0004% / 1h	10m 49s	$976K	$2.9M	10x
Short	Orderly PERP_CRCL_USDC_mythos	92.070	0.0100	get 0.0100% / 8h	4h 10m	$918	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.060%Rate

Funding earned: $14.28
Price spread: −0.060% → 0.000%: −$5.97
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: $2.31
Costs to cover: 0.060%
Break-even: 5.9 days

Slippage unknown: Lighter RH: live order book, 2 min ago; Orderly: 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 Lighter RH live order book, 2 min ago	2.77 bp	2.9 bp −$3	11.0 bp −$110	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
Bitget CRCLUSDT	−0.0925%	8h	92.120	−0.005%	$16.6M	$35.2M	25x	as long as short
Vest CRCL-USD-PERP	−0.0069%	1h	91.860	−0.288%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	92.036	−0.097%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	92.084	−0.044%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	92.107	−0.019%	$104.9M	$390.0M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.110	−0.016%	$14.9M	$26.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.155	+0.033%	$419K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.150	+0.027%	$7.3M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.128	+0.003%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	92.052	−0.079%	$64K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	92.020	−0.114%	$1.0M	$49K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.990	−0.147%	$908K	$491K	10x	as long as short
QFEX CRCL-USD	+0.0028%	1h	92.150	+0.027%	$1.3M	$2.0M	10x	as long as short
Lighter RH CRCLlong	+0.0032%	1h	92.125	long leg	$976K	$2.9M	10x
OKX CRCL-USDT-SWAP	+0.0035%	8h	92.120	−0.005%	$22.3M	$61.4M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0036%	1h	91.997	−0.139%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.010	−0.125%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.992	−0.144%	$68.6M	$41.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.069	−0.061%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.071	−0.059%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.000	−0.136%	$1.0M	$5.2M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.120	−0.005%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.040	−0.092%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.990	−0.147%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythosshort	+0.0100%	8h	92.070	−0.060%	$918	$2K	10x
Aevo CRCL-PERP	+0.0104%	1h	92.066	−0.064%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0111%	8h	92.118	−0.007%	$424	$905	5x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	92.100	−0.027%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	92.044	−0.088%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0216%	1h	92.080	−0.049%	$3.0M	$2.4M	10x	as long as short
edgeX CRCLUSDC	+0.0223%	4h	91.994	−0.142%	$51K	$277K	10x	as long as short
Nado CRCL-PERP	+0.0309%	1h	92.045	−0.086%	$131K	$104K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.560	+0.472%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0728%	1h	92.090	−0.038%	$4K	$767K	10x	as long as short