Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0024%/8h= +2.7% APRpaid last 24h +0.092%

Price spread now: edgeX against OKX+0.248%61s7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs+$29as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.375% of the position

Long on OKX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.661%+$66 on $10k

Price spread, last 4 days (all we have)+0.346%+$35 · spread now +0.248%, 7d avg −0.005%

Together, before fees+1.007%+ Points / potential airdropedgeX: Active · farm board+$101 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and edgeX is 0.253% dearer against OKX than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of −0.005%. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CRCL-USDT-SWAP	91.150	0.0031	pay 0.0031% / 8h	5h 50m	$21.5M	$58.9M	50x
Short	edgeX CRCLUSDC	91.376	0.0055	get 0.0028% / 4h	1h 50m	$23K	$267K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against OKX. 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 OKXbpFee edgeXbpOrdersPrice spread, now +0.248%Rate

Funding earned: $5.09
Price spread: +0.248% → −0.005%: $25.31
Slippage, 4 orders: −$18.52
Fee OKX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$7.12
Costs to cover: 0.375%
Break-even: 16.8 days

Slippage from OKX: live order book, 3 min ago; edgeX: live order book, 12 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 OKX live order book, 3 min ago	0.55 bp	7.1 bp −$7	11.9 bp −$119	doesn't fit	doesn't fit
Sell edgeX live order book, 12 min ago	5.98 bp	11.4 bp −$11	23.5 bp −$235	doesn't fit	doesn't fit

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	−0.1163%	8h	91.320	+0.187%	$15.6M	$34.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0075%	1h	90.980	−0.187%	—	$38K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.330	+0.197%	$901K	$540K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.170	+0.022%	$14.9M	$25.6M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.198	+0.053%	$416K	$297K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.250	+0.110%	$7.0M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.307	+0.172%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.480	+0.362%	$67K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.440	+0.318%	$1.0M	$49K	10x	as long as short
Binance CRCLUSDT	+0.0016%	8h	91.171	+0.023%	$103.6M	$383.3M	50x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CRCL_24_5-USD	+0.0016%	1h	91.189	+0.043%	$1.1M	$5.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0023%	1h	91.516	+0.402%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.230	+0.088%	$1.3M	$2.2M	10x	as long as short
Aster CRCLUSDT	+0.0025%	8h	91.296	+0.161%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAPlong	+0.0031%	8h	91.150	long leg	$21.5M	$58.9M	50x
Lighter RH CRCL	+0.0032%	1h	91.311	+0.177%	$970K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.440	+0.318%	$93K	$270K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.111	−0.043%	$68.2M	$41.0M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.110	−0.044%	$353K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.410	+0.285%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.160	+0.011%	$973K	$5.1M	10x	as long as short
edgeX CRCLUSDCshort	+0.0055%	4h	91.376	+0.248%	$23K	$267K	10x
Paradex CRCL-USD-PERP	+0.0070%	8h	91.371	+0.242%	$749	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.338	+0.206%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.400	+0.274%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.500	+0.384%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.410	+0.285%	$911	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.372	+0.244%	$4	—	10x	as long as short
Phoenix CRCL	+0.0183%	1h	91.382	+0.255%	$27K	$84K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0188%	1h	91.420	+0.296%	$4K	$767K	10x	as long as short
Nado CRCL-PERP	+0.0205%	1h	91.164	+0.016%	$130K	$103K	3x	as long as short
Lighter CRCL	+0.0280%	1h	91.369	+0.240%	$2.9M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.900	+0.823%	$5K	$19K	30x	as long as short