Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0268%/8h= +29.4% APRpaid last 24h +0.139%

Price spread now: edgeX against Pacifica+0.024%52s7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs+$1as 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−$730.730% of the position

Long on Pacifica Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.736%+$74 on $10k

Price spread, last 4 days (all we have)+0.553%+$55 · spread now +0.024%, 7d avg +0.022%

Together, before fees+1.289%+ Points / potential airdropPacifica: Active · edgeX: Active · farm board+$129 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.022%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate. The two prices were read 52 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	Pacifica CRCL	91.473	0.0100	pay 0.0013% / 1h	50m 12s	$134K	$159K	10x
Short	edgeX CRCLUSDC	91.496	0.0368	get 0.0184% / 4h	50m 12s	$52K	$277K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Pacifica. 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 PacificabpFee edgeXbpOrdersPrice spread, now +0.024%Rate

Funding earned: $56.36
Price spread: +0.024% → +0.022%: $0.29
Slippage, 4 orders: −$56.01
Fee Pacifica: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$16.36
Costs to cover: 0.730%
Break-even: 9.0 days

Slippage from Pacifica: live order book, 34 min ago; edgeX: live order book, 53 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 Pacifica live order book, 34 min ago	9.82 bp	23.4 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 53 min ago	6.02 bp	11.6 bp −$12	23.8 bp −$238	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	−0.0342%	8h	91.590	+0.127%	$17.6M	$37.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0080%	1h	91.210	−0.288%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.590	+0.127%	$7.8M	$27.3M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.530	+0.062%	$1.0M	$48K	10x	as long as short
Bybit CRCLUSDT	+0.0017%	8h	91.570	+0.106%	$14.8M	$26.6M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.580	+0.116%	$979K	$2.6M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.500	+0.029%	$97K	$293K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	91.464	−0.011%	$2K	$28K	5x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.516	+0.047%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.370	−0.113%	$1.1M	$5.0M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.470	−0.004%	$1.3M	$1.8M	10x	as long as short
Variational Omni CRCL	+0.0072%	8h	91.477	+0.004%	$2.4M	$3.3M	—	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.400	−0.080%	$890K	$415K	10x	as long as short
Pacifica CRCLlong	+0.0100%	1h	91.473	long leg	$134K	$159K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	91.570	+0.106%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.420	−0.058%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.510	+0.040%	$912	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.532	+0.064%	$4	—	10x	as long as short
tradeXYZ xyz:CRCL	+0.0150%	1h	91.500	+0.029%	$67.7M	$43.8M	10x	as long as short
Aster CRCLUSDT	+0.0150%	8h	91.649	+0.192%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0165%	8h	91.580	+0.116%	$105.2M	$394.9M	50x	as long as short
Extended CRCL_24_5-USD	+0.0168%	1h	91.494	+0.023%	$1.0M	$5.0M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0179%	8h	91.476	+0.003%	$421	$905	5x	as long as short
Polymarket Perps CRCL-USD	+0.0206%	1h	91.500	+0.029%	$379K	$1.3M	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.459	−0.016%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0231%	8h	91.548	+0.081%	$69K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0250%	8h	91.580	+0.116%	$22.3M	$62.1M	50x	as long as short
Lighter CRCL	+0.0272%	1h	91.585	+0.122%	$2.9M	$2.3M	10x	as long as short
BloFin CRCL-USDT	+0.0284%	8h	91.520	+0.051%	$1.1M	$1.7M	20x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0297%	1h	91.510	+0.040%	$5K	$769K	10x	as long as short
edgeX CRCLUSDCshort	+0.0368%	4h	91.496	+0.024%	$52K	$277K	10x
Nado CRCL-PERP	+0.0419%	1h	91.424	−0.054%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.990	+0.565%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.510	+0.040%	$410K	$270K	10x	as long as short