Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0068%/8hnext payment −$0.09 per $10,000 · paid last 24h −0.014%

Price spread now: Lighter RH against Pacifica+0.031%7-day average — · you sell dearer than you buy

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

Long on Pacifica Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.097%−$10 on $10k

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

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

The price spread pays, funding is against you. Lighter RH is 0.031% dearer against Pacifica than usual: you sell high and buy low (spread +0.031% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica CRCL	94.850	0.0100	pay 0.0013% / 1h	22m 44s	$78K	$97K	10x
Short	Lighter RH CRCL	94.879	0.0032	get 0.0004% / 1h	22m 44s	$816K	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.031%Rate

Funding earned: −$14.28
Price spread: +0.031% → 0.000%: $3.06
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$19.22
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Pacifica: no order-book sample; Lighter RH: live order book, 5 min ago. 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 Pacifica no order-book sample	—	—	—	—	—
Sell Lighter RH live order book, 5 min ago	1.27 bp	1.3 bp −$1	4.5 bp −$45	doesn't fit	doesn't fit

Pacifica: 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
Gate CRCL_USDT	0.0000%	8h	94.870	+0.021%	$7.2M	$26.8M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.840	−0.011%	$1.0M	$48K	10x	as long as short
Lighter RH CRCLshort	+0.0032%	1h	94.879	+0.031%	$816K	$2.8M	10x
Vest CRCL-USD-PERP	+0.0046%	1h	94.750	−0.105%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.788	−0.065%	$357K	$1.0M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.880	+0.032%	$48K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.700	−0.158%	$1.1M	$5.8M	10x	as long as short
QFEX CRCL-USD	+0.0071%	1h	94.810	−0.042%	$1.4M	$2.7M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0074%	1h	94.842	−0.008%	$71.2M	$41.2M	10x	as long as short
Bybit CRCLUSDT	+0.0086%	8h	94.880	+0.032%	$15.5M	$25.5M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex CRCL-USD-PERP	+0.0097%	8h	94.879	+0.030%	$721	$428	5x	as long as short
Pacifica CRCLlong	+0.0100%	1h	94.850	long leg	$78K	$97K	10x
ApeX Omni CRCLUSDT	+0.0100%	1h	94.800	−0.053%	$70K	$5K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.850	0.000%	$946	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.895	+0.047%	$4	—	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0113%	8h	94.887	+0.039%	$48K	$1.2M	10x	as long as short
Variational Omni CRCL	+0.0123%	8h	94.715	−0.143%	$2.5M	$3.2M	—	as long as short
KuCoin CRCLUSDTM	+0.0136%	8h	94.870	+0.021%	$2.9M	$1.7M	20x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0144%	1h	94.790	−0.063%	$947K	$730K	10x	as long as short
Aster CRCLUSDT	+0.0162%	8h	94.860	+0.011%	$1.1M	$4.7M	20x	as long as short
Phoenix CRCL	+0.0162%	1h	94.827	−0.024%	$28K	$92K	10x	as long as short
Extended CRCL_24_5-USD	+0.0168%	1h	94.891	+0.043%	$1.2M	$3.5M	10x	as long as short
Binance CRCLUSDT	+0.0169%	8h	94.870	+0.021%	$109.0M	$376.7M	50x	as long as short
RISEx CRCL/USDC	+0.0224%	1h	94.830	−0.021%	$421K	$312K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0277%	1h	94.860	+0.011%	$4K	$802K	10x	as long as short
BloFin CRCL-USDT	+0.0290%	8h	94.860	+0.011%	$1.1M	$576K	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0292%	8h	94.880	+0.032%	$23.0M	$59.5M	50x	as long as short
Lighter CRCL	+0.0304%	1h	94.903	+0.056%	$3.0M	$2.1M	10x	as long as short
Nado CRCL-PERP	+0.0319%	1h	94.761	−0.093%	$132K	$67K	3x	as long as short
Aftermath Perps CRCLUSD	+0.0358%	1h	94.645	−0.217%	$2K	$16K	5x	as long as short
Bitget CRCLUSDT	+0.0413%	8h	94.870	+0.021%	$17.0M	$34.3M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.200	+0.369%	$5K	$20K	30x	as long as short
Arcus CRCL-USD	+0.0748%	1h	94.860	+0.011%	$102K	$257K	10x	as long as short
edgeX CRCLUSDC	+0.0859%	4h	94.832	−0.019%	$24K	$265K	10x	as long as short