Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0017%/8h= +1.8% APRpaid last 24h +0.029%

Price spread now: OKX against Pacifica+0.010%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$600.601% of the position

Long on Pacifica Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now +0.010%, 7d avg +0.027%

Together, before fees+0.088%+ Points / potential airdropPacifica: Active · farm board+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.027%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica CRCL	91.561	0.0100	pay 0.0013% / 1h	45m 21s	$134K	$162K	10x
Short	OKX CRCL-USDT-SWAP	91.570	0.0117	get 0.0117% / 8h	2h 45m	$22.2M	$61.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.010%Rate

Funding earned: $3.5
Price spread: +0.010% → +0.027%: −$1.68
Slippage, 4 orders: −$42.06
Fee Pacifica: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$58.24
Costs to cover: 0.601%
Break-even: 123.5 days

Slippage from Pacifica: live order book, 48 min ago; OKX: live order book, 3 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, 48 min ago	6.53 bp	17.8 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.55 bp	7.3 bp −$7	12.9 bp −$129	132.7 bp −$13.3K	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	−0.0760%	8h	91.610	+0.054%	$16.7M	$36.1M	25x	as long as short
Vest CRCL-USD-PERP	−0.0068%	1h	91.280	−0.307%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.540	−0.023%	$14.7M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.580	+0.021%	$7.4M	$27.1M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.509	−0.057%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.510	−0.056%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0022%	8h	91.550	−0.012%	$1.0M	$5.1M	20x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.563	+0.002%	$974K	$2.9M	10x	as long as short
Extended CRCL_24_5-USD	+0.0032%	1h	91.554	−0.008%	$1.1M	$5.6M	10x	as long as short
Binance CRCLUSDT	+0.0033%	8h	91.545	−0.017%	$104.3M	$393.6M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CRCLUSDC	+0.0039%	4h	91.574	+0.014%	$52K	$278K	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.560	−0.001%	$93K	$291K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0042%	1h	91.532	−0.031%	$2K	$26K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.541	−0.022%	$383K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.491	−0.076%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.540	−0.023%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	91.550	−0.012%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	91.400	−0.176%	$911K	$521K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0079%	1h	91.509	−0.057%	$68.2M	$42.9M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0094%	8h	91.515	−0.050%	$421	$905	5x	as long as short
Pacifica CRCLlong	+0.0100%	1h	91.561	long leg	$134K	$162K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	91.560	−0.001%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.550	−0.012%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.530	−0.034%	$913	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.508	−0.058%	$4	—	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0110%	8h	91.580	+0.021%	$62K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAPshort	+0.0117%	8h	91.570	+0.010%	$22.2M	$61.9M	50x
RISEx CRCL/USDC	+0.0117%	1h	91.578	+0.019%	$417K	$295K	10x	as long as short
BloFin CRCL-USDT	+0.0139%	8h	91.630	+0.075%	$1.1M	$1.6M	20x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0187%	1h	91.520	−0.045%	$4K	$768K	10x	as long as short
Phoenix CRCL	+0.0210%	1h	91.603	+0.046%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0280%	1h	91.561	0.000%	$2.9M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0337%	1h	91.474	−0.095%	$133K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.050	+0.534%	$5K	$19K	30x	as long as short