Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0069%/8h= −7.6% APRpaid last 24h −0.011%

Price spread now: Coinbase International against Paradex−0.153%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Coinbase International is 0.153% cheaper against Paradex than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CRCL-USD-PERP	91.210	0.0157	pay 0.0157% / 8h	6m 20s	$420	$905	5x
Short	Coinbase International CRCL-PERP-INTX	91.070	0.0088	get 0.0011% / 1h	6m 20s	$871K	$500K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Paradex. 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 ParadexbpFee Coinbase InternationalbpOrdersPrice spread, now −0.153%Rate

Funding earned: −$14.57
Price spread: −0.153% → 0.000%: −$15.32
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$43.89
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Coinbase International: live order book, 32 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 Paradex no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 32 min ago	2.73 bp	7.7 bp −$8	13.1 bp −$131	doesn't fit	doesn't fit

Paradex: 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	−0.0353%	8h	91.330	+0.132%	$17.3M	$36.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0083%	1h	90.940	−0.296%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.290	+0.088%	$7.8M	$28.0M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.250	+0.044%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.235	+0.028%	$983K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.193	−0.018%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.180	−0.033%	$95K	$296K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.240	+0.033%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.150	−0.066%	$1.1M	$4.8M	10x	as long as short
Bybit CRCLUSDT	+0.0062%	8h	91.280	+0.077%	$14.8M	$26.5M	50x	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	91.260	+0.055%	$1.3M	$1.7M	10x	as long as short
Coinbase International CRCL-PERP-INTXshort	+0.0088%	1h	91.070	−0.153%	$871K	$500K	10x
tradeXYZ xyz:CRCL	+0.0089%	1h	91.182	−0.030%	$67.3M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.239	+0.032%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.260	+0.055%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.120	−0.098%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.240	+0.033%	$910	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.266	+0.062%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0128%	8h	91.194	−0.018%	$2.4M	$3.3M	—	as long as short
Polymarket Perps CRCL-USD	+0.0152%	1h	91.238	+0.031%	$377K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERPlong	+0.0157%	8h	91.210	long leg	$420	$905	5x
Aster CRCLUSDT	+0.0195%	8h	91.276	+0.072%	$1.0M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0208%	1h	91.238	+0.031%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0211%	8h	91.259	+0.054%	$104.8M	$389.2M	50x	as long as short
Phoenix CRCL	+0.0227%	1h	91.187	−0.025%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0250%	8h	91.217	+0.008%	$70K	$1.1M	10x	as long as short
Lighter CRCL	+0.0256%	1h	91.273	+0.069%	$2.9M	$2.4M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0285%	8h	91.270	+0.066%	$22.3M	$61.7M	50x	as long as short
BloFin CRCL-USDT	+0.0331%	8h	91.250	+0.044%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0434%	1h	91.132	−0.086%	$133K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.740	+0.581%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.275	+0.072%	$412K	$268K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0628%	1h	91.240	+0.033%	$5K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0810%	4h	91.207	−0.003%	$52K	$269K	10x	as long as short