Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0480%/8h= +52.6% APRpaid last 24h +0.132%

Price spread now: edgeX against Paradex−0.233%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 edgeX

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 · edgeX: Active · farm boardneeds both histories

Funding pays, the price is against you. edgeX is 0.233% cheaper against Paradex than usual: you would sell low and buy high (spread −0.233% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$23 on $10k: about 39 hours of funding at the current rate (+$14 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CRCL-USD-PERP	91.949	0.0084	pay 0.0084% / 8h	6h 37m	$754	$740	5x
Short	edgeX CRCLUSDC	91.735	0.0565	get 0.0282% / 4h	2h 37m	$23K	$267K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.233%Rate

Funding earned: $100.87
Price spread: −0.233% → 0.000%: −$23.25
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $64.62
Costs to cover: 0.130%
Break-even: 2.5 days

Slippage unknown: Paradex: no order-book sample; edgeX: live order book, 30 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 edgeX live order book, 30 min ago	6.38 bp	12.0 bp −$12	24.0 bp −$240	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	−0.0319%	8h	91.980	+0.034%	$16.0M	$35.4M	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.650	−0.325%	$912K	$584K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.870	−0.086%	$15.1M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.947	−0.002%	$420K	$300K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.010	+0.067%	$7.2M	$26.4M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.790	−0.173%	$61K	$1.1M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	0.0000%	1h	91.780	−0.184%	$4K	$769K	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.810	−0.151%	$1.0M	$49K	10x	as long as short
Variational Omni CRCL	+0.0004%	8h	91.891	−0.063%	$2.5M	$3.2M	—	as long as short
Vest CRCL-USD-PERP	+0.0005%	1h	91.710	−0.260%	—	$37K	25x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0026%	1h	91.985	+0.040%	$2K	$22K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.984	+0.038%	$978K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.870	−0.086%	$93K	$272K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.865	−0.091%	$69.2M	$41.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.919	−0.032%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.760	−0.205%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.760	−0.205%	$1.0M	$5.5M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.930	−0.020%	$1.3M	$2.4M	10x	as long as short
Binance CRCLUSDT	+0.0078%	8h	91.902	−0.051%	$104.9M	$393.2M	50x	as long as short
Extended CRCL_24_5-USD	+0.0080%	1h	91.918	−0.033%	$1.1M	$5.7M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0081%	8h	91.860	−0.096%	$21.7M	$60.1M	50x	as long as short
Aster CRCLUSDT	+0.0082%	8h	91.952	+0.004%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERPlong	+0.0084%	8h	91.949	long leg	$754	$740	5x
Pacifica CRCL	+0.0100%	1h	91.960	+0.012%	$129K	$154K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.010	+0.067%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.780	−0.184%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.850	−0.107%	$916	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.861	−0.095%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0181%	1h	91.942	−0.007%	$131K	$103K	3x	as long as short
Lighter CRCL	+0.0192%	1h	91.970	+0.023%	$3.0M	$2.4M	10x	as long as short
BloFin CRCL-USDT	+0.0222%	8h	92.330	+0.415%	$1.1M	$1.1M	20x	as long as short
Phoenix CRCL	+0.0231%	1h	91.730	−0.238%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.270	+0.349%	$5K	$19K	30x	as long as short
edgeX CRCLUSDCshort	+0.0565%	4h	91.735	−0.233%	$23K	$267K	10x