Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h −0.001%

Price spread now: tradeXYZ against Paradex−0.073%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 tradeXYZ

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 · tradeXYZ: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and tradeXYZ is 0.073% cheaper against Paradex than usual: you would sell low and buy high (−$7 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	92.203	0.0081	pay 0.0081% / 8h	5h 00m	$756	$740	5x
Short	tradeXYZ xyz:CRCL	92.135	0.0050	get 0.0006% / 1h	0m 13s	$68.7M	$41.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.073%Rate

Funding earned: −$6.5
Price spread: −0.073% → 0.000%: −$7.34
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$35.84
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; tradeXYZ: live order book, 9 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 tradeXYZ live order book, 9 min ago	1.19 bp	10.7 bp −$11	doesn't fit	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	−0.1001%	8h	92.170	−0.035%	$16.2M	$34.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0074%	1h	91.970	−0.252%	—	$31K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	92.080	−0.133%	$908K	$501K	10x	as long as short
Aster CRCLUSDT	0.0000%	8h	92.160	−0.046%	$1.1M	$4.9M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	92.144	−0.064%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	92.135	−0.073%	$105.1M	$386.0M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.160	−0.046%	$15.2M	$25.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.208	+0.005%	$421K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.210	+0.008%	$7.2M	$27.0M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.126	−0.083%	$2.5M	$3.2M	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT CRCL_USDT_Perp	0.0000%	8h	92.034	−0.183%	$68K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.180	−0.025%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0006%	8h	92.140	−0.068%	$21.6M	$59.8M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0023%	1h	92.065	−0.149%	$2K	$24K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	92.180	−0.025%	$1.3M	$2.0M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.198	−0.005%	$978K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.050	−0.166%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCLshort	+0.0050%	1h	92.135	−0.073%	$68.7M	$41.4M	10x
Polymarket Perps CRCL-USD	+0.0050%	1h	92.150	−0.057%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.148	−0.059%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.020	−0.198%	$1.0M	$5.2M	10x	as long as short
Paradex CRCL-USD-PERPlong	+0.0081%	8h	92.203	long leg	$756	$740	5x
Pacifica CRCL	+0.0100%	1h	92.199	−0.004%	$133K	$156K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.150	−0.057%	$2.7M	$2.0M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.000	−0.220%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.140	−0.068%	$919	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.169	−0.036%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	92.180	−0.025%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0183%	1h	92.176	−0.029%	$27K	$84K	10x	as long as short
Lighter CRCL	+0.0208%	1h	92.167	−0.039%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0218%	1h	92.147	−0.060%	$131K	$104K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0293%	1h	92.170	−0.035%	$4K	$767K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.530	+0.355%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0747%	4h	91.992	−0.228%	$23K	$249K	10x	as long as short