Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0504%/8h= +55.2% APRpaid last 24h +0.126%

Price spread now: edgeX against SoDEX−0.111%75s7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Funding pays, the price is against you. edgeX is 0.111% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.111% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 18 hours of funding at the current rate (+$15 a day). The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX CRCL-USD	91.698	0.0050	pay 0.0006% / 1h	24m 01s	$46K	$3K	10x
Short	edgeX CRCLUSDC	91.597	0.0554	get 0.0277% / 4h	1h 24m	$23K	$248K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against SoDEX. 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 SoDEXbpFee edgeXbpOrdersPrice spread, now −0.111%Rate

Funding earned: $105.79
Price spread: −0.111% → 0.000%: −$11.06
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $77.73
Costs to cover: 0.170%
Break-even: 1.9 days

Slippage unknown: SoDEX: no order-book sample; edgeX: live order book, 39 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 SoDEX no order-book sample	—	—	—	—	—
Sell edgeX live order book, 39 min ago	5.98 bp	11.4 bp −$11	23.5 bp −$235	doesn't fit	doesn't fit

SoDEX: 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	−0.1304%	8h	91.800	+0.111%	$15.8M	$34.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0077%	1h	91.480	−0.238%	—	$31K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.470	−0.249%	$903K	$518K	10x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.738	+0.044%	$1.1M	$4.9M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.724	+0.028%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.759	+0.066%	$104.6M	$385.0M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.800	+0.111%	$15.1M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.690	−0.009%	$419K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.800	+0.111%	$7.1M	$26.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.576	−0.133%	$2.4M	$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	91.605	−0.101%	$65K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.730	+0.035%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0008%	8h	91.780	+0.089%	$21.6M	$59.4M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0019%	1h	91.624	−0.080%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.680	−0.020%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.774	+0.083%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.600	−0.107%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.728	+0.033%	$68.5M	$41.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.691	−0.008%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USDlong	+0.0050%	1h	91.698	long leg	$46K	$3K	10x
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.550	−0.161%	$974K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0069%	8h	91.695	−0.004%	$752	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.650	−0.052%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.690	−0.009%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.560	−0.150%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.700	+0.002%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.738	+0.043%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.670	−0.031%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0183%	1h	91.546	−0.166%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0192%	1h	91.633	−0.070%	$131K	$104K	3x	as long as short
Lighter CRCL	+0.0224%	1h	91.781	+0.091%	$3.0M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.130	+0.471%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0514%	1h	91.750	+0.057%	$4K	$767K	10x	as long as short
edgeX CRCLUSDCshort	+0.0554%	4h	91.597	−0.111%	$23K	$248K	10x