Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h +0.117%

Price spread now: edgeX against Binance+0.123%100s7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs+$33as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$360.362% of the position

Long on Binance Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.688%+$69 on $10k

Price spread, last 4 days (all we have)−0.060%−$6 · spread now +0.123%, 7d avg +0.008%

Together, before fees+0.628%+ Points / potential airdropedgeX: Active · farm board+$63 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.115% dearer against Binance than usual: you sell high and buy low (spread +0.123% now, against its 7-day average of +0.008%): +$11 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 17 days. Mind the row above: over the last 7 days funding on this pair paid +0.688%, so the current rate has only just turned against you. The two prices were read 100 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	Binance CRCLUSDT	91.360	0.0079	pay 0.0079% / 8h	1h 51m	$104.5M	$397.4M	50x
Short	edgeX CRCLUSDC	91.472	0.0056	get 0.0028% / 4h	1h 51m	$52K	$277K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Binance. 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 BinancebpFee edgeXbpOrdersPrice spread, now +0.123%Rate

Funding earned: −$4.86
Price spread: +0.123% → +0.008%: $11.49
Slippage, 4 orders: −$17.18
Fee Binance: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$29.55
Costs to cover: 0.362%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; edgeX: live order book, 56 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 Binance live order book, 7 min ago	0.55 bp	6.3 bp −$6	10.5 bp −$105	32.7 bp −$3,272	doesn't fit
Sell edgeX live order book, 56 min ago	6.01 bp	11.6 bp −$12	23.6 bp −$236	doesn't fit	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	−0.0737%	8h	91.430	+0.077%	$17.4M	$37.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0083%	1h	91.110	−0.274%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.380	+0.022%	$14.7M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.410	+0.055%	$7.8M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.489	+0.141%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.430	+0.077%	$1.0M	$48K	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.460	+0.109%	$93K	$289K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	91.391	+0.033%	$2K	$27K	5x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.338	−0.024%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.340	−0.022%	$1.1M	$5.2M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International CRCL-PERP-INTX	+0.0056%	1h	91.470	+0.120%	$891K	$605K	10x	as long as short
edgeX CRCLUSDCshort	+0.0056%	4h	91.472	+0.123%	$52K	$277K	10x
Aster CRCLUSDT	+0.0065%	8h	91.409	+0.053%	$1.0M	$5.1M	20x	as long as short
QFEX CRCL-USD	+0.0068%	1h	91.400	+0.044%	$1.3M	$1.8M	10x	as long as short
Binance CRCLUSDTlong	+0.0079%	8h	91.360	long leg	$104.5M	$397.4M	50x
Extended CRCL_24_5-USD	+0.0080%	1h	91.350	−0.011%	$1.0M	$5.7M	10x	as long as short
Lighter RH CRCL	+0.0096%	1h	91.388	+0.031%	$976K	$2.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.400	+0.044%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.400	+0.044%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.410	+0.055%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.350	−0.011%	$911	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.349	−0.012%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0168%	8h	91.401	+0.045%	$420	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0169%	8h	91.480	+0.131%	$65K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0176%	8h	91.390	+0.033%	$22.2M	$62.6M	50x	as long as short
tradeXYZ xyz:CRCL	+0.0190%	1h	91.292	−0.074%	$67.6M	$44.3M	10x	as long as short
BloFin CRCL-USDT	+0.0197%	8h	91.390	+0.033%	$1.1M	$1.6M	20x	as long as short
Polymarket Perps CRCL-USD	+0.0200%	1h	91.350	−0.011%	$383K	$1.3M	10x	as long as short
Phoenix CRCL	+0.0245%	1h	91.554	+0.212%	$27K	$82K	10x	as long as short
RISEx CRCL/USDC	+0.0271%	1h	91.395	+0.038%	$416K	$271K	10x	as long as short
Lighter CRCL	+0.0376%	1h	91.392	+0.035%	$2.9M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.930	+0.624%	$5K	$19K	30x	as long as short
Nado CRCL-PERP	+0.0459%	1h	91.285	−0.082%	$134K	$109K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0517%	1h	91.340	−0.022%	$5K	$769K	10x	as long as short