Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0280%/8h= −30.7% APRpaid last 24h −0.069%

Price spread now: Pacifica against BloFin+0.851%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs+$19as in the Price arb table

costs, in and out, $10k−$670.672% of the position

Long on BloFin Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.330%−$33 on $10k

Price spread, last 4 days (all we have)−0.811%−$81 · spread now +0.851%, 7d avg −0.013%

Together, before fees−1.141%+ Points / potential airdropPacifica: Active · farm board−$114 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.863% dearer against BloFin than usual: you sell high and buy low (spread +0.851% now, against its 7-day average of −0.013%): +$86 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin CRCL-USDT	92.770	0.0380	pay 0.0380% / 8h	5h 03m	$1.1M	$1.7M	20x
Short	Pacifica CRCL	93.559	0.0100	get 0.0013% / 1h	3m 47s	$140K	$139K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against BloFin. 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 BloFinbpFee PacificabpOrdersPrice spread, now +0.851%Rate

Funding earned: −$58.81
Price spread: +0.851% → −0.013%: $86.34
Slippage, 4 orders: −$47.2
Fee BloFin: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$39.67
Costs to cover: 0.672%
Break-even: from the start

Slippage from BloFin: live order book, 2 min ago; Pacifica: live order book, 42 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 BloFin live order book, 2 min ago	2.70 bp	10.2 bp −$10	15.4 bp −$154	33.4 bp −$3,340	doesn't fit
Sell Pacifica live order book, 42 min ago	8.07 bp	25.7 bp −$26	doesn't fit	doesn't fit	doesn't fit

CRCL on 34 exchanges

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
Coinbase International CRCL-PERP-INTX	−0.0048%	1h	93.800	+1.110%	$856K	$776K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	94.570	+1.940%	$15.3M	$26.4M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	94.510	+1.876%	$18.7M	$35.4M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.320	+1.671%	$1.0M	$47K	10x	as long as short
Vest CRCL-USD-PERP	+0.0017%	1h	93.760	+1.067%	—	$30K	25x	as long as short
Aftermath Perps CRCLUSD	+0.0031%	1h	92.708	−0.067%	$2K	$29K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.550	+1.919%	$1.0M	$2.6M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	94.452	+1.813%	$68.5M	$41.6M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.125	+1.461%	$317K	$1.0M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	93.159	+0.419%	$47K	$3K	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	93.810	+1.121%	$1.0M	$3.8M	10x	as long as short
QFEX CRCL-USD	+0.0055%	1h	93.540	+0.830%	$1.4M	$1.6M	10x	as long as short
Injective CRCL/USDC PERP	+0.0072%	1h	92.090	−0.733%	$38K	$172K	30x	as long as short
Gate CRCL_USDT	+0.0072%	8h	94.540	+1.908%	$7.6M	$25.9M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0076%	8h	93.568	+0.860%	$430	$477	5x	as long as short
Pacifica CRCLshort	+0.0100%	1h	93.559	+0.851%	$140K	$139K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	94.590	+1.962%	$2.7M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.610	−0.172%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.230	+1.574%	$882	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	93.991	+1.316%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0194%	8h	92.750	−0.021%	$2.5M	$3.2M	—	as long as short
Phoenix CRCL	+0.0197%	1h	92.750	−0.022%	$27K	$66K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	93.880	+1.197%	$94K	$202K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0215%	8h	94.540	+1.908%	$22.9M	$60.9M	50x	as long as short
Extended CRCL_24_5-USD	+0.0256%	1h	94.549	+1.918%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0258%	8h	94.530	+1.897%	$108.8M	$361.7M	50x	as long as short
Lighter CRCL	+0.0272%	1h	94.577	+1.948%	$3.0M	$2.2M	10x	as long as short
Nado CRCL-PERP	+0.0272%	1h	94.171	+1.510%	$156K	$101K	3x	as long as short
Aster CRCLUSDT	+0.0272%	8h	94.580	+1.951%	$1.1M	$4.6M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0312%	8h	92.645	−0.135%	$59K	$987K	10x	as long as short
BloFin CRCL-USDTlong	+0.0380%	8h	92.770	long leg	$1.1M	$1.7M	20x
RISEx CRCL/USDC	+0.0528%	1h	94.243	+1.588%	$419K	$228K	10x	as long as short
edgeX CRCLUSDC	+0.0574%	4h	92.667	−0.111%	$53K	$269K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.6658%	1h	94.740	+2.124%	$5K	$415K	10x	as long as short