Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0262%/8h= +28.7% APRpaid last 24h +0.137%

Price spread now: edgeX against Bybit−0.012%81s7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs+$24as 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−$440.440% of the position

Long on Bybit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.679%+$68 on $10k

Price spread, last 4 days (all we have)+0.481%+$48 · spread now −0.012%, 7d avg −0.021%

Together, before fees+1.160%+ Points / potential airdropedgeX: Active · farm board+$116 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.021%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate. The two prices were read 81 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	Bybit CRCLUSDT	91.200	0	get 0.0000% / 8h	7h 36m	$14.9M	$26.5M	50x
Short	edgeX CRCLUSDC	91.189	0.0262	get 0.0131% / 4h	3h 36m	$52K	$269K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Bybit. 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 BybitbpFee edgeXbpOrdersPrice spread, now −0.012%Rate

Funding earned: $54.99
Price spread: −0.012% → −0.021%: $0.9
Slippage, 4 orders: −$23.98
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $11.91
Costs to cover: 0.440%
Break-even: 5.5 days

Slippage from Bybit: live order book, 2 min ago; edgeX: live order book, 61 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 Bybit live order book, 2 min ago	1.10 bp	10.9 bp −$11	17.0 bp −$170	doesn't fit	doesn't fit
Sell edgeX live order book, 61 min ago	6.01 bp	11.5 bp −$11	24.1 bp −$241	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
Vest CRCL-USD-PERP	−0.0095%	1h	90.900	−0.329%	—	$31K	25x	as long as short
Bitget CRCLUSDT	−0.0095%	8h	91.210	+0.011%	$17.3M	$36.2M	25x	as long as short
Bybit CRCLUSDTlong	0.0000%	8h	91.200	long leg	$14.9M	$26.5M	50x
Phemex CRCLUSDT	0.0000%	4h	91.220	+0.022%	$1.0M	$47K	10x	as long as short
Gate CRCL_USDT	+0.0002%	8h	91.230	+0.033%	$7.8M	$26.4M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.182	−0.020%	$981K	$2.4M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	91.190	−0.011%	$872K	$505K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.139	−0.067%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.100	−0.110%	$95K	$285K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.090	−0.121%	$67.1M	$44.3M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps CRCL-USD	+0.0050%	1h	91.068	−0.145%	$376K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.170	−0.033%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.030	−0.186%	$1.1M	$4.7M	10x	as long as short
QFEX CRCL-USD	+0.0065%	1h	91.160	−0.044%	$1.3M	$1.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.139	−0.067%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.220	+0.022%	$2.6M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.160	−0.044%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.160	−0.044%	$909	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.200	0.000%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0135%	8h	91.133	−0.073%	$419	$766	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0152%	8h	91.220	+0.022%	$62K	$1.1M	10x	as long as short
Variational Omni CRCL	+0.0155%	8h	91.190	−0.011%	$2.4M	$3.3M	—	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0189%	1h	91.160	−0.044%	$5K	$769K	10x	as long as short
Aster CRCLUSDT	+0.0215%	8h	91.183	−0.019%	$1.0M	$5.0M	20x	as long as short
Lighter CRCL	+0.0224%	1h	91.180	−0.022%	$2.9M	$2.1M	10x	as long as short
Binance CRCLUSDT	+0.0231%	8h	91.159	−0.045%	$104.8M	$387.3M	50x	as long as short
Extended CRCL_24_5-USD	+0.0232%	1h	91.142	−0.063%	$1.1M	$5.1M	10x	as long as short
Phoenix CRCL	+0.0254%	1h	91.200	0.000%	$27K	$66K	10x	as long as short
edgeX CRCLUSDCshort	+0.0262%	4h	91.189	−0.012%	$52K	$269K	10x
OKX CRCL-USDT-SWAP	+0.0294%	8h	91.210	+0.011%	$22.3M	$61.4M	50x	as long as short
BloFin CRCL-USDT	+0.0351%	8h	91.200	0.000%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0374%	1h	91.094	−0.116%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.170	+1.064%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0501%	1h	91.160	−0.044%	$412K	$258K	10x	as long as short