Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0620%/8h= −67.9% APRpaid last 24h −0.131%

Price spread now: Coinbase International against edgeX−0.028%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$450.448% of the position

Long on edgeX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.625%−$63 on $10k

Price spread, last 4 days (all we have)−0.168%−$17 · spread now −0.028%, 7d avg −0.037%

Together, before fees−0.794%+ Points / potential airdropedgeX: Active · farm board−$79 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.037%, so right now this pair is about funding alone: −$19 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CRCLUSDC	91.626	0.0636	pay 0.0318% / 4h	36m 59s	$51K	$276K	10x
Short	Coinbase International CRCL-PERP-INTX	91.600	0.0016	get 0.0002% / 1h	36m 59s	$904K	$489K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against edgeX. 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 edgeXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$130.18
Price spread: −0.028% → −0.037%: $0.87
Slippage, 4 orders: −$25.8
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$174.11
Costs to cover: 0.448%
Break-even: never at this rate

Slippage from edgeX: live order book, 21 min ago; Coinbase International: live order book, 21 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 edgeX live order book, 21 min ago	6.52 bp	12.0 bp −$12	23.8 bp −$238	doesn't fit	doesn't fit
Sell Coinbase International live order book, 21 min ago	5.44 bp	10.4 bp −$10	16.9 bp −$169	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	−0.0994%	8h	91.770	+0.157%	$16.3M	$35.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.410	−0.235%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.735	+0.119%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.647	+0.023%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.675	+0.054%	$104.5M	$388.5M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.660	+0.037%	$14.9M	$26.3M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.710	+0.092%	$417K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.720	+0.103%	$7.2M	$27.0M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.678	+0.057%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.698	+0.078%	$65K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.710	+0.092%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0015%	8h	91.690	+0.070%	$22.0M	$60.7M	50x	as long as short
Coinbase International CRCL-PERP-INTXshort	+0.0016%	1h	91.600	−0.028%	$904K	$489K	10x
Aftermath Perps CRCLUSD	+0.0028%	1h	91.671	+0.049%	$2K	$24K	5x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.690	+0.070%	$1.3M	$2.0M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.716	+0.098%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.690	+0.070%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.595	−0.034%	$68.3M	$41.6M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.634	+0.009%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.683	+0.062%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.670	+0.048%	$992K	$5.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0088%	8h	91.712	+0.094%	$422	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.690	+0.070%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.670	+0.048%	$2.7M	$2.0M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.510	−0.126%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.680	+0.059%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.679	+0.058%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.710	+0.092%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.525	−0.110%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0176%	1h	91.746	+0.131%	$3.0M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0186%	1h	91.700	+0.081%	$4K	$767K	10x	as long as short
Nado CRCL-PERP	+0.0292%	1h	91.673	+0.051%	$130K	$104K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.090	+0.507%	$5K	$19K	30x	as long as short
edgeX CRCLUSDClong	+0.0636%	4h	91.626	long leg	$51K	$276K	10x