Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0426%/8h= −46.6% APRpaid last 24h −0.109%

Price spread now: OKX against edgeX−0.112%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$390.387% of the position

Long on edgeX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.674%−$67 on $10k

Price spread, last 4 days (all we have)−0.109%−$11 · spread now −0.112%, 7d avg +0.007%

Together, before fees−0.783%+ Points / potential airdropedgeX: Active · farm board−$78 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and OKX is 0.119% cheaper against edgeX than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.007%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CRCLUSDC	91.963	0.0501	pay 0.0250% / 4h	3h 41m	$51K	$275K	10x
Short	OKX CRCL-USDT-SWAP	91.860	0.0075	get 0.0075% / 8h	3h 41m	$22.3M	$61.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.112%Rate

Funding earned: −$89.37
Price spread: −0.112% → +0.007%: −$11.92
Slippage, 4 orders: −$19.73
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$140.01
Costs to cover: 0.387%
Break-even: never at this rate

Slippage from edgeX: live order book, 11 min ago; OKX: live order book, 2 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, 11 min ago	5.97 bp	11.5 bp −$11	23.7 bp −$237	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.54 bp	8.5 bp −$9	13.6 bp −$136	160.9 bp −$16.1K	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	−0.0703%	8h	91.860	−0.112%	$16.7M	$35.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.580	−0.417%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.820	−0.156%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.930	−0.036%	$7.3M	$27.3M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.979	+0.017%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.810	−0.167%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0007%	8h	91.802	−0.175%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0012%	8h	91.799	−0.179%	$104.6M	$391.2M	50x	as long as short
Extended CRCL_24_5-USD	+0.0016%	1h	91.755	−0.227%	$1.2M	$5.7M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.836	−0.139%	$973K	$2.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0039%	1h	91.867	−0.105%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.860	−0.112%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.890	−0.080%	$907K	$510K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.742	−0.241%	$68.1M	$41.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.791	−0.188%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.790	−0.189%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.680	−0.308%	$1.0M	$5.1M	10x	as long as short
BloFin CRCL-USDT	+0.0059%	8h	92.050	+0.094%	$1.1M	$1.6M	20x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.810	−0.167%	$1.3M	$1.9M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0072%	8h	91.949	−0.016%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAPshort	+0.0075%	8h	91.860	−0.112%	$22.3M	$61.6M	50x
Pacifica CRCL	+0.0100%	1h	91.817	−0.159%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.760	−0.221%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.920	−0.047%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.760	−0.221%	$915	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.785	−0.194%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.821	−0.155%	$417K	$299K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0127%	8h	91.784	−0.195%	$422	$905	5x	as long as short
Phoenix CRCL	+0.0182%	1h	91.905	−0.064%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0272%	1h	91.827	−0.148%	$3.0M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0295%	1h	91.790	−0.189%	$4K	$768K	10x	as long as short
Nado CRCL-PERP	+0.0362%	1h	91.776	−0.204%	$134K	$106K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.431%	$5K	$19K	30x	as long as short
edgeX CRCLUSDClong	+0.0501%	4h	91.963	long leg	$51K	$275K	10x