Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0250%/8h= −27.4% APRpaid last 24h −0.124%

Price spread now: tradeXYZ against edgeX+0.362%7-day average −0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$119as in the Funding arb table

Net, price: spread back to 7d avg − costs−$5as in the Price arb table

costs, in and out, $10k−$450.454% of the position

Long on edgeX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.738%−$74 on $10k

Price spread, last 4 days (all we have)−0.878%−$88 · spread now +0.362%, 7d avg −0.042%

Together, before fees−1.616%+ Points / potential airdropedgeX: Active · tradeXYZ: Active · farm board−$162 on $10k · with fees, hour by hour

The price spread pays, funding is against you. tradeXYZ is 0.404% dearer against edgeX than usual: you sell high and buy low (spread +0.362% now, against its 7-day average of −0.042%): +$40 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 5.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CRCLUSDC	91.627	0.0300	pay 0.0150% / 4h	1h 21m	$23K	$248K	10x
Short	tradeXYZ xyz:CRCL	91.959	0.0050	get 0.0006% / 1h	21m 26s	$68.7M	$41.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.362%Rate

Funding earned: −$52.5
Price spread: +0.362% → −0.042%: $40.38
Slippage, 4 orders: −$18.39
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$57.51
Costs to cover: 0.454%
Break-even: never at this rate

Slippage from edgeX: live order book, 41 min ago; tradeXYZ: live order book, 7 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, 41 min ago	5.98 bp	11.6 bp −$12	23.7 bp −$237	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 7 min ago	1.36 bp	11.3 bp −$11	doesn't fit	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	−0.1279%	8h	92.040	+0.450%	$15.9M	$34.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0077%	1h	91.750	+0.134%	—	$31K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.890	+0.287%	$907K	$500K	10x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	92.000	+0.407%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	92.028	+0.438%	$104.9M	$385.3M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.070	+0.483%	$15.2M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.944	+0.345%	$420K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.090	+0.505%	$7.1M	$26.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.576	−0.056%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.780	+0.167%	$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	91.890	+0.287%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0007%	8h	92.060	+0.472%	$21.6M	$59.6M	50x	as long as short
Aster CRCLUSDT	+0.0007%	8h	91.889	+0.285%	$1.1M	$4.9M	20x	as long as short
Aftermath Perps CRCLUSD	+0.0021%	1h	91.736	+0.119%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.960	+0.363%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.939	+0.340%	$976K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.750	+0.134%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCLshort	+0.0050%	1h	91.959	+0.362%	$68.7M	$41.3M	10x
Polymarket Perps CRCL-USD	+0.0050%	1h	91.981	+0.386%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.941	+0.342%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.910	+0.308%	$982K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0074%	8h	91.932	+0.333%	$754	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.930	+0.330%	$133K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.920	+0.319%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.690	+0.068%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.010	+0.418%	$917	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.994	+0.401%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.760	+0.145%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0183%	1h	91.755	+0.139%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0200%	1h	91.854	+0.247%	$131K	$104K	3x	as long as short
Lighter CRCL	+0.0232%	1h	91.944	+0.346%	$3.0M	$2.4M	10x	as long as short
edgeX CRCLUSDClong	+0.0300%	4h	91.627	long leg	$23K	$248K	10x
Injective CRCL/USDC PERP	+0.0440%	1h	92.390	+0.832%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0947%	1h	92.030	+0.439%	$4K	$767K	10x	as long as short