Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0602%/8h= +65.9% APRpaid last 24h +0.125%

Price spread now: edgeX against Extended+0.031%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs+$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on Extended Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.641%+$64 on $10k

Price spread, last 4 days (all we have)+0.591%+$59 · spread now +0.031%, 7d avg +0.032%

Together, before fees+1.232%+ Points / potential airdropExtended: Active · edgeX: Active · farm board+$123 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.032%, so right now this pair is about funding alone: +$18 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended CRCL_24_5-USD	91.179	0.0208	pay 0.0026% / 1h	8m 55s	$1.0M	$5.0M	10x
Short	edgeX CRCLUSDC	91.207	0.0810	get 0.0405% / 4h	8m 55s	$52K	$269K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Extended. 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 ExtendedbpFee edgeXbpOrdersPrice spread, now +0.031%Rate

Funding earned: $126.41
Price spread: +0.031% → +0.032%: −$0.12
Slippage, 4 orders: −$18.18
Fee Extended: 2.5 bp × 2 orders: −$5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $94.11
Costs to cover: 0.322%
Break-even: 1.8 days

Slippage from Extended: live order book, 5 min ago; edgeX: live order book, 29 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 Extended live order book, 5 min ago	0.05 bp	4.7 bp −$5	22.3 bp −$223	doesn't fit	doesn't fit
Sell edgeX live order book, 29 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
Bitget CRCLUSDT	−0.0354%	8h	91.260	+0.089%	$17.3M	$36.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0081%	1h	90.930	−0.273%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.240	+0.067%	$7.8M	$28.0M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.230	+0.056%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.225	+0.050%	$982K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.179	−0.001%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.200	+0.023%	$95K	$296K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.180	+0.001%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.150	−0.032%	$1.1M	$4.8M	10x	as long as short
Bybit CRCLUSDT	+0.0060%	8h	91.230	+0.056%	$14.8M	$26.5M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.220	+0.045%	$1.3M	$1.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.070	−0.120%	$871K	$500K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0090%	1h	91.134	−0.049%	$67.2M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.190	+0.012%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.210	+0.034%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.120	−0.065%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.210	+0.034%	$909	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.225	+0.050%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0128%	8h	91.194	+0.016%	$2.4M	$3.3M	—	as long as short
Polymarket Perps CRCL-USD	+0.0154%	1h	91.201	+0.024%	$377K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0158%	8h	91.193	+0.015%	$419	$905	5x	as long as short
Aster CRCLUSDT	+0.0193%	8h	91.230	+0.055%	$1.0M	$5.0M	20x	as long as short
Extended CRCL_24_5-USDlong	+0.0208%	1h	91.179	long leg	$1.0M	$5.0M	10x
Binance CRCLUSDT	+0.0209%	8h	91.200	+0.023%	$104.7M	$389.3M	50x	as long as short
Phoenix CRCL	+0.0227%	1h	91.187	+0.009%	$27K	$74K	10x	as long as short
Lighter CRCL	+0.0248%	1h	91.222	+0.047%	$2.9M	$2.4M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0250%	8h	91.217	+0.041%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0284%	8h	91.220	+0.045%	$22.3M	$61.6M	50x	as long as short
BloFin CRCL-USDT	+0.0329%	8h	91.200	+0.023%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0435%	1h	91.122	−0.062%	$133K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.740	+0.615%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.227	+0.053%	$412K	$269K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0628%	1h	91.190	+0.012%	$5K	$769K	10x	as long as short
edgeX CRCLUSDCshort	+0.0810%	4h	91.207	+0.031%	$52K	$269K	10x