Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0032%/8hpaid last 24h −0.037%

Price spread now: Lighter RH against Gate+0.023%7-day average −0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$300.304% of the position

Long on Gate Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.161%−$16 on $10k

Price spread, last 7 days−0.001%$0 · spread now +0.023%, 7d avg −0.031%

Together, before fees−0.162%+ Points / potential airdropLighter RH: Points live · farm board−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.055% dearer against Gate than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.031%. Mind the row above: over the last 7 days funding on this pair cost −0.161%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CRCL_USDT	94.860	0	get 0.0000% / 8h	4h 22m	$7.2M	$26.8M	50x
Short	Lighter RH CRCL	94.882	0.0032	get 0.0004% / 1h	22m 58s	$816K	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Gate. 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 GatebpFee Lighter RHbpOrdersPrice spread, now +0.023%Rate

Funding earned: $6.72
Price spread: +0.023% → −0.031%: $5.46
Slippage, 4 orders: −$15.44
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$18.26
Costs to cover: 0.304%
Break-even: 26.0 days

Slippage from Gate: live order book, 10 min ago; Lighter RH: live order book, 5 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 Gate live order book, 10 min ago	1.59 bp	13.2 bp −$13	25.2 bp −$252	85.6 bp −$8,560	doesn't fit
Sell Lighter RH live order book, 5 min ago	1.27 bp	1.3 bp −$1	4.5 bp −$45	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
Gate CRCL_USDTlong	0.0000%	8h	94.860	long leg	$7.2M	$26.8M	50x
Phemex CRCLUSDT	0.0000%	4h	94.840	−0.021%	$1.0M	$48K	10x	as long as short
Lighter RH CRCLshort	+0.0032%	1h	94.882	+0.023%	$816K	$2.8M	10x
Vest CRCL-USD-PERP	+0.0046%	1h	94.750	−0.116%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.788	−0.076%	$357K	$1.0M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.880	+0.021%	$48K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.700	−0.169%	$1.1M	$5.8M	10x	as long as short
QFEX CRCL-USD	+0.0071%	1h	94.810	−0.053%	$1.4M	$2.7M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0075%	1h	94.821	−0.041%	$71.2M	$41.2M	10x	as long as short
Bybit CRCLUSDT	+0.0086%	8h	94.870	+0.011%	$15.5M	$25.5M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex CRCL-USD-PERP	+0.0098%	8h	94.843	−0.018%	$721	$428	5x	as long as short
Pacifica CRCL	+0.0100%	1h	94.800	−0.063%	$78K	$97K	10x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.800	−0.063%	$70K	$5K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.850	−0.011%	$946	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.895	+0.037%	$4	—	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0113%	8h	94.887	+0.028%	$48K	$1.2M	10x	as long as short
Variational Omni CRCL	+0.0123%	8h	94.715	−0.153%	$2.5M	$3.2M	—	as long as short
KuCoin CRCLUSDTM	+0.0138%	8h	94.890	+0.032%	$2.9M	$1.7M	20x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0144%	1h	94.790	−0.074%	$947K	$730K	10x	as long as short
Phoenix CRCL	+0.0162%	1h	94.827	−0.035%	$28K	$92K	10x	as long as short
Aster CRCLUSDT	+0.0164%	8h	94.860	0.000%	$1.1M	$4.7M	20x	as long as short
Extended CRCL_24_5-USD	+0.0168%	1h	94.891	+0.032%	$1.2M	$3.5M	10x	as long as short
Binance CRCLUSDT	+0.0170%	8h	94.880	+0.021%	$109.0M	$376.7M	50x	as long as short
RISEx CRCL/USDC	+0.0224%	1h	94.830	−0.032%	$421K	$312K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0277%	1h	94.860	0.000%	$4K	$802K	10x	as long as short
BloFin CRCL-USDT	+0.0290%	8h	94.860	0.000%	$1.1M	$576K	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0292%	8h	94.930	+0.074%	$23.0M	$59.5M	50x	as long as short
Lighter CRCL	+0.0312%	1h	94.920	+0.063%	$3.0M	$2.1M	10x	as long as short
Nado CRCL-PERP	+0.0319%	1h	94.761	−0.104%	$132K	$67K	3x	as long as short
Aftermath Perps CRCLUSD	+0.0358%	1h	94.645	−0.227%	$2K	$16K	5x	as long as short
Bitget CRCLUSDT	+0.0413%	8h	94.900	+0.042%	$17.0M	$34.3M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.200	+0.358%	$5K	$20K	30x	as long as short
Arcus CRCL-USD	+0.0748%	1h	94.860	0.000%	$102K	$257K	10x	as long as short
edgeX CRCLUSDC	+0.0859%	4h	94.832	−0.029%	$24K	$265K	10x	as long as short