Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0126%/8h= −13.8% APRpaid last 24h −0.048%

Price spread now: Orderly against Nado+0.062%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Nado Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

The price spread pays, funding is against you. Orderly is 0.062% dearer against Nado than usual: you sell high and buy low (spread +0.062% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado CRCL-PERP	94.311	0.0226	pay 0.0028% / 1h	22m 18s	$132K	$76K	3x
Short	Orderly PERP_CRCL_USDC_mythos	94.370	0.0100	get 0.0100% / 8h	7h 22m	$941	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Nado. 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 NadobpFee OrderlybpOrdersPrice spread, now +0.062%Rate

Funding earned: −$26.55
Price spread: +0.062% → 0.000%: $6.23
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$33.32
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Nado: live order book, 50 min ago; Orderly: no order-book sample. Net counts fees only.

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 Nado live order book, 50 min ago	3.17 bp	8.7 bp −$9	27.5 bp −$275	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Coinbase International CRCL-PERP-INTX	−0.0064%	1h	94.210	−0.107%	$942K	$622K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	94.360	+0.052%	$15.5M	$25.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.380	+0.073%	$7.2M	$27.0M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.506	+0.207%	$67K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.390	+0.084%	$1.0M	$49K	10x	as long as short
Bitget CRCLUSDT	+0.0026%	8h	94.390	+0.084%	$17.0M	$34.6M	25x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.366	+0.058%	$888K	$2.8M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	94.348	+0.039%	$2K	$22K	5x	as long as short
QFEX CRCL-USD	+0.0042%	1h	94.390	+0.084%	$1.4M	$2.6M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.270	−0.044%	—	$37K	25x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CRCL	+0.0050%	1h	94.311	0.000%	$71.7M	$42.0M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.340	+0.031%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.357	+0.049%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.380	+0.073%	$1.0M	$5.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.391	+0.085%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.410	+0.105%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.410	+0.105%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythosshort	+0.0100%	8h	94.370	+0.062%	$941	$3K	10x
Paradex CRCL-USD-PERP	+0.0103%	8h	94.401	+0.095%	$774	$740	5x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.375	+0.068%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0117%	8h	94.489	+0.189%	$2.5M	$3.1M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0146%	8h	94.400	+0.094%	$22.8M	$59.4M	50x	as long as short
Extended CRCL_24_5-USD	+0.0184%	1h	94.359	+0.050%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0185%	8h	94.370	+0.062%	$109.4M	$386.0M	50x	as long as short
Aster CRCLUSDT	+0.0190%	8h	94.414	+0.109%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERPlong	+0.0226%	1h	94.311	long leg	$132K	$76K	3x
Deribit CRCL_USDC-PERPETUAL	+0.0280%	1h	94.360	+0.052%	$4K	$769K	10x	as long as short
Lighter CRCL	+0.0288%	1h	94.373	+0.066%	$3.0M	$2.2M	10x	as long as short
edgeX CRCLUSDC	+0.0294%	4h	94.484	+0.183%	$24K	$268K	10x	as long as short
Phoenix CRCL	+0.0296%	1h	94.424	+0.120%	$28K	$92K	10x	as long as short
BloFin CRCL-USDT	+0.0305%	8h	94.460	+0.158%	$1.1M	$561K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.890	+0.614%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.420	+0.115%	$96K	$271K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	94.368	+0.060%	$430K	$299K	10x	as long as short