Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0198%/8h= −21.7% APRpaid last 24h −0.047%

Price spread now: Paradex against Nado+0.075%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 Paradex

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 · Paradex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.075% dearer against Nado than usual: you sell high and buy low (spread +0.075% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 30 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado CRCL-PERP	92.046	0.0314	pay 0.0039% / 1h	8m 26s	$131K	$105K	3x
Short	Paradex CRCL-USD-PERP	92.114	0.0116	get 0.0116% / 8h	4h 08m	$424	$905	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.075%Rate

Funding earned: −$41.55
Price spread: +0.075% → 0.000%: $7.45
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$45.1
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Nado: live order book, 49 min ago; Paradex: 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, 49 min ago	3.80 bp	11.6 bp −$12	28.8 bp −$288	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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
Bitget CRCLUSDT	−0.0885%	8h	92.160	+0.124%	$16.6M	$35.2M	25x	as long as short
Vest CRCL-USD-PERP	−0.0069%	1h	91.870	−0.191%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	92.067	+0.023%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	92.114	+0.074%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	92.120	+0.081%	$104.9M	$390.1M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.130	+0.092%	$14.9M	$26.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.140	+0.102%	$419K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.190	+0.157%	$7.3M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.128	+0.089%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.170	+0.135%	$1.0M	$49K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT CRCL_USDT_Perp	+0.0008%	8h	92.126	+0.087%	$64K	$1.1M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.990	−0.061%	$908K	$491K	10x	as long as short
QFEX CRCL-USD	+0.0028%	1h	92.140	+0.102%	$1.3M	$2.0M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.149	+0.112%	$977K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	92.070	+0.027%	$2K	$25K	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0039%	8h	92.110	+0.070%	$22.3M	$61.5M	50x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.060	+0.015%	$94K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.033	−0.014%	$68.6M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.082	+0.039%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.161	+0.125%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.030	−0.017%	$1.0M	$5.2M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.110	+0.070%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.070	+0.026%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.030	−0.017%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.160	+0.124%	$919	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.161	+0.125%	$4	—	10x	as long as short
Paradex CRCL-USD-PERPshort	+0.0116%	8h	92.114	+0.075%	$424	$905	5x
BloFin CRCL-USDT	+0.0120%	8h	92.190	+0.157%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	92.044	−0.002%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0216%	1h	92.148	+0.111%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERPlong	+0.0314%	1h	92.046	long leg	$131K	$105K	3x
edgeX CRCLUSDC	+0.0342%	4h	92.128	+0.089%	$51K	$275K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.560	+0.559%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0727%	1h	92.170	+0.135%	$4K	$767K	10x	as long as short