Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0488%/8h= +53.4% APRpaid last 24h +0.101%

Price spread now: edgeX against OKX−0.461%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs+$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$360.364% of the position

Long on OKX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.670%+$67 on $10k

Price spread, last 4 days (all we have)+1.056%+$106 · spread now −0.461%, 7d avg −0.005%

Together, before fees+1.725%+ Points / potential airdropedgeX: Active · farm board+$173 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.456% cheaper against OKX than usual: you would sell low and buy high (spread −0.461% now, against its 7-day average of −0.005%). If the spread goes back, that is −$46 on $10k: about 3.1 days of funding at the current rate (+$15 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CRCL-USDT-SWAP	92.160	0.0077	pay 0.0077% / 8h	6h 34m	$21.7M	$60.4M	50x
Short	edgeX CRCLUSDC	91.735	0.0565	get 0.0282% / 4h	2h 34m	$23K	$267K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against OKX. 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 OKXbpFee edgeXbpOrdersPrice spread, now −0.461%Rate

Funding earned: $102.38
Price spread: −0.461% → −0.005%: −$45.64
Slippage, 4 orders: −$17.42
Fee OKX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $20.32
Costs to cover: 0.364%
Break-even: 5.6 days

Slippage from OKX: live order book, 4 min ago; edgeX: live order book, 33 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 OKX live order book, 4 min ago	0.54 bp	6.3 bp −$6	11.5 bp −$115	doesn't fit	doesn't fit
Sell edgeX live order book, 33 min ago	6.38 bp	12.0 bp −$12	24.0 bp −$240	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	−0.0393%	8h	92.210	+0.054%	$16.0M	$35.3M	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.990	−0.184%	$916K	$586K	10x	as long as short
Vest CRCL-USD-PERP	0.0000%	1h	91.830	−0.358%	—	$37K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.140	−0.022%	$15.1M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.070	−0.098%	$421K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.160	0.000%	$7.2M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.051	−0.119%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.790	−0.402%	$61K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.000	−0.174%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0026%	1h	92.008	−0.165%	$2K	$23K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	92.131	−0.031%	$980K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.950	−0.228%	$93K	$272K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.086	−0.080%	$69.4M	$41.9M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.032	−0.139%	$356K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.082	−0.085%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.850	−0.336%	$1.0M	$5.5M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	92.080	−0.087%	$1.3M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0076%	1h	92.100	−0.065%	$4K	$769K	10x	as long as short
OKX CRCL-USDT-SWAPlong	+0.0077%	8h	92.160	long leg	$21.7M	$60.4M	50x
Binance CRCLUSDT	+0.0078%	8h	92.116	−0.048%	$105.1M	$392.7M	50x	as long as short
Extended CRCL_24_5-USD	+0.0080%	1h	92.096	−0.069%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0081%	8h	92.085	−0.081%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0083%	8h	92.108	−0.056%	$755	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	92.094	−0.071%	$129K	$154K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.090	−0.076%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.890	−0.293%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.050	−0.119%	$918	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.094	−0.071%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0172%	1h	92.023	−0.148%	$131K	$103K	3x	as long as short
Lighter CRCL	+0.0208%	1h	92.153	−0.008%	$3.0M	$2.4M	10x	as long as short
BloFin CRCL-USDT	+0.0222%	8h	92.330	+0.184%	$1.1M	$1.1M	20x	as long as short
Phoenix CRCL	+0.0231%	1h	91.730	−0.467%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.370	+0.228%	$5K	$19K	30x	as long as short
edgeX CRCLUSDCshort	+0.0565%	4h	91.735	−0.461%	$23K	$267K	10x