Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0002%/8h= +0.3% APRpaid last 24h −0.050%

Price spread now: Lighter RH against OKX+0.044%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$220.218% of the position

Long on OKX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.159%−$16 on $10k

Price spread, last 7 days−0.033%−$3 · spread now +0.044%, 7d avg −0.011%

Together, before fees−0.192%+ Points / potential airdropLighter RH: Points live · farm board−$19 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter RH is 0.055% dearer against OKX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CRCL-USDT-SWAP	91.130	0.0030	pay 0.0030% / 8h	5h 50m	$21.4M	$58.8M	50x
Short	Lighter RH CRCL	91.170	0.0032	get 0.0004% / 1h	50m 10s	$968K	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.044%Rate

Funding earned: $0.52
Price spread: +0.044% → −0.011%: $5.46
Slippage, 4 orders: −$11.82
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$15.84
Costs to cover: 0.218%
Break-even: 220.1 days

Slippage from OKX: live order book, 4 min ago; Lighter RH: live order book, 3 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	0.55 bp	7.1 bp −$7	11.9 bp −$119	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	3.28 bp	3.3 bp −$3	6.6 bp −$66	doesn't fit	doesn't fit

CRCL on 33 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	−0.1163%	8h	91.210	+0.088%	$15.6M	$34.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0075%	1h	90.980	−0.165%	—	$38K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.160	+0.033%	$900K	$539K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.140	+0.011%	$14.9M	$25.6M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.198	+0.075%	$416K	$297K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.150	+0.022%	$7.0M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.307	+0.194%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.480	+0.384%	$67K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.170	+0.044%	$1.0M	$49K	10x	as long as short
Binance CRCLUSDT	+0.0016%	8h	91.132	+0.002%	$103.5M	$383.5M	50x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CRCL_24_5-USD	+0.0016%	1h	91.108	−0.024%	$1.1M	$5.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0023%	1h	91.468	+0.371%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.230	+0.110%	$1.3M	$2.2M	10x	as long as short
Aster CRCLUSDT	+0.0025%	8h	91.127	−0.003%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAPlong	+0.0030%	8h	91.130	long leg	$21.4M	$58.8M	50x
Lighter RH CRCLshort	+0.0032%	1h	91.170	+0.044%	$968K	$2.9M	10x
Arcus CRCL-USD	+0.0040%	1h	91.440	+0.340%	$93K	$270K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.095	−0.038%	$68.2M	$41.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.110	−0.022%	$353K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.140	+0.011%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.160	+0.033%	$973K	$5.1M	10x	as long as short
edgeX CRCLUSDC	+0.0055%	4h	91.376	+0.270%	$23K	$267K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0070%	8h	91.371	+0.264%	$749	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.338	+0.228%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.210	+0.088%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.500	+0.406%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.140	+0.011%	$909	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.133	+0.004%	$4	—	10x	as long as short
Phoenix CRCL	+0.0183%	1h	91.382	+0.277%	$27K	$84K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0189%	1h	91.180	+0.055%	$4K	$767K	10x	as long as short
Nado CRCL-PERP	+0.0205%	1h	91.164	+0.037%	$130K	$103K	3x	as long as short
Lighter CRCL	+0.0280%	1h	91.178	+0.053%	$2.9M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.900	+0.845%	$5K	$19K	30x	as long as short