Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0091%/8h= +9.9% APRpaid last 24h −0.029%

Price spread now: Pacifica against OKX−0.059%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$590.593% of the position

Long on OKX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 4 days (all we have)+0.043%+$4 · spread now −0.059%, 7d avg −0.024%

Together, before fees−0.019%+ Points / potential airdropPacifica: Active · farm board−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.035% cheaper against OKX than usual: you would sell low and buy high (spread −0.059% now, against its 7-day average of −0.024%). If the spread goes back, that is −$3 on $10k: about 31 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.062%, 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	OKX CRCL-USDT-SWAP	91.710	0.0009	pay 0.0009% / 8h	5h 28m	$21.6M	$59.4M	50x
Short	Pacifica CRCL	91.656	0.0100	get 0.0013% / 1h	28m 19s	$132K	$157K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.059%Rate

Funding earned: $19.02
Price spread: −0.059% → −0.024%: −$3.47
Slippage, 4 orders: −$41.32
Fee OKX: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$43.77
Costs to cover: 0.593%
Break-even: 23.1 days

Slippage from OKX: live order book, 5 min ago; Pacifica: live order book, 15 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, 5 min ago	0.55 bp	7.2 bp −$7	10.9 bp −$109	doesn't fit	doesn't fit
Sell Pacifica live order book, 15 min ago	10.93 bp	23.2 bp −$23	doesn't fit	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	−0.1308%	8h	91.690	−0.022%	$15.8M	$34.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0076%	1h	91.440	−0.294%	—	$35K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.690	−0.022%	$905K	$529K	10x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.624	−0.093%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.680	−0.033%	$104.6M	$385.0M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.720	+0.011%	$15.1M	$25.8M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.669	−0.045%	$418K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.720	+0.011%	$7.1M	$26.6M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.746	+0.039%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.777	+0.073%	$65K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.650	−0.065%	$1.0M	$49K	10x	as long as short
Aster CRCLUSDT	+0.0002%	8h	91.683	−0.029%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAPlong	+0.0009%	8h	91.710	long leg	$21.6M	$59.4M	50x
Aftermath Perps CRCLUSD	+0.0018%	1h	91.639	−0.078%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.630	−0.087%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.693	−0.019%	$973K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.620	−0.098%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.634	−0.083%	$68.5M	$41.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.672	−0.041%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.640	−0.076%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.610	−0.109%	$970K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0068%	8h	91.704	−0.007%	$752	$740	5x	as long as short
Pacifica CRCLshort	+0.0100%	1h	91.656	−0.059%	$132K	$157K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	91.680	−0.033%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.820	+0.120%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.660	−0.055%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.664	−0.050%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.660	−0.055%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0183%	1h	91.684	−0.028%	$27K	$84K	10x	as long as short
Nado CRCL-PERP	+0.0183%	1h	91.626	−0.092%	$131K	$104K	3x	as long as short
Lighter CRCL	+0.0216%	1h	91.698	−0.013%	$3.0M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.330	+0.676%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0590%	4h	91.601	−0.119%	$23K	$268K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0623%	1h	91.680	−0.033%	$4K	$767K	10x	as long as short