Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.010%

Price spread now: SoDEX against Ondo Perps+0.077%7-day average — · you sell dearer than you buy

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

Long on Ondo Perps Short on SoDEX

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 airdropOndo Perps: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.077% dearer against Ondo Perps than usual: you sell high and buy low, +$8 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps CRCL-USD.P	91.210	0.0050	pay 0.0006% / 1h	4m 03s	$1.1M	$4.8M	10x
Short	SoDEX CRCL-USD	91.280	0.0050	get 0.0006% / 1h	4m 03s	$46K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Ondo Perps. 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 Ondo PerpsbpFee SoDEXbpOrdersPrice spread, now +0.077%Rate

Funding earned: −$0.08
Price spread: +0.077% → 0.000%: $7.67
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$5.41
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; SoDEX: 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell SoDEX no order-book sample	—	—	—	—	—

Ondo Perps and SoDEX: 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	−0.0346%	8h	91.360	+0.164%	$17.3M	$36.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0085%	1h	90.980	−0.252%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.330	+0.132%	$7.8M	$28.0M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.300	+0.099%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.285	+0.082%	$983K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.260	+0.055%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.220	+0.011%	$95K	$296K	10x	as long as short
SoDEX CRCL-USDshort	+0.0050%	1h	91.280	+0.077%	$46K	$3K	10x
Ondo Perps CRCL-USD.Plong	+0.0050%	1h	91.210	long leg	$1.1M	$4.8M	10x
Bybit CRCLUSDT	+0.0065%	8h	91.300	+0.099%	$14.8M	$26.5M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.280	+0.077%	$1.3M	$1.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.070	−0.153%	$871K	$500K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0091%	1h	91.223	+0.014%	$67.3M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.280	+0.077%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.270	+0.066%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.170	−0.044%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.260	+0.055%	$910	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.306	+0.105%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0132%	8h	91.253	+0.047%	$2.4M	$3.3M	—	as long as short
Polymarket Perps CRCL-USD	+0.0154%	1h	91.276	+0.072%	$377K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0161%	8h	91.279	+0.076%	$420	$905	5x	as long as short
Aster CRCLUSDT	+0.0199%	8h	91.301	+0.099%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0216%	8h	91.307	+0.106%	$104.9M	$389.2M	50x	as long as short
Extended CRCL_24_5-USD	+0.0216%	1h	91.284	+0.081%	$1.0M	$5.0M	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.260	+0.055%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0251%	8h	91.227	+0.018%	$70K	$1.1M	10x	as long as short
Lighter CRCL	+0.0264%	1h	91.281	+0.078%	$2.9M	$2.4M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0291%	8h	91.310	+0.110%	$22.3M	$61.7M	50x	as long as short
BloFin CRCL-USDT	+0.0333%	8h	91.320	+0.121%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0438%	1h	91.172	−0.041%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.740	+0.581%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.310	+0.110%	$412K	$263K	10x	as long as short
edgeX CRCLUSDC	+0.0907%	4h	91.195	−0.016%	$52K	$270K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0957%	1h	91.280	+0.077%	$5K	$769K	10x	as long as short