Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Orderly against Pacifica+0.094%7-day average — · you sell dearer than you buy

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

Long on Pacifica Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPacifica: 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: Orderly is 0.094% dearer against Pacifica than usual: you sell high and buy low, +$9 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	Pacifica CRCL	91.633	0.0100	pay 0.0013% / 1h	39m 40s	$134K	$159K	10x
Short	Orderly PERP_CRCL_USDC_mythos	91.720	0.0100	get 0.0100% / 8h	4h 39m	$914	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Pacifica. 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 PacificabpFee OrderlybpOrdersPrice spread, now +0.094%Rate

Funding earned: $0
Price spread: +0.094% → 0.000%: $9.44
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$4.56
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 64 min ago; Orderly: 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 Pacifica live order book, 64 min ago	10.93 bp	21.6 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.0976%	8h	91.680	+0.051%	$16.2M	$34.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.490	−0.157%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.665	+0.034%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.587	−0.051%	$1.1M	$5.6M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.610	−0.026%	$104.5M	$388.2M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.630	−0.004%	$14.9M	$26.3M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.620	−0.015%	$418K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.660	+0.029%	$7.2M	$27.0M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.678	+0.049%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.698	+0.070%	$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	91.690	+0.062%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0014%	8h	91.640	+0.007%	$21.9M	$60.6M	50x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.700	+0.073%	$905K	$490K	10x	as long as short
edgeX CRCLUSDC	+0.0023%	4h	91.866	+0.254%	$51K	$275K	10x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.630	−0.004%	$1.3M	$2.0M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0029%	1h	91.744	+0.121%	$2K	$24K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.676	+0.046%	$973K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.930	+0.324%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.599	−0.038%	$68.3M	$41.6M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.723	+0.098%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.635	+0.002%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.700	+0.073%	$992K	$5.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0088%	8h	91.641	+0.008%	$422	$905	5x	as long as short
Pacifica CRCLlong	+0.0100%	1h	91.633	long leg	$134K	$159K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	91.620	−0.015%	$2.7M	$2.0M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.630	−0.004%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythosshort	+0.0100%	8h	91.720	+0.094%	$914	$2K	10x
Aevo CRCL-PERP	+0.0104%	1h	91.722	+0.097%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.670	+0.040%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.674	+0.044%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0192%	1h	91.695	+0.067%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0304%	1h	91.644	+0.011%	$130K	$104K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.190	+0.607%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0514%	1h	91.750	+0.127%	$4K	$767K	10x	as long as short