Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0346%/8h= +37.9% APRpaid last 24h +0.085%

Price spread now: Deribit against Paradex−0.031%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Deribit is 0.031% cheaper against Paradex than usual: you would sell low and buy high (spread −0.031% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 7 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CRCL-USD-PERP	92.529	0.0162	pay 0.0162% / 8h	6h 56m	$426	$766	5x
Short	Deribit CRCL_USDC-PERPETUAL	92.500	0.0507	get 0.0063% / 1h	56m 20s	$5K	$617K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Paradex. 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 ParadexbpFee DeribitbpOrdersPrice spread, now −0.031%Rate

Funding earned: $72.6
Price spread: −0.031% → 0.000%: −$3.14
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $58.45
Costs to cover: 0.110%
Break-even: 1.4 days

Slippage unknown: Paradex: no order-book sample; Deribit: live order book, 38 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell Deribit live order book, 38 min ago	6.59 bp	10.1 bp −$10	12.6 bp −$126	doesn't fit	doesn't fit

Paradex: 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
Vest CRCL-USD-PERP	−0.0065%	1h	92.370	−0.172%	—	$31K	25x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.540	+0.012%	$18.0M	$35.1M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.640	+0.120%	$1.0M	$46K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0008%	1h	92.260	−0.291%	$888K	$675K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.579	+0.054%	$995K	$2.3M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	92.509	−0.022%	$2K	$29K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.514	−0.016%	$380K	$954K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.455	−0.080%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.420	−0.118%	$1.1M	$4.2M	10x	as long as short
Gate CRCL_USDT	+0.0054%	8h	92.540	+0.012%	$7.3M	$25.4M	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	+0.0080%	1h	92.490	−0.042%	$1.4M	$1.6M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.510	−0.021%	$136K	$139K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.590	+0.066%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.510	−0.021%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.520	−0.010%	$922	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.515	−0.016%	$4	—	10x	as long as short
Bybit CRCLUSDT	+0.0124%	8h	92.520	−0.010%	$15.1M	$25.9M	50x	as long as short
tradeXYZ xyz:CRCL	+0.0139%	1h	92.436	−0.101%	$67.7M	$42.9M	10x	as long as short
Paradex CRCL-USD-PERPlong	+0.0162%	8h	92.529	long leg	$426	$766	5x
Lighter CRCL	+0.0176%	1h	92.529	0.000%	$3.0M	$2.0M	10x	as long as short
Phoenix CRCL	+0.0254%	1h	92.779	+0.270%	$27K	$64K	10x	as long as short
Variational Omni CRCL	+0.0257%	8h	92.578	+0.053%	$2.4M	$3.2M	—	as long as short
Aster CRCLUSDT	+0.0307%	8h	92.578	+0.053%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0312%	8h	92.530	+0.001%	$22.6M	$59.4M	50x	as long as short
Binance CRCLUSDT	+0.0317%	8h	92.537	+0.008%	$106.6M	$377.0M	50x	as long as short
Extended CRCL_24_5-USD	+0.0320%	1h	92.527	−0.003%	$1.1M	$5.0M	10x	as long as short
Nado CRCL-PERP	+0.0343%	1h	92.441	−0.095%	$149K	$111K	3x	as long as short
Arcus CRCL-USD	+0.0368%	1h	92.500	−0.031%	$96K	$268K	10x	as long as short
BloFin CRCL-USDT	+0.0439%	8h	92.450	−0.085%	$1.1M	$1.7M	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	93.200	+0.725%	$39K	$172K	30x	as long as short
RISEx CRCL/USDC	+0.0479%	1h	92.563	+0.037%	$414K	$255K	10x	as long as short
Deribit CRCL_USDC-PERPETUALshort	+0.0507%	1h	92.500	−0.031%	$5K	$617K	10x
edgeX CRCLUSDC	+0.0681%	4h	92.633	+0.113%	$53K	$268K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0688%	8h	92.732	+0.219%	$62K	$1.1M	10x	as long as short