Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0374%/8h= +41.0% APRpaid last 24h +0.141%

Price spread now: edgeX against Paradex+0.196%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on edgeX

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 · edgeX: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and edgeX is 0.196% dearer against Paradex than usual: you sell high and buy low: +$20 more if the spread 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	Paradex CRCL-USD-PERP	91.784	0.0127	pay 0.0127% / 8h	3h 40m	$422	$905	5x
Short	edgeX CRCLUSDC	91.963	0.0501	get 0.0250% / 4h	3h 40m	$51K	$275K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.196%Rate

Funding earned: $78.54
Price spread: +0.196% → 0.000%: $19.56
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $85.09
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; edgeX: live order book, 12 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 edgeX live order book, 12 min ago	5.97 bp	11.5 bp −$12	23.9 bp −$239	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
Bitget CRCLUSDT	−0.0703%	8h	91.920	+0.148%	$16.8M	$35.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.580	−0.222%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.850	+0.072%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.930	+0.159%	$7.3M	$27.3M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.849	+0.071%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.820	+0.039%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0007%	8h	91.805	+0.023%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0012%	8h	91.854	+0.077%	$104.6M	$391.3M	50x	as long as short
Extended CRCL_24_5-USD	+0.0016%	1h	91.822	+0.041%	$1.2M	$5.7M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.824	+0.044%	$973K	$2.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0039%	1h	91.867	+0.091%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.860	+0.083%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.890	+0.116%	$907K	$510K	10x	as long as short
BloFin CRCL-USDT	+0.0049%	8h	91.810	+0.028%	$1.1M	$1.6M	20x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.769	−0.016%	$68.1M	$41.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.791	+0.008%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.820	+0.039%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.680	−0.113%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.810	+0.028%	$1.3M	$1.9M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0072%	8h	91.949	+0.180%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0075%	8h	91.880	+0.105%	$22.3M	$61.6M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.817	+0.036%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.780	−0.004%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.920	+0.148%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.760	−0.026%	$915	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.798	+0.015%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.821	+0.040%	$417K	$299K	10x	as long as short
Paradex CRCL-USD-PERPlong	+0.0127%	8h	91.784	long leg	$422	$905	5x
Phoenix CRCL	+0.0182%	1h	91.905	+0.132%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0296%	1h	91.818	+0.037%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0362%	1h	91.776	−0.008%	$134K	$106K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.628%	$5K	$19K	30x	as long as short
edgeX CRCLUSDCshort	+0.0501%	4h	91.963	+0.196%	$51K	$275K	10x
Deribit CRCL_USDC-PERPETUAL	+0.0513%	1h	91.780	−0.004%	$4K	$768K	10x	as long as short