Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0141%/8h= +15.4% APRpaid last 24h +0.014%

Price spread now: Extended against Paradex+0.103%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 Extended

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 · Extended: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Extended is 0.103% dearer against Paradex than usual: you sell high and buy low: +$10 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	95.703	0.0139	pay 0.0139% / 8h	4h 44m	$440	$477	5x
Short	Extended CRCL_24_5-USD	95.802	0.0280	get 0.0035% / 1h	44m 05s	$1.1M	$4.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.103%Rate

Funding earned: $29.53
Price spread: +0.103% → 0.000%: $10.28
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $30.81
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Extended: live order book, 3 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 Extended live order book, 3 min ago	0.47 bp	5.0 bp −$5	16.7 bp −$167	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 exchanges

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
Coinbase International CRCL-PERP-INTX	−0.0024%	1h	95.670	−0.035%	$873K	$807K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	95.850	+0.153%	$16.0M	$29.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	95.710	+0.007%	$436K	$232K	10x	as long as short
Bitget CRCLUSDT	0.0000%	8h	95.880	+0.184%	$19.2M	$39.3M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	95.800	+0.101%	$1.1M	$47K	10x	as long as short
QFEX CRCL-USD	+0.0014%	1h	95.660	−0.045%	$1.4M	$1.7M	10x	as long as short
Gate CRCL_USDT	+0.0025%	8h	95.870	+0.174%	$7.8M	$26.8M	50x	as long as short
Injective CRCL/USDC PERP	+0.0033%	1h	95.630	−0.077%	$39K	$172K	30x	as long as short
Aftermath Perps CRCLUSD	+0.0042%	1h	95.633	−0.073%	$2K	$29K	5x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	95.740	+0.038%	—	$29K	25x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	95.620	−0.087%	$1.1M	$4.4M	10x	as long as short
Arcus CRCL-USD	+0.0057%	1h	95.710	+0.007%	$99K	$242K	10x	as long as short
Lighter RH CRCL	+0.0064%	1h	95.766	+0.065%	$1.0M	$2.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	95.700	−0.004%	$143K	$151K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	95.700	−0.004%	$2.5M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	95.390	−0.328%	$98K	$26K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	95.840	+0.143%	$755	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	95.831	+0.133%	$4	—	10x	as long as short
tradeXYZ xyz:CRCL	+0.0116%	1h	95.737	+0.035%	$69.5M	$44.6M	10x	as long as short
Phoenix CRCL	+0.0136%	1h	95.400	−0.317%	$29K	$94K	10x	as long as short
Paradex CRCL-USD-PERPlong	+0.0139%	8h	95.703	long leg	$440	$477	5x
Variational Omni CRCL	+0.0172%	8h	95.761	+0.060%	$2.7M	$3.4M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0227%	8h	95.890	+0.195%	$23.8M	$68.4M	50x	as long as short
edgeX CRCLUSDC	+0.0236%	4h	95.429	−0.287%	$55K	$279K	10x	as long as short
Extended CRCL_24_5-USDshort	+0.0280%	1h	95.802	+0.103%	$1.1M	$4.0M	10x
Binance CRCLUSDT	+0.0283%	8h	95.805	+0.106%	$112.3M	$398.9M	50x	as long as short
Aster CRCLUSDT	+0.0299%	8h	95.760	+0.059%	$1.2M	$4.8M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0331%	8h	95.986	+0.295%	$56K	$1.0M	10x	as long as short
BloFin CRCL-USDT	+0.0393%	8h	95.880	+0.184%	$1.1M	$1.8M	20x	as long as short
Nado CRCL-PERP	+0.0415%	1h	95.651	−0.054%	$153K	$93K	3x	as long as short
Polymarket Perps CRCL-USD	+0.0425%	1h	95.742	+0.040%	$304K	$1.4M	10x	as long as short
Lighter CRCL	+0.0496%	1h	95.808	+0.109%	$3.3M	$2.5M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0899%	1h	95.860	+0.164%	$5K	$415K	10x	as long as short
SoDEX CRCL-USD	+0.1529%	1h	95.804	+0.105%	$48K	$3K	10x	as long as short