Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0132%/8h= −14.5% APRpaid last 24h −0.035%

Price spread now: Phemex against Paradex0.000%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 Phemex

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CRCL-USD-PERP	92.940	0.0132	pay 0.0132% / 8h	6h 02m	$428	$477	5x
Short	Phemex CRCLUSDT	92.940	0	get 0.0000% / 4h	2h 02m	$1.0M	$45K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$27.75
Price spread: 0.000% → 0.000%: $0.05
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$43.7
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Phemex: live order book, 4 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 Phemex live order book, 4 min ago	8.06 bp	42.6 bp −$43	doesn't fit	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
Vest CRCL-USD-PERP	−0.0020%	1h	92.790	−0.161%	—	$30K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.930	−0.010%	$15.1M	$25.1M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	92.960	+0.022%	$18.2M	$33.7M	25x	as long as short
Phemex CRCLUSDTshort	0.0000%	4h	92.940	0.000%	$1.0M	$45K	10x
Coinbase International CRCL-PERP-INTX	+0.0008%	1h	92.990	+0.054%	$861K	$702K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.948	+0.009%	$1.0M	$2.5M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0042%	1h	92.816	−0.133%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.929	−0.011%	$67.9M	$40.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	93.000	+0.065%	$382K	$847K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.907	−0.035%	$47K	$3K	10x	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	93.000	+0.065%	$1.1M	$3.8M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0073%	1h	92.910	−0.032%	$5K	$454K	10x	as long as short
Gate CRCL_USDT	+0.0079%	8h	93.020	+0.087%	$7.4M	$26.1M	50x	as long as short
QFEX CRCL-USD	+0.0080%	1h	92.980	+0.044%	$1.3M	$1.6M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.987	+0.051%	$139K	$141K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.890	−0.053%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.870	−0.075%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.920	−0.021%	$926	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.961	+0.023%	$4	—	10x	as long as short
Paradex CRCL-USD-PERPlong	+0.0132%	8h	92.940	long leg	$428	$477	5x
Phoenix CRCL	+0.0199%	1h	92.671	−0.289%	$27K	$66K	10x	as long as short
edgeX CRCLUSDC	+0.0201%	4h	92.956	+0.017%	$53K	$269K	10x	as long as short
Lighter CRCL	+0.0256%	1h	92.976	+0.039%	$3.0M	$2.1M	10x	as long as short
Variational Omni CRCL	+0.0303%	8h	92.823	−0.125%	$2.5M	$3.3M	—	as long as short
Nado CRCL-PERP	+0.0318%	1h	92.939	0.000%	$152K	$92K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0337%	8h	92.930	−0.010%	$23.0M	$57.2M	50x	as long as short
Arcus CRCL-USD	+0.0368%	1h	92.930	−0.010%	$94K	$214K	10x	as long as short
Aster CRCLUSDT	+0.0381%	8h	92.967	+0.029%	$1.1M	$4.5M	20x	as long as short
Extended CRCL_24_5-USD	+0.0384%	1h	92.891	−0.053%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0387%	8h	92.910	−0.032%	$107.5M	$353.9M	50x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.090	−0.914%	$38K	$172K	30x	as long as short
RISEx CRCL/USDC	+0.0479%	1h	92.975	+0.038%	$417K	$240K	10x	as long as short
BloFin CRCL-USDT	+0.0509%	8h	92.980	+0.044%	$1.1M	$1.7M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0795%	8h	92.663	−0.298%	$62K	$1.0M	10x	as long as short