Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h −0.020%

Price spread now: QFEX against Paradex+0.053%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 QFEX

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 pays, funding is against you. QFEX is 0.053% dearer against Paradex than usual: you sell high and buy low (spread +0.053% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CRCL-USD-PERP	95.729	0.0098	pay 0.0098% / 8h	4h 56m	$440	$477	5x
Short	QFEX CRCL-USD	95.780	0.0014	get 0.0002% / 1h	56m 02s	$1.4M	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.053%Rate

Funding earned: −$17.67
Price spread: +0.053% → 0.000%: $5.33
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$26.34
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; QFEX: 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 QFEX live order book, 4 min ago	2.65 bp	7.7 bp −$8	9.5 bp −$95	15.8 bp −$1,576	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	95.700	−0.030%	$873K	$807K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	95.720	−0.009%	$15.6M	$28.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	95.810	+0.085%	$426K	$228K	10x	as long as short
Bitget CRCLUSDT	0.0000%	8h	95.520	−0.218%	$18.9M	$38.2M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	95.760	+0.032%	$1.1M	$47K	10x	as long as short
QFEX CRCL-USDshort	+0.0014%	1h	95.780	+0.053%	$1.4M	$1.7M	10x
Lighter RH CRCL	+0.0032%	1h	95.817	+0.092%	$1.0M	$2.6M	10x	as long as short
Injective CRCL/USDC PERP	+0.0033%	1h	95.630	−0.103%	$39K	$172K	30x	as long as short
Vest CRCL-USD-PERP	+0.0034%	1h	95.610	−0.124%	—	$30K	25x	as long as short
Gate CRCL_USDT	+0.0034%	8h	95.640	−0.093%	$7.8M	$25.8M	50x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSD	+0.0034%	1h	94.479	−1.306%	$2K	$29K	5x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	95.820	+0.095%	$1.0M	$4.3M	10x	as long as short
Arcus CRCL-USD	+0.0057%	1h	95.740	+0.011%	$96K	$229K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0076%	1h	95.554	−0.183%	$69.6M	$44.3M	10x	as long as short
Paradex CRCL-USD-PERPlong	+0.0098%	8h	95.729	long leg	$440	$477	5x
Pacifica CRCL	+0.0100%	1h	95.570	−0.166%	$142K	$149K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	95.590	−0.145%	$2.5M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.440	−1.347%	$88K	$21K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	95.770	+0.043%	$755	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	95.823	+0.098%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0176%	8h	94.730	−1.044%	$2.6M	$3.2M	—	as long as short
Phoenix CRCL	+0.0197%	1h	94.470	−1.315%	$28K	$94K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0226%	8h	95.810	+0.085%	$23.4M	$66.1M	50x	as long as short
Extended CRCL_24_5-USD	+0.0264%	1h	95.549	−0.188%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0266%	8h	95.594	−0.141%	$110.7M	$387.4M	50x	as long as short
Aster CRCLUSDT	+0.0279%	8h	95.538	−0.199%	$1.2M	$4.7M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0289%	8h	94.746	−1.027%	$65K	$998K	10x	as long as short
Nado CRCL-PERP	+0.0295%	1h	95.769	+0.041%	$153K	$91K	3x	as long as short
BloFin CRCL-USDT	+0.0370%	8h	96.030	+0.314%	$1.2M	$1.8M	20x	as long as short
edgeX CRCLUSDC	+0.0388%	4h	94.237	−1.559%	$54K	$277K	10x	as long as short
Polymarket Perps CRCL-USD	+0.0512%	1h	95.627	−0.107%	$306K	$1.0M	10x	as long as short
Lighter CRCL	+0.0552%	1h	95.867	+0.144%	$3.3M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0691%	1h	95.780	+0.053%	$5K	$415K	10x	as long as short
SoDEX CRCL-USD	+0.6470%	1h	95.688	−0.043%	$48K	$3K	10x	as long as short