Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0081%/8h= −8.9% APRpaid last 24h −0.003%

Price spread now: SoDEX against Paradex−0.059%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 SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SoDEX is 0.059% cheaper against Paradex than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CRCL-USD-PERP	91.672	0.0131	pay 0.0131% / 8h	2h 09m	$422	$905	5x
Short	SoDEX CRCL-USD	91.618	0.0050	get 0.0006% / 1h	9m 01s	$46K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.059%Rate

Funding earned: −$17.02
Price spread: −0.059% → 0.000%: −$5.88
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$34.9
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; SoDEX: no order-book sample. 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 SoDEX no order-book sample	—	—	—	—	—

Paradex and SoDEX: 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	−0.0939%	8h	91.720	+0.052%	$17.3M	$36.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0081%	1h	91.370	−0.329%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.660	−0.013%	$14.7M	$26.8M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.660	−0.013%	$7.6M	$27.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.539	−0.145%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.660	−0.013%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.665	−0.008%	$977K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0036%	1h	91.358	−0.343%	$2K	$27K	5x	as long as short
Aster CRCLUSDT	+0.0036%	8h	91.543	−0.141%	$1.0M	$5.1M	20x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.440	−0.253%	$93K	$289K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CRCL_24_5-USD	+0.0048%	1h	91.617	−0.060%	$1.0M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0049%	8h	91.635	−0.041%	$104.4M	$397.3M	50x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.692	+0.022%	$384K	$1.3M	10x	as long as short
SoDEX CRCL-USDshort	+0.0050%	1h	91.618	−0.059%	$46K	$3K	10x
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.490	−0.198%	$1.1M	$5.2M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	91.640	−0.035%	$1.3M	$1.8M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0057%	1h	91.574	−0.107%	$67.8M	$44.2M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	91.590	−0.089%	$892K	$606K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.640	−0.035%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.590	−0.089%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.470	−0.220%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.650	−0.024%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.693	+0.023%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	91.700	+0.031%	$418K	$283K	10x	as long as short
Paradex CRCL-USD-PERPlong	+0.0131%	8h	91.672	long leg	$422	$905	5x
GRVT CRCL_USDT_Perp	+0.0134%	8h	91.536	−0.149%	$65K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0145%	8h	91.680	+0.009%	$22.3M	$62.8M	50x	as long as short
BloFin CRCL-USDT	+0.0169%	8h	91.700	+0.031%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0210%	1h	91.229	−0.483%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0248%	1h	91.665	−0.008%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0327%	1h	91.546	−0.138%	$133K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.770	+0.107%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0552%	4h	91.496	−0.192%	$52K	$277K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0733%	1h	91.690	+0.020%	$4K	$768K	10x	as long as short