Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0070%/8h= +7.6% APRpaid last 24h +0.028%

Price spread now: Paradex against Phemex−0.041%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Paradex

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

Funding pays, the price is against you. Paradex is 0.041% cheaper against Phemex than usual: you would sell low and buy high (spread −0.041% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 47 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex CRCLUSDT	91.170	0	get 0.0000% / 4h	1h 49m	$1.0M	$49K	10x
Short	Paradex CRCL-USD-PERP	91.133	0.0070	get 0.0070% / 8h	5h 49m	$747	$740	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Phemex. 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 PhemexbpFee ParadexbpOrdersPrice spread, now −0.041%Rate

Funding earned: $14.63
Price spread: −0.041% → 0.000%: −$4.08
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$5.45
Costs to cover: 0.160%
Break-even: 9.6 days

Slippage unknown: Phemex: live order book, 3 min ago; Paradex: 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 Phemex live order book, 3 min ago	1.64 bp	37.6 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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 33 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	−0.1192%	8h	91.190	+0.022%	$15.6M	$34.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0075%	1h	90.980	−0.208%	—	$38K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.160	−0.011%	$900K	$539K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.120	−0.055%	$14.9M	$25.7M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.110	−0.066%	$416K	$297K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.150	−0.022%	$7.0M	$26.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.307	+0.150%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.340	+0.186%	$66K	$1.1M	10x	as long as short
Phemex CRCLUSDTlong	0.0000%	4h	91.170	long leg	$1.0M	$49K	10x
Binance CRCLUSDT	+0.0014%	8h	91.102	−0.075%	$103.5M	$383.6M	50x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CRCL_24_5-USD	+0.0016%	1h	91.093	−0.084%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0021%	8h	91.147	−0.025%	$1.1M	$4.9M	20x	as long as short
Aftermath Perps CRCLUSD	+0.0023%	1h	91.468	+0.327%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.100	−0.077%	$1.3M	$2.2M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0027%	8h	91.160	−0.011%	$21.4M	$58.9M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.156	−0.015%	$969K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.320	+0.165%	$93K	$271K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.130	−0.044%	$68.2M	$41.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.110	−0.066%	$353K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.140	−0.033%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.160	−0.011%	$973K	$5.1M	10x	as long as short
edgeX CRCLUSDC	+0.0055%	4h	91.376	+0.226%	$23K	$267K	10x	as long as short
Paradex CRCL-USD-PERPshort	+0.0070%	8h	91.133	−0.041%	$747	$740	5x
Pacifica CRCL	+0.0100%	1h	91.118	−0.057%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.200	+0.033%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.500	+0.362%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.140	−0.033%	$909	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.133	−0.040%	$4	—	10x	as long as short
Phoenix CRCL	+0.0183%	1h	91.382	+0.233%	$27K	$84K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0189%	1h	91.180	+0.011%	$4K	$767K	10x	as long as short
Nado CRCL-PERP	+0.0205%	1h	91.164	−0.006%	$130K	$103K	3x	as long as short
Lighter CRCL	+0.0280%	1h	91.170	0.000%	$2.9M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.900	+0.801%	$5K	$19K	30x	as long as short