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= +7.7% APRpaid last 24h +0.062%

Price spread now: BloFin against SoDEX+0.097%56s7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on BloFin

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—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and BloFin is 0.097% dearer against SoDEX 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). The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX CRCL-USD	92.101	0.0050	pay 0.0006% / 1h	7m 55s	$46K	$3K	10x
Short	BloFin CRCL-USDT	92.190	0.0120	get 0.0120% / 8h	4h 07m	$1.1M	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against SoDEX. 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 SoDEXbpFee BloFinbpOrdersPrice spread, now +0.097%Rate

Funding earned: $14.7
Price spread: +0.097% → 0.000%: $9.66
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $4.36
Costs to cover: 0.200%
Break-even: 4.9 days

Slippage unknown: SoDEX: no order-book sample; BloFin: live order book, 5 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 SoDEX no order-book sample	—	—	—	—	—
Sell BloFin live order book, 5 min ago	1.09 bp	10.3 bp −$10	13.5 bp −$135	31.2 bp −$3,118	doesn't fit

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	−0.0885%	8h	92.170	+0.075%	$16.6M	$35.2M	25x	as long as short
Vest CRCL-USD-PERP	−0.0069%	1h	91.870	−0.251%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	92.049	−0.057%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	92.104	+0.003%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	92.141	+0.043%	$104.9M	$390.1M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.120	+0.021%	$14.9M	$26.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.140	+0.042%	$419K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.180	+0.086%	$7.3M	$27.4M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.128	+0.029%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.130	+0.031%	$1.0M	$49K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT CRCL_USDT_Perp	+0.0008%	8h	92.126	+0.027%	$64K	$1.1M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.990	−0.121%	$908K	$491K	10x	as long as short
QFEX CRCL-USD	+0.0028%	1h	92.140	+0.042%	$1.3M	$2.0M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.130	+0.031%	$976K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	92.070	−0.033%	$2K	$25K	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0039%	8h	92.150	+0.053%	$22.3M	$61.5M	50x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.060	−0.045%	$94K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.047	−0.059%	$68.6M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.082	−0.021%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USDlong	+0.0050%	1h	92.101	long leg	$46K	$3K	10x
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.030	−0.077%	$1.0M	$5.2M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.110	+0.010%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.080	−0.023%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.030	−0.077%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.090	−0.012%	$918	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.101	0.000%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0116%	8h	92.114	+0.015%	$424	$905	5x	as long as short
BloFin CRCL-USDTshort	+0.0120%	8h	92.190	+0.097%	$1.1M	$1.3M	20x
Phoenix CRCL	+0.0148%	1h	92.044	−0.062%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0216%	1h	92.129	+0.030%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0314%	1h	92.046	−0.060%	$131K	$105K	3x	as long as short
edgeX CRCLUSDC	+0.0342%	4h	92.128	+0.029%	$51K	$275K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.560	+0.498%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0728%	1h	92.100	−0.001%	$4K	$767K	10x	as long as short