Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h +0.001%

Price spread now: Paradex against tradeXYZ+0.051%7-day average — · you sell dearer than you buy

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

Long on tradeXYZ 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 airdroptradeXYZ: Active · Paradex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Paradex is 0.051% dearer against tradeXYZ than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:CRCL	92.156	0.0050	pay 0.0006% / 1h	0m 36s	$68.7M	$41.4M	10x
Short	Paradex CRCL-USD-PERP	92.203	0.0081	get 0.0081% / 8h	5h 00m	$756	$740	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against tradeXYZ. 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 tradeXYZbpFee ParadexbpOrdersPrice spread, now +0.051%Rate

Funding earned: $6.5
Price spread: +0.051% → 0.000%: $5.06
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$10.44
Costs to cover: 0.220%
Break-even: 18.2 days

Slippage unknown: tradeXYZ: live order book, 9 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 tradeXYZ live order book, 9 min ago	1.19 bp	10.3 bp −$10	11.8 bp −$118	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 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	−0.1001%	8h	92.240	+0.091%	$16.2M	$34.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0075%	1h	91.930	−0.245%	—	$31K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	92.080	−0.082%	$908K	$501K	10x	as long as short
Aster CRCLUSDT	0.0000%	8h	92.169	+0.014%	$1.1M	$4.9M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	92.183	+0.030%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	92.185	+0.032%	$105.1M	$386.0M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.220	+0.069%	$15.2M	$25.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	92.208	+0.056%	$421K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.230	+0.080%	$7.2M	$27.0M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.126	−0.032%	$2.5M	$3.2M	—	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	0.0000%	8h	92.034	−0.132%	$68K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.160	+0.004%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0006%	8h	92.200	+0.048%	$21.6M	$59.9M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0023%	1h	92.039	−0.126%	$2K	$24K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	92.180	+0.026%	$1.3M	$2.0M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	92.221	+0.071%	$978K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.050	−0.115%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCLlong	+0.0050%	1h	92.156	long leg	$68.7M	$41.4M	10x
Polymarket Perps CRCL-USD	+0.0050%	1h	92.112	−0.048%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.117	−0.042%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.020	−0.148%	$1.0M	$5.2M	10x	as long as short
Paradex CRCL-USD-PERPshort	+0.0081%	8h	92.203	+0.051%	$756	$740	5x
Pacifica CRCL	+0.0100%	1h	92.199	+0.047%	$133K	$156K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.160	+0.004%	$2.7M	$2.0M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.000	−0.169%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.120	−0.039%	$918	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.150	−0.006%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	92.180	+0.026%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0183%	1h	92.176	+0.022%	$27K	$84K	10x	as long as short
Lighter CRCL	+0.0208%	1h	92.219	+0.068%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0218%	1h	92.147	−0.010%	$131K	$104K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0401%	1h	92.170	+0.015%	$4K	$767K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.530	+0.406%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0747%	4h	91.992	−0.178%	$23K	$249K	10x	as long as short