Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0317%/8h= −34.7% APRpaid last 24h +0.017%

Price spread now: Bitget against Aftermath Perps+0.207%7-day average — · you sell dearer than you buy

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

Long on Aftermath Perps Short on Bitget

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—needs both histories

The price spread pays, funding is against you. Bitget is 0.207% dearer against Aftermath Perps than usual: you sell high and buy low (spread +0.207% now, against zero (this spread has no 7-day history yet)): +$21 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps CRCLUSD	91.691	0.0040	pay 0.0005% / 1h	42m 04s	$2K	$28K	5x
Short	Bitget CRCLUSDT	91.880	−0.0277	pay 0.0277% / 8h	42m 04s	$17.6M	$36.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Aftermath Perps. 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 Aftermath PerpsbpFee BitgetbpOrdersPrice spread, now +0.207%Rate

Funding earned: −$66.56
Price spread: +0.207% → 0.000%: $20.66
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$66.9
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; Bitget: live order book, 2 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Bitget live order book, 2 min ago	1.63 bp	10.7 bp −$11	18.7 bp −$187	62.3 bp −$6,231	doesn't fit

Aftermath Perps: 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 CRCLUSDTshort	−0.0277%	8h	91.880	+0.207%	$17.6M	$36.6M	25x
Vest CRCL-USD-PERP	−0.0079%	1h	91.550	−0.153%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.920	+0.250%	$7.8M	$27.3M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.780	+0.098%	$1.0M	$48K	10x	as long as short
Bybit CRCLUSDT	+0.0029%	8h	91.860	+0.185%	$14.8M	$26.4M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.848	+0.172%	$982K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSDlong	+0.0040%	1h	91.691	long leg	$2K	$28K	5x
Arcus CRCL-USD	+0.0040%	1h	91.710	+0.021%	$97K	$292K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.810	+0.130%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.640	−0.055%	$1.1M	$4.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.790	+0.108%	$1.3M	$1.8M	10x	as long as short
Variational Omni CRCL	+0.0078%	8h	91.737	+0.051%	$2.4M	$3.3M	—	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.400	−0.317%	$890K	$415K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.790	+0.108%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.740	+0.054%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.690	−0.001%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.810	+0.130%	$915	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.845	+0.168%	$4	—	10x	as long as short
tradeXYZ xyz:CRCL	+0.0142%	1h	91.773	+0.090%	$68.0M	$43.9M	10x	as long as short
Aster CRCLUSDT	+0.0161%	8h	91.726	+0.038%	$1.0M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0176%	1h	91.816	+0.136%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0177%	8h	91.830	+0.152%	$105.5M	$389.7M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0179%	8h	91.759	+0.075%	$422	$905	5x	as long as short
Polymarket Perps CRCL-USD	+0.0193%	1h	91.816	+0.137%	$380K	$1.3M	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.776	+0.093%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0240%	8h	91.780	+0.098%	$69K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0259%	8h	91.860	+0.185%	$22.4M	$62.0M	50x	as long as short
BloFin CRCL-USDT	+0.0295%	8h	91.750	+0.065%	$1.1M	$1.7M	20x	as long as short
Lighter CRCL	+0.0296%	1h	91.845	+0.168%	$3.0M	$2.3M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.150	+0.501%	$5K	$19K	30x	as long as short
Nado CRCL-PERP	+0.0441%	1h	91.744	+0.058%	$134K	$109K	3x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.854	+0.178%	$412K	$271K	10x	as long as short
edgeX CRCLUSDC	+0.0557%	4h	91.704	+0.015%	$52K	$278K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0949%	1h	91.860	+0.185%	$5K	$769K	10x	as long as short