Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0048%/8h= −5.2% APRpaid last 24h +0.014%

Price spread now: Gate against Aftermath Perps−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 Aftermath Perps Short on Gate

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 against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.041% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$4 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	Aftermath Perps CRCLUSD	94.299	0.0048	pay 0.0006% / 1h	33m 21s	$2K	$20K	5x
Short	Gate CRCL_USDT	94.260	0	get 0.0000% / 8h	1h 33m	$7.2M	$27.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.041%Rate

Funding earned: −$10
Price spread: −0.041% → 0.000%: −$4.11
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$38.12
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; Gate: 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Gate live order book, 5 min ago	1.59 bp	14.5 bp −$15	29.2 bp −$292	doesn't fit	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
Gate CRCL_USDTshort	0.0000%	8h	94.260	−0.041%	$7.2M	$27.5M	50x
Phemex CRCLUSDT	0.0000%	4h	94.290	−0.009%	$1.0M	$50K	10x	as long as short
QFEX CRCL-USD	+0.0033%	1h	94.290	−0.009%	$1.4M	$2.8M	10x	as long as short
Lighter RH CRCL	+0.0040%	1h	94.281	−0.019%	$889K	$2.9M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.250	−0.052%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSDlong	+0.0048%	1h	94.299	long leg	$2K	$20K	5x
Polymarket Perps CRCL-USD	+0.0050%	1h	94.229	−0.074%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.276	−0.024%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.290	−0.009%	$1.1M	$5.9M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0080%	1h	94.360	+0.065%	$939K	$742K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CRCLUSDT	+0.0082%	8h	94.270	−0.031%	$15.5M	$25.9M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	94.270	−0.031%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.300	+0.001%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.220	−0.084%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.250	−0.052%	$940	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.279	−0.021%	$4	—	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0122%	8h	94.340	+0.044%	$59K	$1.2M	10x	as long as short
Variational Omni CRCL	+0.0124%	8h	94.334	+0.037%	$2.5M	$3.2M	—	as long as short
tradeXYZ xyz:CRCL	+0.0147%	1h	94.216	−0.088%	$70.6M	$42.8M	10x	as long as short
RISEx CRCL/USDC	+0.0159%	1h	94.285	−0.015%	$430K	$310K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0163%	8h	94.285	−0.015%	$773	$740	5x	as long as short
Binance CRCLUSDT	+0.0175%	8h	94.250	−0.052%	$108.3M	$388.3M	50x	as long as short
Extended CRCL_24_5-USD	+0.0176%	1h	94.262	−0.039%	$1.1M	$3.8M	10x	as long as short
Aster CRCLUSDT	+0.0200%	8h	94.273	−0.027%	$1.1M	$4.8M	20x	as long as short
Phoenix CRCL	+0.0212%	1h	94.303	+0.004%	$28K	$92K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	94.260	−0.041%	$97K	$275K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0220%	8h	94.260	−0.041%	$22.8M	$60.4M	50x	as long as short
Nado CRCL-PERP	+0.0280%	1h	94.232	−0.071%	$126K	$74K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0281%	1h	94.270	−0.031%	$4K	$771K	10x	as long as short
BloFin CRCL-USDT	+0.0294%	8h	94.340	+0.044%	$1.1M	$580K	20x	as long as short
Lighter CRCL	+0.0312%	1h	94.346	+0.050%	$3.0M	$2.3M	10x	as long as short
Bitget CRCLUSDT	+0.0321%	8h	94.260	−0.041%	$16.6M	$35.2M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.770	+0.500%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0599%	4h	94.304	+0.006%	$24K	$268K	10x	as long as short