Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0003%/8h= −0.4% APRpaid last 24h −0.015%

Price spread now: GRVT against Aftermath Perps+0.181%67s7-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 GRVT

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.181% dearer against Aftermath Perps than usual: you sell high and buy low, +$18 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 67 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	Aftermath Perps CRCLUSD	94.100	0.0038	pay 0.0005% / 1h	6m 29s	$2K	$22K	5x
Short	GRVT CRCL_USDT_Perp	94.270	0.0035	get 0.0035% / 8h	7h 06m	$62K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.181%Rate

Funding earned: −$0.68
Price spread: +0.181% → 0.000%: $18.11
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$0.57
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Aftermath Perps: no order-book sample; GRVT: 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 GRVT live order book, 2 min ago	0.53 bp	9.4 bp −$9	19.9 bp −$199	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
Coinbase International CRCL-PERP-INTX	−0.0064%	1h	94.100	0.000%	$941K	$621K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	93.980	−0.127%	$15.4M	$25.4M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.040	−0.063%	$7.2M	$27.1M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	94.010	−0.095%	$16.8M	$34.4M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.140	+0.043%	$1.0M	$49K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.005	−0.101%	$886K	$2.8M	10x	as long as short
GRVT CRCL_USDT_Perpshort	+0.0035%	8h	94.270	+0.181%	$62K	$1.1M	10x
Aftermath Perps CRCLUSDlong	+0.0038%	1h	94.100	long leg	$2K	$22K	5x
QFEX CRCL-USD	+0.0042%	1h	93.980	−0.127%	$1.4M	$2.5M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	93.860	−0.255%	—	$37K	25x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CRCL	+0.0050%	1h	93.892	−0.221%	$71.5M	$40.5M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	93.910	−0.201%	$364K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.055	−0.047%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	93.880	−0.233%	$1.1M	$5.7M	10x	as long as short
Variational Omni CRCL	+0.0091%	8h	94.279	+0.191%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0099%	8h	94.001	−0.105%	$771	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	94.000	−0.106%	$75K	$96K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.030	−0.074%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.140	+0.043%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.010	−0.095%	$937	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	93.959	−0.150%	$4	—	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0129%	8h	94.020	−0.085%	$22.7M	$58.9M	50x	as long as short
Binance CRCLUSDT	+0.0163%	8h	93.990	−0.116%	$108.9M	$385.0M	50x	as long as short
Aster CRCLUSDT	+0.0167%	8h	94.058	−0.044%	$1.1M	$4.9M	20x	as long as short
Extended CRCL_24_5-USD	+0.0168%	1h	93.984	−0.122%	$1.1M	$5.7M	10x	as long as short
Nado CRCL-PERP	+0.0228%	1h	93.923	−0.187%	$131K	$76K	3x	as long as short
BloFin CRCL-USDT	+0.0284%	8h	94.070	−0.031%	$1.1M	$576K	20x	as long as short
Phoenix CRCL	+0.0296%	1h	94.311	+0.225%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0328%	1h	94.070	−0.031%	$3.0M	$2.3M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0388%	1h	94.070	−0.031%	$4K	$769K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.670	+0.606%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0507%	4h	94.232	+0.141%	$24K	$267K	10x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.150	+0.054%	$96K	$271K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	94.000	−0.106%	$428K	$297K	10x	as long as short