Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.004%

Price spread now: KuCoin against Aftermath Perps+0.033%46s7-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 KuCoin

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 KuCoin is 0.033% dearer against Aftermath Perps than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 46 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	94.219	0.0048	pay 0.0006% / 1h	5m 34s	$2K	$20K	5x
Short	KuCoin CRCLUSDTM	94.250	0.0100	get 0.0100% / 8h	1h 05m	$3.0M	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.033%Rate

Funding earned: $10.89
Price spread: +0.033% → 0.000%: $3.29
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$6.82
Costs to cover: 0.210%
Break-even: 11.4 days

Slippage unknown: Aftermath Perps: no order-book sample; KuCoin: 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 KuCoin live order book, 2 min ago	3.18 bp	34.8 bp −$35	doesn't fit	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_USDT	0.0000%	8h	94.230	+0.012%	$7.2M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.180	−0.041%	$1.0M	$52K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.266	+0.050%	$888K	$2.9M	10x	as long as short
QFEX CRCL-USD	+0.0033%	1h	94.150	−0.073%	$1.4M	$2.7M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.220	+0.001%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSDlong	+0.0048%	1h	94.219	long leg	$2K	$20K	5x
Polymarket Perps CRCL-USD	+0.0050%	1h	94.219	0.000%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.209	−0.011%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.160	−0.063%	$1.1M	$5.9M	10x	as long as short
Bybit CRCLUSDT	+0.0076%	8h	94.250	+0.033%	$15.5M	$25.8M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International CRCL-PERP-INTX	+0.0080%	1h	94.100	−0.126%	$936K	$720K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.180	−0.041%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTMshort	+0.0100%	8h	94.250	+0.033%	$3.0M	$1.8M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	94.170	−0.052%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.210	−0.010%	$939	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.256	+0.039%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0124%	8h	94.218	−0.001%	$773	$740	5x	as long as short
Variational Omni CRCL	+0.0128%	8h	94.142	−0.081%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	+0.0132%	8h	94.200	−0.020%	$62K	$1.1M	10x	as long as short
RISEx CRCL/USDC	+0.0159%	1h	94.237	+0.019%	$430K	$310K	10x	as long as short
Extended CRCL_24_5-USD	+0.0160%	1h	94.210	−0.009%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0161%	8h	94.230	+0.012%	$108.4M	$388.4M	50x	as long as short
tradeXYZ xyz:CRCL	+0.0171%	1h	94.210	−0.010%	$70.6M	$42.7M	10x	as long as short
Aster CRCLUSDT	+0.0178%	8h	94.202	−0.019%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0190%	8h	94.240	+0.022%	$22.7M	$60.4M	50x	as long as short
Phoenix CRCL	+0.0212%	1h	94.180	−0.041%	$28K	$92K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	94.180	−0.041%	$96K	$275K	10x	as long as short
Nado CRCL-PERP	+0.0253%	1h	94.159	−0.063%	$126K	$73K	3x	as long as short
BloFin CRCL-USDT	+0.0284%	8h	94.260	+0.044%	$1.1M	$580K	20x	as long as short
Lighter CRCL	+0.0288%	1h	94.260	+0.044%	$3.0M	$2.3M	10x	as long as short
Bitget CRCLUSDT	+0.0305%	8h	94.240	+0.022%	$16.6M	$35.1M	25x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0387%	1h	94.230	+0.012%	$4K	$772K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.760	+0.574%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0698%	4h	94.147	−0.077%	$24K	$267K	10x	as long as short