Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0823%/8h= −90.1% APRpaid last 24h +0.026%

Price spread now: Bitget against ApeX Omni+0.219%103s7-day average — · you sell dearer than you buy

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

Long on ApeX Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.162%+$16 on $10k

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 0.219% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.219% now, against zero (this spread has no 7-day history yet)): +$22 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 21 hours. Mind the row above: over the last 7 days funding on this pair paid +0.162%, so the current rate has only just turned against you. The two prices were read 103 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.162% in total (about 8.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni CRCLUSDT	91.190	0.0100	pay 0.0013% / 1h	31m 56s	$67K	$4K	50x
Short	Bitget CRCLUSDT	91.390	−0.0723	pay 0.0723% / 8h	1h 31m	$17.4M	$37.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against ApeX Omni. 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 ApeX OmnibpFee BitgetbpOrdersPrice spread, now +0.219%Rate

Funding earned: −$172.83
Price spread: +0.219% → 0.000%: $21.93
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$172.9
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: ApeX Omni: 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 ApeX Omni no order-book sample	—	—	—	—	—
Sell Bitget live order book, 2 min ago	1.09 bp	9.3 bp −$9	13.4 bp −$134	52.0 bp −$5,197	doesn't fit

ApeX Omni: 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	−0.0723%	8h	91.390	+0.219%	$17.4M	$37.0M	25x
Vest CRCL-USD-PERP	−0.0087%	1h	90.980	−0.230%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.270	+0.088%	$14.6M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.340	+0.164%	$7.8M	$27.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.259	+0.076%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.340	+0.164%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.327	+0.150%	$976K	$2.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.254	+0.070%	$2K	$27K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.260	+0.077%	$94K	$291K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.298	+0.118%	$46K	$3K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.120	−0.077%	$1.1M	$5.2M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0056%	1h	91.200	+0.011%	$888K	$603K	10x	as long as short
QFEX CRCL-USD	+0.0068%	1h	91.260	+0.077%	$1.3M	$1.8M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0076%	1h	91.202	+0.013%	$67.5M	$44.4M	10x	as long as short
Aster CRCLUSDT	+0.0085%	8h	91.265	+0.083%	$1.0M	$5.1M	20x	as long as short
Extended CRCL_24_5-USD	+0.0096%	1h	91.244	+0.060%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0098%	8h	91.258	+0.075%	$104.3M	$397.5M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.285	+0.104%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.290	+0.110%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDTlong	+0.0100%	1h	91.190	long leg	$67K	$4K	50x
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.300	+0.121%	$910	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.302	+0.123%	$4	—	10x	as long as short
Polymarket Perps CRCL-USD	+0.0129%	1h	91.290	+0.110%	$382K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0159%	8h	91.327	+0.151%	$420	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0189%	8h	91.330	+0.154%	$67K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0196%	8h	91.310	+0.132%	$22.2M	$62.5M	50x	as long as short
BloFin CRCL-USDT	+0.0217%	8h	91.350	+0.175%	$1.1M	$1.7M	20x	as long as short
Phoenix CRCL	+0.0245%	1h	91.232	+0.046%	$27K	$82K	10x	as long as short
RISEx CRCL/USDC	+0.0271%	1h	91.314	+0.135%	$416K	$268K	10x	as long as short
Lighter CRCL	+0.0296%	1h	91.331	+0.155%	$2.9M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0408%	1h	91.280	+0.099%	$5K	$769K	10x	as long as short
Nado CRCL-PERP	+0.0410%	1h	91.182	−0.009%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.700	+0.559%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0904%	4h	91.319	+0.141%	$52K	$277K	10x	as long as short