Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0025%/8h= −2.7% APRpaid last 24h +0.001%

Price spread now: Aftermath Perps against Bybit+0.072%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Aftermath Perps

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

The price spread pays, funding is against you. Aftermath Perps is 0.072% dearer against Bybit than usual: you sell high and buy low (spread +0.072% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CRCLUSDT	94.180	0.0072	pay 0.0072% / 8h	1h 27m	$15.5M	$25.9M	50x
Short	Aftermath Perps CRCLUSD	94.248	0.0047	get 0.0006% / 1h	27m 45s	$2K	$20K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Bybit. 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 BybitbpFee Aftermath PerpsbpOrdersPrice spread, now +0.072%Rate

Funding earned: −$5.16
Price spread: +0.072% → 0.000%: $7.2
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$17.96
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 min ago; Aftermath Perps: no order-book sample. 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 Bybit live order book, 1 min ago	1.06 bp	10.7 bp −$11	18.4 bp −$184	doesn't fit	doesn't fit
Sell Aftermath Perps no order-book sample	—	—	—	—	—

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	94.180	0.000%	$7.2M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.200	+0.021%	$1.0M	$50K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.192	+0.013%	$888K	$2.9M	10x	as long as short
QFEX CRCL-USD	+0.0033%	1h	94.160	−0.021%	$1.4M	$2.8M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.100	−0.085%	—	$45K	25x	as long as short
Aftermath Perps CRCLUSDshort	+0.0047%	1h	94.248	+0.072%	$2K	$20K	5x
Polymarket Perps CRCL-USD	+0.0050%	1h	94.189	+0.010%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.157	−0.024%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.130	−0.053%	$1.1M	$5.8M	10x	as long as short
Bybit CRCLUSDTlong	+0.0072%	8h	94.180	long leg	$15.5M	$25.9M	50x

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	−0.085%	$936K	$740K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.120	−0.064%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.170	−0.011%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.170	−0.011%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.180	0.000%	$939	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.201	+0.022%	$4	—	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0126%	8h	94.190	+0.011%	$59K	$1.2M	10x	as long as short
Variational Omni CRCL	+0.0128%	8h	94.183	+0.003%	$2.5M	$3.2M	—	as long as short
Paradex CRCL-USD-PERP	+0.0149%	8h	94.160	−0.021%	$772	$740	5x	as long as short
tradeXYZ xyz:CRCL	+0.0153%	1h	94.152	−0.030%	$70.6M	$42.8M	10x	as long as short
RISEx CRCL/USDC	+0.0159%	1h	94.200	+0.021%	$430K	$310K	10x	as long as short
Extended CRCL_24_5-USD	+0.0168%	1h	94.145	−0.037%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0171%	8h	94.162	−0.019%	$108.2M	$388.6M	50x	as long as short
Aster CRCLUSDT	+0.0194%	8h	94.136	−0.046%	$1.1M	$4.8M	20x	as long as short
edgeX CRCLUSDC	+0.0200%	4h	94.277	+0.103%	$24K	$268K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0211%	8h	94.180	0.000%	$22.7M	$60.4M	50x	as long as short
Phoenix CRCL	+0.0212%	1h	94.187	+0.007%	$28K	$92K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	94.190	+0.011%	$96K	$275K	10x	as long as short
Nado CRCL-PERP	+0.0264%	1h	94.132	−0.051%	$126K	$74K	3x	as long as short
Lighter CRCL	+0.0288%	1h	94.203	+0.024%	$3.0M	$2.3M	10x	as long as short
BloFin CRCL-USDT	+0.0292%	8h	94.120	−0.064%	$1.1M	$579K	20x	as long as short
Bitget CRCLUSDT	+0.0313%	8h	94.180	0.000%	$16.6M	$35.2M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.760	+0.616%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0600%	1h	94.200	+0.021%	$4K	$771K	10x	as long as short