Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0249%/8h= −27.3% APRpaid last 24h −0.127%

Price spread now: Aftermath Perps against edgeX−0.536%68s7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Aftermath Perps is 0.536% cheaper against edgeX than usual: you would sell low and buy high (−$54 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 68 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	edgeX CRCLUSDC	95.658	0.0287	pay 0.0144% / 4h	50m 07s	$55K	$278K	10x
Short	Aftermath Perps CRCLUSD	95.146	0.0038	get 0.0005% / 1h	50m 07s	$2K	$29K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against edgeX. 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 edgeXbpFee Aftermath PerpsbpOrdersPrice spread, now −0.536%Rate

Funding earned: −$52.37
Price spread: −0.536% → 0.000%: −$53.58
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$123.95
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 56 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 edgeX live order book, 56 min ago	6.46 bp	11.6 bp −$12	24.1 bp −$241	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 exchanges

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	−0.0024%	1h	95.490	−0.176%	$871K	$805K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	95.390	−0.280%	$15.7M	$28.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	95.671	+0.014%	$425K	$228K	10x	as long as short
Bitget CRCLUSDT	0.0000%	8h	95.360	−0.312%	$19.2M	$39.3M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	95.320	−0.354%	$1.1M	$47K	10x	as long as short
QFEX CRCL-USD	+0.0014%	1h	95.610	−0.050%	$1.4M	$1.7M	10x	as long as short
Gate CRCL_USDT	+0.0028%	8h	95.510	−0.155%	$7.7M	$26.4M	50x	as long as short
Injective CRCL/USDC PERP	+0.0033%	1h	95.630	−0.029%	$39K	$172K	30x	as long as short
Aftermath Perps CRCLUSDshort	+0.0038%	1h	95.146	−0.536%	$2K	$29K	5x
Lighter RH CRCL	+0.0040%	1h	95.389	−0.281%	$1.0M	$2.6M	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest CRCL-USD-PERP	+0.0046%	1h	95.690	+0.033%	—	$29K	25x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	95.601	−0.060%	$69.5M	$44.2M	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	95.470	−0.197%	$1.1M	$4.3M	10x	as long as short
Arcus CRCL-USD	+0.0057%	1h	95.620	−0.040%	$96K	$233K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	95.625	−0.034%	$142K	$149K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	95.380	−0.291%	$2.5M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	95.850	+0.200%	$98K	$26K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	95.440	−0.228%	$752	$2K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0103%	8h	95.600	−0.061%	$440	$477	5x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	95.562	−0.101%	$4	—	10x	as long as short
Phoenix CRCL	+0.0136%	1h	95.413	−0.256%	$28K	$94K	10x	as long as short
Variational Omni CRCL	+0.0157%	8h	95.650	−0.009%	$2.7M	$3.3M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0209%	8h	95.370	−0.301%	$23.6M	$67.0M	50x	as long as short
Extended CRCL_24_5-USD	+0.0256%	1h	95.467	−0.200%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0260%	8h	95.380	−0.291%	$111.9M	$392.1M	50x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0274%	1h	95.420	−0.249%	$5K	$415K	10x	as long as short
Aster CRCLUSDT	+0.0277%	8h	95.345	−0.328%	$1.2M	$4.7M	20x	as long as short
edgeX CRCLUSDClong	+0.0287%	4h	95.658	long leg	$55K	$278K	10x
GRVT CRCL_USDT_Perp	+0.0324%	8h	95.670	+0.012%	$66K	$1.0M	10x	as long as short
Nado CRCL-PERP	+0.0357%	1h	95.607	−0.053%	$153K	$93K	3x	as long as short
BloFin CRCL-USDT	+0.0375%	8h	95.540	−0.124%	$1.1M	$1.8M	20x	as long as short
Polymarket Perps CRCL-USD	+0.0393%	1h	95.700	+0.044%	$284K	$1.1M	10x	as long as short
Lighter CRCL	+0.0424%	1h	95.521	−0.143%	$3.3M	$2.4M	10x	as long as short
SoDEX CRCL-USD	+0.2373%	1h	95.462	−0.205%	$48K	$3K	10x	as long as short