Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.022%

Price spread now: Bybit against Extended+0.061%7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$310.307% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 7 days+0.059%+$6 · spread now +0.061%, 7d avg +0.076%

Together, before fees+0.039%+ Points / potential airdropExtended: Active · farm board+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended CRCL_24_5-USD	91.654	0	get 0.0000% / 1h	32m 00s	$1.1M	$5.7M	10x
Short	Bybit CRCLUSDT	91.710	0	get 0.0000% / 8h	5h 32m	$15.0M	$25.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now +0.061%Rate

Funding earned: $0
Price spread: +0.061% → +0.076%: −$1.52
Slippage, 4 orders: −$14.65
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$32.18
Costs to cover: 0.307%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; Bybit: live order book, 2 min ago.

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 Extended live order book, 2 min ago	0.55 bp	5.8 bp −$6	38.5 bp −$385	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.55 bp	10.6 bp −$11	18.9 bp −$189	doesn't fit	doesn't fit

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 CRCLUSDT	−0.1324%	8h	91.690	+0.039%	$15.8M	$34.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0076%	1h	91.380	−0.299%	—	$35K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.450	−0.223%	$902K	$527K	10x	as long as short
Extended CRCL_24_5-USDlong	0.0000%	1h	91.654	long leg	$1.1M	$5.7M	10x
Binance CRCLUSDT	0.0000%	8h	91.693	+0.043%	$104.4M	$384.6M	50x	as long as short
Bybit CRCLUSDTshort	0.0000%	8h	91.710	+0.061%	$15.0M	$25.7M	50x
RISEx CRCL/USDC	0.0000%	1h	91.581	−0.080%	$418K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.720	+0.072%	$7.1M	$26.6M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.607	−0.051%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.646	−0.009%	$65K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.590	−0.070%	$1.0M	$49K	10x	as long as short
Aster CRCLUSDT	+0.0005%	8h	91.667	+0.014%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0011%	8h	91.740	+0.094%	$21.5M	$59.4M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0020%	1h	91.568	−0.094%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.560	−0.103%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.664	+0.011%	$973K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.550	−0.113%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.608	−0.050%	$68.5M	$41.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.587	−0.073%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.590	−0.070%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.520	−0.146%	$996K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0066%	8h	91.603	−0.055%	$751	$740	5x	as long as short
BloFin CRCL-USDT	+0.0067%	8h	91.600	−0.059%	$1.1M	$1.3M	20x	as long as short
Pacifica CRCL	+0.0100%	1h	91.573	−0.088%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.650	−0.004%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.610	−0.048%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.600	−0.059%	$913	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.588	−0.072%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0173%	1h	91.576	−0.085%	$130K	$104K	3x	as long as short
Phoenix CRCL	+0.0183%	1h	91.608	−0.050%	$27K	$84K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0187%	1h	91.610	−0.048%	$4K	$767K	10x	as long as short
Lighter CRCL	+0.0192%	1h	91.653	−0.001%	$3.0M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.200	+0.596%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0952%	4h	91.606	−0.052%	$23K	$267K	10x	as long as short