Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0042%/8h= +4.6% APRpaid last 24h −0.017%

Price spread now: Aftermath Perps against Gate−0.142%7-day average — · you buy dearer than you sell

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

Long on Gate 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

Funding pays, the price is against you. Aftermath Perps is 0.142% cheaper against Gate than usual: you would sell low and buy high (spread −0.142% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 11 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CRCL_USDT	94.370	0	get 0.0000% / 8h	2h 28m	$7.2M	$27.7M	50x
Short	Aftermath Perps CRCLUSD	94.236	0.0042	get 0.0005% / 1h	28m 48s	$2K	$19K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Gate. 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 GatebpFee Aftermath PerpsbpOrdersPrice spread, now −0.142%Rate

Funding earned: $8.86
Price spread: −0.142% → 0.000%: −$14.17
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$29.31
Costs to cover: 0.240%
Break-even: 30.2 days

Slippage unknown: Gate: live order book, 5 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 Gate live order book, 5 min ago	1.06 bp	14.7 bp −$15	24.3 bp −$243	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
Extended CRCL_24_5-USD	0.0000%	1h	94.349	−0.022%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	94.370	0.000%	$108.4M	$389.3M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	94.302	−0.072%	$430K	$310K	10x	as long as short
Gate CRCL_USDTlong	0.0000%	8h	94.370	long leg	$7.2M	$27.7M	50x
Variational Omni CRCL	0.0000%	8h	94.261	−0.116%	$2.5M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.250	−0.127%	$50K	$1.2M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.300	−0.074%	$1.0M	$50K	10x	as long as short
QFEX CRCL-USD	+0.0020%	1h	94.300	−0.074%	$1.4M	$2.7M	10x	as long as short
Aster CRCLUSDT	+0.0021%	8h	94.323	−0.050%	$1.1M	$4.8M	20x	as long as short
Bybit CRCLUSDT	+0.0024%	8h	94.360	−0.011%	$15.5M	$25.9M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	94.353	−0.018%	$878K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSDshort	+0.0042%	1h	94.236	−0.142%	$2K	$19K	5x
Vest CRCL-USD-PERP	+0.0046%	1h	94.190	−0.191%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.209	−0.171%	$355K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.313	−0.060%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.160	−0.223%	$1.1M	$5.9M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0060%	1h	94.272	−0.104%	$70.8M	$42.8M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0087%	8h	94.241	−0.136%	$716	$428	5x	as long as short
Pacifica CRCL	+0.0100%	1h	94.250	−0.127%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.240	−0.138%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.210	−0.170%	$69K	$5K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.290	−0.085%	$940	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.304	−0.070%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	94.330	−0.042%	$1.1M	$588K	20x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0144%	1h	94.000	−0.392%	$935K	$739K	10x	as long as short
Nado CRCL-PERP	+0.0191%	1h	94.157	−0.225%	$126K	$73K	3x	as long as short
edgeX CRCLUSDC	+0.0196%	4h	94.232	−0.146%	$24K	$268K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0225%	8h	94.420	+0.053%	$22.8M	$60.7M	50x	as long as short
Phoenix CRCL	+0.0228%	1h	94.212	−0.167%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0248%	1h	94.381	+0.012%	$3.1M	$2.4M	10x	as long as short
Bitget CRCLUSDT	+0.0332%	8h	94.430	+0.064%	$16.8M	$35.2M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.770	+0.424%	$5K	$20K	30x	as long as short
Arcus CRCL-USD	+0.0560%	1h	94.210	−0.170%	$97K	$271K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.1023%	1h	94.400	+0.032%	$4K	$771K	10x	as long as short