Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0114%/8h= −12.5% APRpaid last 24h −0.020%

Price spread now: Aftermath Perps against OKX−0.049%54s7-day average — · you buy dearer than you sell

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

Long on OKX 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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Aftermath Perps is 0.049% cheaper against OKX than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 54 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	OKX CRCL-USDT-SWAP	94.280	0.0157	pay 0.0157% / 8h	7h 35m	$22.8M	$60.1M	50x
Short	Aftermath Perps CRCLUSD	94.233	0.0043	get 0.0005% / 1h	35m 32s	$2K	$22K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against OKX. 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 OKXbpFee Aftermath PerpsbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$23.94
Price spread: −0.049% → 0.000%: −$4.93
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$47.88
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 3 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 OKX live order book, 3 min ago	0.53 bp	7.5 bp −$8	13.6 bp −$136	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
Coinbase International CRCL-PERP-INTX	−0.0064%	1h	94.100	−0.191%	$941K	$619K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.340	+0.064%	$7.2M	$27.0M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.341	+0.065%	$68K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.300	+0.021%	$1.0M	$51K	10x	as long as short
Bybit CRCLUSDT	+0.0020%	8h	94.290	+0.011%	$15.5M	$25.8M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.327	+0.050%	$891K	$2.8M	10x	as long as short
QFEX CRCL-USD	+0.0042%	1h	94.300	+0.021%	$1.4M	$2.6M	10x	as long as short
Aftermath Perps CRCLUSDshort	+0.0043%	1h	94.233	−0.049%	$2K	$22K	5x
Vest CRCL-USD-PERP	+0.0046%	1h	94.190	−0.095%	—	$37K	25x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	94.256	−0.025%	$71.7M	$42.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps CRCL-USD	+0.0050%	1h	94.254	−0.028%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.323	+0.046%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.210	−0.074%	$1.1M	$5.8M	10x	as long as short
Bitget CRCLUSDT	+0.0059%	8h	94.370	+0.095%	$17.0M	$34.9M	25x	as long as short
Pacifica CRCL	+0.0100%	1h	94.293	+0.014%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.360	+0.085%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.230	−0.053%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.340	+0.064%	$941	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.341	+0.064%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0109%	8h	94.326	+0.048%	$773	$740	5x	as long as short
Variational Omni CRCL	+0.0137%	8h	94.330	+0.053%	$2.5M	$3.1M	—	as long as short
OKX CRCL-USDT-SWAPlong	+0.0157%	8h	94.280	long leg	$22.8M	$60.1M	50x
Extended CRCL_24_5-USD	+0.0200%	1h	94.294	+0.015%	$1.1M	$5.4M	10x	as long as short
Binance CRCLUSDT	+0.0203%	8h	94.297	+0.018%	$109.2M	$387.3M	50x	as long as short
Aster CRCLUSDT	+0.0208%	8h	94.342	+0.066%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0229%	1h	94.240	−0.043%	$132K	$76K	3x	as long as short
Phoenix CRCL	+0.0296%	1h	94.307	+0.029%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0296%	1h	94.327	+0.050%	$3.0M	$2.2M	10x	as long as short
BloFin CRCL-USDT	+0.0324%	8h	94.310	+0.032%	$1.1M	$560K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.730	+0.477%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0464%	4h	94.309	+0.030%	$24K	$268K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0493%	1h	94.340	+0.064%	$4K	$771K	10x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.280	0.000%	$96K	$276K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	94.304	+0.025%	$430K	$299K	10x	as long as short