Funding you earn now, next payment 00:00 UTC−0.0258%/8h= −28.2% APRnext payment −$0.32 per $10,000 · paid last 24h −0.017%
Price spread now: Aftermath Perps against Phoenix−0.224%63s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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 −$8 a day on $10k at the current rate, and Aftermath Perps is 0.224% cheaper against Phoenix than usual: you would sell low and buy high (−$22 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 63 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 | Phoenix CRCL | 94.311 | 0.0296 | pay 0.0037% / 1h | 6m 16s | $28K | $92K | 10x |
| Short | Aftermath Perps CRCLUSD | 94.100 | 0.0038 | get 0.0005% / 1h | 6m 16s | $2K | $22K | 5x |
Phoenix CRCL
Aftermath Perps CRCLUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Aftermath Perps against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$54.08
- Price spread: −0.224% → 0.000%
- −$22.42
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Aftermath Perps: 4.5 bp × 2 orders
- −$9
- Net
- −$92.49
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Aftermath Perps no order-book sample | — | — | — | — | — |
Phoenix and 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 | 94.000 | −0.330% | $940K | $620K | 10x | as long as short |
| Bybit CRCLUSDT | 0.0000% | 8h | 93.980 | −0.351% | $15.4M | $25.4M | 50x | as long as short |
| Gate CRCL_USDT | 0.0000% | 8h | 94.040 | −0.287% | $7.2M | $27.1M | 50x | as long as short |
| Bitget CRCLUSDT | 0.0000% | 8h | 93.990 | −0.340% | $16.8M | $34.4M | 25x | as long as short |
| Phemex CRCLUSDT | 0.0000% | 4h | 94.000 | −0.330% | $1.0M | $49K | 10x | as long as short |
| Lighter RH CRCL | +0.0032% | 1h | 93.959 | −0.373% | $885K | $2.8M | 10x | as long as short |
| GRVT CRCL_USDT_Perp | +0.0035% | 8h | 94.270 | −0.043% | $62K | $1.1M | 10x | as long as short |
| Aftermath Perps CRCLUSDshort | +0.0038% | 1h | 94.100 | −0.224% | $2K | $22K | 5x | |
| QFEX CRCL-USD | +0.0042% | 1h | 93.980 | −0.351% | $1.4M | $2.5M | 10x | as long as short |
| Vest CRCL-USD-PERP | +0.0046% | 1h | 93.860 | −0.478% | — | $37K | 25x | as long as short |
Coinbase International CRCL-PERP-INTX
Bybit CRCLUSDT
Gate CRCL_USDT
Bitget CRCLUSDT
Phemex CRCLUSDT
Lighter RH CRCL
GRVT CRCL_USDT_Perp
QFEX CRCL-USD
Vest CRCL-USD-PERPShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:CRCL | +0.0050% | 1h | 93.892 | −0.444% | $71.5M | $40.5M | 10x | as long as short |
| Polymarket Perps CRCL-USD | +0.0050% | 1h | 93.910 | −0.425% | $364K | $1.1M | 10x | as long as short |
| SoDEX CRCL-USD | +0.0050% | 1h | 93.974 | −0.357% | $47K | $3K | 10x | as long as short |
| Ondo Perps CRCL-USD.P | +0.0050% | 1h | 93.880 | −0.457% | $1.1M | $5.7M | 10x | as long as short |
| Variational Omni CRCL | +0.0078% | 8h | 93.978 | −0.353% | $2.5M | $3.1M | — | as long as short |
| Paradex CRCL-USD-PERP | +0.0099% | 8h | 94.001 | −0.329% | $771 | $740 | 5x | as long as short |
| Pacifica CRCL | +0.0100% | 1h | 94.000 | −0.330% | $75K | $96K | 10x | as long as short |
| KuCoin CRCLUSDTM | +0.0100% | 8h | 94.040 | −0.287% | $3.0M | $1.9M | 20x | as long as short |
| ApeX Omni CRCLUSDT | +0.0100% | 1h | 94.140 | −0.181% | $69K | $4K | 50x | as long as short |
| Orderly PERP_CRCL_USDC_mythos | +0.0100% | 8h | 94.010 | −0.319% | $937 | $3K | 10x | as long as short |
| Aevo CRCL-PERP | +0.0104% | 1h | 93.959 | −0.373% | $4 | — | 10x | as long as short |
| OKX CRCL-USDT-SWAP | +0.0129% | 8h | 93.980 | −0.351% | $22.7M | $58.9M | 50x | as long as short |
| Extended CRCL_24_5-USD | +0.0160% | 1h | 93.967 | −0.365% | $1.1M | $5.7M | 10x | as long as short |
| Binance CRCLUSDT | +0.0163% | 8h | 93.992 | −0.338% | $108.9M | $385.0M | 50x | as long as short |
| Aster CRCLUSDT | +0.0167% | 8h | 94.020 | −0.308% | $1.1M | $4.9M | 20x | as long as short |
| Nado CRCL-PERP | +0.0228% | 1h | 93.923 | −0.411% | $131K | $76K | 3x | as long as short |
| BloFin CRCL-USDT | +0.0284% | 8h | 94.070 | −0.256% | $1.1M | $576K | 20x | as long as short |
| Phoenix CRCLlong | +0.0296% | 1h | 94.311 | long leg | $28K | $92K | 10x | |
| Lighter CRCL | +0.0328% | 1h | 93.974 | −0.357% | $3.0M | $2.3M | 10x | as long as short |
| Injective CRCL/USDC PERP | +0.0440% | 1h | 94.670 | +0.381% | $5K | $19K | 30x | as long as short |
| Deribit CRCL_USDC-PERPETUAL | +0.0496% | 1h | 93.920 | −0.415% | $4K | $769K | 10x | as long as short |
| edgeX CRCLUSDC | +0.0507% | 4h | 94.232 | −0.084% | $24K | $267K | 10x | as long as short |
| Arcus CRCL-USD | +0.0521% | 1h | 94.150 | −0.171% | $96K | $271K | 10x | as long as short |
| RISEx CRCL/USDC | +0.0677% | 1h | 94.000 | −0.330% | $428K | $297K | 10x | as long as short |
tradeXYZ xyz:CRCL
Polymarket Perps CRCL-USD
SoDEX CRCL-USD
Ondo Perps CRCL-USD.P
Variational Omni CRCL
Paradex CRCL-USD-PERP
Pacifica CRCL
KuCoin CRCLUSDTM
ApeX Omni CRCLUSDT
Orderly PERP_CRCL_USDC_mythos
Aevo CRCL-PERP
OKX CRCL-USDT-SWAP
Extended CRCL_24_5-USD
Binance CRCLUSDT
Aster CRCLUSDT
Nado CRCL-PERP
BloFin CRCL-USDT
Lighter CRCL
Injective CRCL/USDC PERP
Deribit CRCL_USDC-PERPETUAL
edgeX CRCLUSDC
Arcus CRCL-USD
RISEx CRCL/USDC