Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0001%/8h= −0.2% APRpaid last 24h +0.060%

Price spread now: BloFin against tradeXYZ+0.008%68s7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$330.333% of the position

Long on tradeXYZ Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.323%+$32 on $10k

Price spread, last 4 days (all we have)+0.015%+$1 · spread now +0.008%, 7d avg +0.035%

Together, before fees+0.338%+ Points / potential airdroptradeXYZ: Active · farm board+$34 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BloFin is 0.027% cheaper against tradeXYZ than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.035%. 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	tradeXYZ xyz:CRCL	91.803	0.0050	pay 0.0006% / 1h	39m 52s	$68.2M	$41.8M	10x
Short	BloFin CRCL-USDT	91.810	0.0049	get 0.0049% / 8h	3h 39m	$1.1M	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against tradeXYZ. 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 tradeXYZbpFee BloFinbpOrdersPrice spread, now +0.008%Rate

Funding earned: −$0.31
Price spread: +0.008% → +0.035%: −$2.73
Slippage, 4 orders: −$3.27
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$36.31
Costs to cover: 0.333%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 10 min ago; BloFin: live order book, 3 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 tradeXYZ live order book, 10 min ago	0.60 bp	9.7 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	0.54 bp	6.5 bp −$7	9.0 bp −$90	28.9 bp −$2,889	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	−0.0707%	8h	91.940	+0.149%	$16.8M	$35.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.610	−0.210%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.880	+0.084%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.960	+0.171%	$7.3M	$27.3M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.849	+0.050%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.820	+0.019%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0005%	8h	91.840	+0.041%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0013%	8h	91.887	+0.091%	$104.7M	$391.3M	50x	as long as short
Extended CRCL_24_5-USD	+0.0016%	1h	91.858	+0.060%	$1.2M	$5.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.861	+0.063%	$2K	$25K	5x	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	+0.0040%	1h	91.860	+0.062%	$973K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.850	+0.051%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.890	+0.095%	$907K	$510K	10x	as long as short
BloFin CRCL-USDTshort	+0.0049%	8h	91.810	+0.008%	$1.1M	$1.6M	20x
tradeXYZ xyz:CRCLlong	+0.0050%	1h	91.803	long leg	$68.2M	$41.8M	10x
Polymarket Perps CRCL-USD	+0.0050%	1h	91.840	+0.040%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.833	+0.033%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.680	−0.134%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.860	+0.062%	$1.3M	$1.9M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0072%	8h	91.949	+0.159%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0077%	8h	91.900	+0.106%	$22.3M	$61.6M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.886	+0.090%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.830	+0.029%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.920	+0.127%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.790	−0.014%	$915	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.845	+0.046%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.878	+0.082%	$418K	$299K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0129%	8h	91.815	+0.013%	$422	$905	5x	as long as short
Phoenix CRCL	+0.0182%	1h	91.905	+0.111%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0312%	1h	91.864	+0.066%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0367%	1h	91.746	−0.062%	$134K	$106K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.607%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0501%	4h	91.963	+0.175%	$51K	$275K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.1058%	1h	91.870	+0.073%	$4K	$768K	10x	as long as short