Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0192%/8h= +21.0% APRpaid last 24h +0.029%

Price spread now: OKX against ApeX Omni+0.143%7-day average — · you sell dearer than you buy

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

Long on ApeX Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and OKX is 0.143% dearer against ApeX Omni than usual: you sell high and buy low: +$14 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.062% in total (about 3.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni CRCLUSDT	91.170	0.0100	pay 0.0013% / 1h	3m 20s	$67K	$4K	50x
Short	OKX CRCL-USDT-SWAP	91.300	0.0292	get 0.0292% / 8h	3m 20s	$22.3M	$61.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against ApeX Omni. 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 ApeX OmnibpFee OKXbpOrdersPrice spread, now +0.143%Rate

Funding earned: $40.3
Price spread: +0.143% → 0.000%: $14.26
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $34.56
Costs to cover: 0.200%
Break-even: 1.0 days

Slippage unknown: ApeX Omni: no order-book sample; OKX: live order book, 5 min ago. 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 ApeX Omni no order-book sample	—	—	—	—	—
Sell OKX live order book, 5 min ago	0.55 bp	7.7 bp −$8	13.7 bp −$137	117.3 bp −$11.7K	doesn't fit

ApeX Omni: 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
Bitget CRCLUSDT	−0.0340%	8h	91.370	+0.219%	$17.3M	$36.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0085%	1h	90.990	−0.197%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.330	+0.175%	$7.8M	$28.0M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.300	+0.143%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.335	+0.181%	$984K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.240	+0.077%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.230	+0.066%	$95K	$296K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.280	+0.121%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.210	+0.044%	$1.1M	$4.8M	10x	as long as short
Bybit CRCLUSDT	+0.0065%	8h	91.310	+0.154%	$14.8M	$26.5M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.290	+0.132%	$1.3M	$1.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.070	−0.110%	$871K	$500K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0092%	1h	91.238	+0.075%	$67.3M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.280	+0.121%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.280	+0.121%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDTlong	+0.0100%	1h	91.170	long leg	$67K	$4K	50x
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.290	+0.132%	$910	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.308	+0.151%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0132%	8h	91.253	+0.091%	$2.4M	$3.3M	—	as long as short
Polymarket Perps CRCL-USD	+0.0154%	1h	91.280	+0.121%	$377K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0162%	8h	91.299	+0.141%	$420	$905	5x	as long as short
Aster CRCLUSDT	+0.0202%	8h	91.333	+0.179%	$1.0M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0216%	1h	91.288	+0.129%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0217%	8h	91.300	+0.143%	$104.9M	$389.3M	50x	as long as short
Phoenix CRCL	+0.0227%	1h	91.260	+0.099%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0251%	8h	91.227	+0.062%	$70K	$1.1M	10x	as long as short
Lighter CRCL	+0.0264%	1h	91.314	+0.158%	$2.9M	$2.4M	10x	as long as short
OKX CRCL-USDT-SWAPshort	+0.0292%	8h	91.300	+0.143%	$22.3M	$61.7M	50x
BloFin CRCL-USDT	+0.0337%	8h	91.330	+0.175%	$1.1M	$1.7M	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.750	+0.636%	$5K	$19K	30x	as long as short
Nado CRCL-PERP	+0.0441%	1h	91.222	+0.057%	$134K	$109K	3x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.328	+0.174%	$412K	$260K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0627%	1h	91.300	+0.143%	$5K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0907%	4h	91.195	+0.028%	$52K	$270K	10x	as long as short