Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0736%/8h= +80.6% APRpaid last 24h −0.017%

Price spread now: Aftermath Perps against Bitget−0.049%7-day average — · you buy dearer than you sell

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

Long on Bitget 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 0.049% cheaper against Bitget than usual: you would sell low and buy high (spread −0.049% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 5 hours of funding at the current rate (+$22 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CRCLUSDT	92.010	−0.0696	get 0.0696% / 8h	3h 46m	$16.8M	$35.5M	25x
Short	Aftermath Perps CRCLUSD	91.965	0.0040	get 0.0005% / 1h	46m 24s	$2K	$25K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Bitget. 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 BitgetbpFee Aftermath PerpsbpOrdersPrice spread, now −0.049%Rate

Funding earned: $154.55
Price spread: −0.049% → 0.000%: −$4.92
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: $128.63
Costs to cover: 0.210%
Break-even: 1.2 days

Slippage unknown: Bitget: 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 Bitget live order book, 3 min ago	1.09 bp	9.8 bp −$10	15.4 bp −$154	32.5 bp −$3,254	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
Bitget CRCLUSDTlong	−0.0696%	8h	92.010	long leg	$16.8M	$35.5M	25x
Vest CRCL-USD-PERP	−0.0068%	1h	91.730	−0.304%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.980	−0.033%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.020	+0.011%	$7.3M	$27.2M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.019	+0.010%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.040	+0.033%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0013%	8h	92.013	+0.003%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0016%	1h	91.924	−0.094%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0018%	8h	91.990	−0.022%	$104.8M	$390.8M	50x	as long as short
Aftermath Perps CRCLUSDshort	+0.0040%	1h	91.965	−0.049%	$2K	$25K	5x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus CRCL-USD	+0.0040%	1h	91.990	−0.022%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.890	−0.130%	$907K	$491K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.909	−0.110%	$68.3M	$41.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.934	−0.083%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.948	−0.067%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.940	−0.076%	$1.0M	$5.2M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.910	−0.109%	$1.3M	$1.9M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0068%	8h	92.019	+0.010%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0070%	8h	91.990	−0.022%	$22.3M	$61.6M	50x	as long as short
BloFin CRCL-USDT	+0.0070%	8h	92.040	+0.033%	$1.1M	$1.3M	20x	as long as short
Lighter RH CRCL	+0.0072%	1h	91.948	−0.067%	$974K	$2.9M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.921	−0.096%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.980	−0.033%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.960	−0.054%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.960	−0.054%	$917	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.986	−0.026%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.965	−0.049%	$418K	$299K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0132%	8h	91.939	−0.077%	$423	$905	5x	as long as short
Phoenix CRCL	+0.0182%	1h	92.006	−0.004%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0296%	1h	91.957	−0.058%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0384%	1h	91.856	−0.167%	$134K	$106K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0402%	1h	92.030	+0.022%	$4K	$768K	10x	as long as short
edgeX CRCLUSDC	+0.0440%	4h	91.999	−0.012%	$51K	$276K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.550	+0.587%	$5K	$19K	30x	as long as short