Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0908%/8h= −99.4% APRpaid last 24h +0.010%

Price spread now: Bitget against Extended+0.105%7-day average +0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$290.295% of the position

Long on Extended Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 7 days−0.068%−$7 · spread now +0.105%, 7d avg +0.074%

Together, before fees+0.001%+ Points / potential airdropExtended: Active · farm board$0 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.031% dearer against Extended than usual: you sell high and buy low (spread +0.105% now, against its 7-day average of +0.074%): +$3 on $10k if it goes back. Holding the pair costs −$27 a day in funding at the current rate, which eats that in about 3 hours. Mind the row above: over the last 7 days funding on this pair paid +0.069%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.069% in total (about 3.6% 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	Extended CRCL_24_5-USD	91.584	0.0064	pay 0.0008% / 1h	4m 13s	$1.0M	$5.7M	10x
Short	Bitget CRCLUSDT	91.680	−0.0844	pay 0.0844% / 8h	2h 04m	$17.5M	$37.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Extended. 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 ExtendedbpFee BitgetbpOrdersPrice spread, now +0.105%Rate

Funding earned: −$190.68
Price spread: +0.105% → +0.074%: $3.12
Slippage, 4 orders: −$12.47
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$217.03
Costs to cover: 0.295%
Break-even: never at this rate

Slippage from Extended: live order book, 5 min ago; Bitget: live order book, 5 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 Extended live order book, 5 min ago	0.49 bp	5.2 bp −$5	26.7 bp −$267	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	1.63 bp	9.4 bp −$9	14.9 bp −$149	55.8 bp −$5,576	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 CRCLUSDTshort	−0.0844%	8h	91.680	+0.105%	$17.5M	$37.1M	25x
Vest CRCL-USD-PERP	−0.0082%	1h	91.390	−0.212%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.600	+0.018%	$14.7M	$26.8M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.660	+0.083%	$7.7M	$27.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.719	+0.147%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.650	+0.072%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.609	+0.027%	$977K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	91.546	−0.042%	$2K	$27K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.610	+0.029%	$93K	$289K	10x	as long as short
Aster CRCLUSDT	+0.0048%	8h	91.540	−0.048%	$1.0M	$5.1M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX CRCL-USD	+0.0050%	1h	91.568	−0.017%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.630	+0.050%	$1.1M	$5.2M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	91.640	+0.061%	$1.3M	$1.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0060%	1h	91.610	+0.029%	$384K	$1.3M	10x	as long as short
Binance CRCLUSDT	+0.0063%	8h	91.600	+0.018%	$104.6M	$397.6M	50x	as long as short
Extended CRCL_24_5-USDlong	+0.0064%	1h	91.584	long leg	$1.0M	$5.7M	10x
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	91.590	+0.007%	$892K	$606K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0078%	1h	91.577	−0.008%	$67.8M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.620	+0.039%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.610	+0.029%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.570	−0.015%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.620	+0.039%	$913	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.613	+0.032%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	91.670	+0.094%	$417K	$277K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0147%	8h	91.730	+0.160%	$65K	$1.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0151%	8h	91.661	+0.084%	$422	$905	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0157%	8h	91.620	+0.039%	$22.3M	$62.7M	50x	as long as short
BloFin CRCL-USDT	+0.0179%	8h	91.700	+0.127%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0210%	1h	91.654	+0.077%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0272%	1h	91.615	+0.034%	$2.9M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0341%	1h	91.526	−0.063%	$133K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.150	+0.618%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0515%	1h	91.590	+0.007%	$5K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0609%	4h	91.726	+0.155%	$52K	$277K	10x	as long as short