Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0076%/8h= +8.4% APRpaid last 24h +0.010%

Price spread now: OKX against Extended+0.026%7-day average +0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$250.251% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 7 days+0.033%+$3 · spread now +0.026%, 7d avg +0.056%

Together, before fees+0.003%+ Points / potential airdropExtended: Active · farm board$0 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.030% cheaper against Extended than usual: you would sell low and buy high (spread +0.026% now, against its 7-day average of +0.056%). If the spread goes back, that is −$3 on $10k: about 32 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended CRCL_24_5-USD	91.736	0.0024	pay 0.0003% / 1h	3m 31s	$1.2M	$5.6M	10x
Short	OKX CRCL-USDT-SWAP	91.760	0.0100	get 0.0100% / 8h	3h 03m	$22.3M	$61.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.026%Rate

Funding earned: $16.06
Price spread: +0.026% → +0.056%: −$3.02
Slippage, 4 orders: −$10.09
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$12.05
Costs to cover: 0.251%
Break-even: 12.3 days

Slippage from Extended: live order book, 5 min ago; OKX: 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	0.82 bp	5.6 bp −$6	49.8 bp −$498	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.55 bp	6.7 bp −$7	12.6 bp −$126	141.6 bp −$14.2K	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	−0.0669%	8h	91.810	+0.081%	$16.6M	$35.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0062%	1h	91.550	−0.203%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.740	+0.004%	$14.7M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.760	+0.026%	$7.4M	$27.6M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.949	+0.232%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.890	+0.168%	$1.0M	$48K	10x	as long as short
edgeX CRCLUSDC	+0.0016%	4h	91.911	+0.191%	$51K	$276K	10x	as long as short
Aster CRCLUSDT	+0.0017%	8h	91.827	+0.099%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USDlong	+0.0024%	1h	91.736	long leg	$1.2M	$5.6M	10x
Binance CRCLUSDT	+0.0026%	8h	91.760	+0.026%	$104.6M	$392.9M	50x	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	+0.0032%	1h	91.804	+0.074%	$973K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.866	+0.141%	$2K	$26K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.830	+0.102%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.770	+0.037%	$914K	$522K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.700	−0.039%	$68.0M	$42.3M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.744	+0.009%	$385K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.828	+0.100%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.890	+0.168%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.760	+0.026%	$1.3M	$1.8M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0081%	8h	91.768	+0.035%	$422	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0089%	8h	91.920	+0.200%	$70K	$1.1M	10x	as long as short
BloFin CRCL-USDT	+0.0096%	8h	91.920	+0.200%	$1.1M	$1.6M	20x	as long as short
Pacifica CRCL	+0.0100%	1h	91.756	+0.022%	$136K	$160K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.820	+0.091%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.800	+0.070%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.830	+0.102%	$916	$2K	10x	as long as short
OKX CRCL-USDT-SWAPshort	+0.0100%	8h	91.760	+0.026%	$22.3M	$61.8M	50x
Aevo CRCL-PERP	+0.0104%	1h	91.844	+0.118%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.760	+0.026%	$418K	$299K	10x	as long as short
Phoenix CRCL	+0.0182%	1h	91.893	+0.171%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0256%	1h	91.760	+0.026%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0350%	1h	91.714	−0.024%	$133K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.680%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0840%	1h	91.840	+0.113%	$4K	$768K	10x	as long as short