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: ApeX Omni against OKX−0.153%110s7-day average — · you buy dearer than you sell

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

Long on OKX Short on ApeX Omni

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 against this trade now: funding costs −$6 a day on $10k at the current rate, and ApeX Omni is 0.153% cheaper against OKX than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 110 seconds apart, so part of this spread may be the market moving, not a spread.

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	OKX CRCL-USDT-SWAP	91.310	0.0292	pay 0.0292% / 8h	3m 35s	$22.3M	$61.7M	50x
Short	ApeX Omni CRCLUSDT	91.170	0.0100	get 0.0013% / 1h	3m 35s	$67K	$4K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now −0.153%Rate

Funding earned: −$40.3
Price spread: −0.153% → 0.000%: −$15.33
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$75.63
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 5 min ago; ApeX Omni: 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 OKX live order book, 5 min ago	0.55 bp	6.7 bp −$7	13.1 bp −$131	doesn't fit	doesn't fit
Sell ApeX Omni no order-book sample	—	—	—	—	—

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	+0.066%	$17.3M	$36.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0085%	1h	90.980	−0.361%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.340	+0.033%	$7.8M	$28.0M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.300	−0.011%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.335	+0.027%	$984K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.260	−0.055%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.230	−0.088%	$95K	$296K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.280	−0.033%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.210	−0.110%	$1.1M	$4.8M	10x	as long as short
Bybit CRCLUSDT	+0.0065%	8h	91.330	+0.022%	$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	−0.022%	$1.3M	$1.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.070	−0.263%	$871K	$500K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0091%	1h	91.247	−0.069%	$67.3M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.280	−0.033%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.280	−0.033%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDTshort	+0.0100%	1h	91.170	−0.153%	$67K	$4K	50x
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.260	−0.055%	$910	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.306	−0.005%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0132%	8h	91.253	−0.063%	$2.4M	$3.3M	—	as long as short
Polymarket Perps CRCL-USD	+0.0154%	1h	91.276	−0.037%	$377K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0162%	8h	91.299	−0.013%	$420	$905	5x	as long as short
Aster CRCLUSDT	+0.0202%	8h	91.332	+0.024%	$1.0M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0216%	1h	91.298	−0.013%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0217%	8h	91.320	+0.011%	$104.9M	$389.2M	50x	as long as short
Phoenix CRCL	+0.0227%	1h	91.260	−0.055%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0251%	8h	91.227	−0.091%	$70K	$1.1M	10x	as long as short
Lighter CRCL	+0.0264%	1h	91.322	+0.013%	$2.9M	$2.4M	10x	as long as short
OKX CRCL-USDT-SWAPlong	+0.0292%	8h	91.310	long leg	$22.3M	$61.7M	50x
BloFin CRCL-USDT	+0.0333%	8h	91.320	+0.011%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0438%	1h	91.172	−0.151%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.740	+0.471%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.328	+0.020%	$412K	$260K	10x	as long as short
edgeX CRCLUSDC	+0.0907%	4h	91.195	−0.126%	$52K	$270K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0957%	1h	91.280	−0.033%	$5K	$769K	10x	as long as short