Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0187%/8h= +20.4% APRpaid last 24h +0.130%

Price spread now: edgeX against Aftermath Perps+0.038%7-day average — · you sell dearer than you buy

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

Long on Aftermath Perps Short on edgeX

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—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and edgeX is 0.038% dearer against Aftermath Perps than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps CRCLUSD	91.900	0.0039	pay 0.0005% / 1h	16m 52s	$2K	$25K	5x
Short	edgeX CRCLUSDC	91.934	0.0226	get 0.0113% / 4h	3h 16m	$51K	$276K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Aftermath Perps. 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 Aftermath PerpsbpFee edgeXbpOrdersPrice spread, now +0.038%Rate

Funding earned: $39.17
Price spread: +0.038% → 0.000%: $3.77
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $24.94
Costs to cover: 0.180%
Break-even: 2.5 days

Slippage unknown: Aftermath Perps: no order-book sample; edgeX: live order book, 36 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell edgeX live order book, 36 min ago	5.97 bp	11.5 bp −$12	23.9 bp −$239	doesn't fit	doesn't fit

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 CRCLUSDT	−0.0688%	8h	91.960	+0.066%	$16.6M	$35.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0061%	1h	91.690	−0.228%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.880	−0.021%	$14.8M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.970	+0.076%	$7.3M	$27.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.999	+0.108%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.960	+0.066%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0016%	8h	91.957	+0.063%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.894	−0.006%	$1.2M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0025%	8h	91.890	−0.011%	$104.7M	$392.5M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.976	+0.083%	$975K	$2.9M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps CRCLUSDlong	+0.0039%	1h	91.900	long leg	$2K	$25K	5x
Arcus CRCL-USD	+0.0040%	1h	91.870	−0.032%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.770	−0.141%	$911K	$519K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.869	−0.033%	$68.3M	$42.0M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.928	+0.031%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.934	+0.037%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.840	−0.065%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.940	+0.044%	$1.3M	$1.9M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0069%	8h	91.939	+0.043%	$423	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0087%	8h	92.030	+0.142%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0097%	8h	91.890	−0.011%	$22.3M	$61.8M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.948	+0.052%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.910	+0.011%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.830	−0.076%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.950	+0.055%	$917	$2K	10x	as long as short
BloFin CRCL-USDT	+0.0102%	8h	91.930	+0.033%	$1.1M	$1.6M	20x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.964	+0.070%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.975	+0.082%	$419K	$299K	10x	as long as short
Phoenix CRCL	+0.0182%	1h	91.770	−0.141%	$27K	$82K	10x	as long as short
edgeX CRCLUSDCshort	+0.0226%	4h	91.934	+0.038%	$51K	$276K	10x
Lighter CRCL	+0.0272%	1h	92.011	+0.121%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0357%	1h	91.925	+0.028%	$134K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.501%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0730%	1h	91.950	+0.055%	$4K	$768K	10x	as long as short