Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0049%/8h= +5.3% APRpaid last 24h +0.003%

Price spread now: KuCoin against Aftermath Perps−0.103%7-day average — · you buy dearer than you sell

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

Long on Aftermath Perps Short on KuCoin

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. KuCoin is 0.103% cheaper against Aftermath Perps than usual: you would sell low and buy high (spread −0.103% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 7.0 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps CRCLUSD	94.598	0.0051	pay 0.0006% / 1h	12m 55s	$2K	$21K	5x
Short	KuCoin CRCLUSDTM	94.500	0.0100	get 0.0100% / 8h	12m 55s	$3.0M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.103%Rate

Funding earned: $10.25
Price spread: −0.103% → 0.000%: −$10.32
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$21.07
Costs to cover: 0.210%
Break-even: 21.4 days

Slippage unknown: Aftermath Perps: no order-book sample; KuCoin: live order book, 4 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 KuCoin live order book, 4 min ago	1.58 bp	32.5 bp −$33	doesn't fit	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
Gate CRCL_USDT	0.0000%	8h	94.490	−0.114%	$7.2M	$27.8M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.610	+0.013%	$1.0M	$52K	10x	as long as short
QFEX CRCL-USD	+0.0022%	1h	94.530	−0.071%	$1.4M	$2.7M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.567	−0.032%	$893K	$2.9M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	94.510	−0.093%	$940K	$723K	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.520	−0.082%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.532	−0.069%	$366K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.537	−0.064%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.470	−0.135%	$1.1M	$5.9M	10x	as long as short
Aftermath Perps CRCLUSDlong	+0.0051%	1h	94.598	long leg	$2K	$21K	5x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CRCLUSDT	+0.0097%	8h	94.470	−0.135%	$15.5M	$25.9M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	94.540	−0.061%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTMshort	+0.0100%	8h	94.500	−0.103%	$3.0M	$1.9M	20x
ApeX Omni CRCLUSDT	+0.0100%	1h	94.570	−0.029%	$70K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.560	−0.040%	$943	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.578	−0.020%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0114%	8h	94.553	−0.047%	$775	$740	5x	as long as short
tradeXYZ xyz:CRCL	+0.0142%	1h	94.414	−0.194%	$71.5M	$43.6M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0186%	8h	94.510	−0.093%	$22.8M	$60.8M	50x	as long as short
Variational Omni CRCL	+0.0193%	8h	94.671	+0.078%	$2.5M	$3.1M	—	as long as short
Extended CRCL_24_5-USD	+0.0248%	1h	94.433	−0.174%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0249%	8h	94.461	−0.145%	$109.3M	$390.8M	50x	as long as short
Aster CRCLUSDT	+0.0251%	8h	94.523	−0.079%	$1.1M	$4.9M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0251%	8h	94.670	+0.077%	$54K	$1.1M	10x	as long as short
Nado CRCL-PERP	+0.0262%	1h	94.513	−0.090%	$132K	$76K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0279%	1h	94.530	−0.071%	$4K	$772K	10x	as long as short
Phoenix CRCL	+0.0288%	1h	94.530	−0.071%	$28K	$92K	10x	as long as short
Bitget CRCLUSDT	+0.0296%	8h	94.480	−0.124%	$16.9M	$35.5M	25x	as long as short
Lighter CRCL	+0.0320%	1h	94.576	−0.023%	$3.1M	$2.2M	10x	as long as short
BloFin CRCL-USDT	+0.0369%	8h	94.530	−0.071%	$1.1M	$599K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.560	+1.017%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0477%	4h	94.619	+0.022%	$24K	$269K	10x	as long as short
Arcus CRCL-USD	+0.0533%	1h	94.550	−0.050%	$97K	$276K	10x	as long as short
RISEx CRCL/USDC	+0.0534%	1h	94.565	−0.034%	$431K	$303K	10x	as long as short