Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0076%/8h= +8.4% APRpaid last 24h −0.009%

Price spread now: Orderly against Aftermath Perps+0.030%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 Orderly

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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Orderly is 0.030% dearer against Aftermath Perps than usual: you sell high and buy low: +$3 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	91.872	0.0024	pay 0.0003% / 1h	17m 22s	$2K	$23K	5x
Short	Orderly PERP_CRCL_USDC_mythos	91.900	0.0100	get 0.0100% / 8h	6h 17m	$916	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.030%Rate

Funding earned: $16.03
Price spread: +0.030% → 0.000%: $3.03
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: $4.07
Costs to cover: 0.150%
Break-even: 5.2 days

Slippage unknown: Aftermath Perps: no order-book sample; Orderly: 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Aftermath Perps and Orderly: 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 33 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	−0.0806%	8h	92.010	+0.150%	$16.0M	$35.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0039%	1h	91.670	−0.220%	—	$40K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.700	−0.187%	$913K	$580K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.940	+0.074%	$15.0M	$25.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.933	+0.066%	$420K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.950	+0.085%	$7.1M	$26.8M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.938	+0.072%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.730	−0.155%	$69K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.980	+0.117%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSDlong	+0.0024%	1h	91.872	long leg	$2K	$23K	5x

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	91.970	+0.107%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.830	−0.046%	$93K	$273K	10x	as long as short
Extended CRCL_24_5-USD	+0.0048%	1h	91.896	+0.026%	$1.1M	$5.7M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.884	+0.013%	$69.0M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.862	−0.011%	$355K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.895	+0.025%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.730	−0.155%	$999K	$5.5M	10x	as long as short
Binance CRCLUSDT	+0.0051%	8h	91.920	+0.052%	$104.9M	$394.1M	50x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.920	+0.052%	$1.3M	$2.3M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0057%	8h	91.930	+0.063%	$21.8M	$60.3M	50x	as long as short
Aster CRCLUSDT	+0.0060%	8h	91.959	+0.094%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0074%	8h	91.964	+0.100%	$754	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.977	+0.114%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.960	+0.096%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.720	−0.166%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythosshort	+0.0100%	8h	91.900	+0.030%	$916	$3K	10x
Aevo CRCL-PERP	+0.0104%	1h	91.923	+0.055%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0153%	1h	91.894	+0.024%	$131K	$103K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0185%	1h	91.930	+0.063%	$4K	$769K	10x	as long as short
Lighter CRCL	+0.0200%	1h	91.980	+0.117%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	91.850	−0.024%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.500	+0.683%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0678%	4h	91.707	−0.180%	$23K	$268K	10x	as long as short