Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0157%/8h= +17.2% APRpaid last 24h +0.058%

Price spread now: BloFin against ApeX Omni−0.310%103s7-day average — · you buy dearer than you sell

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

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.307%+$31 on $10k

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. BloFin is 0.310% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.310% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$31 on $10k: about 6.6 days of funding at the current rate (+$5 a day). The two prices were read 103 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni CRCLUSDT	93.450	0.0100	pay 0.0013% / 1h	57m 26s	$69K	$4K	50x
Short	BloFin CRCL-USDT	93.160	0.0257	get 0.0257% / 8h	6h 57m	$1.1M	$1.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against ApeX Omni. 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 ApeX OmnibpFee BloFinbpOrdersPrice spread, now −0.310%Rate

Funding earned: $32.96
Price spread: −0.310% → 0.000%: −$31.03
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$20.07
Costs to cover: 0.220%
Break-even: 11.3 days

Slippage unknown: ApeX Omni: no order-book sample; BloFin: live order book, 5 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 ApeX Omni no order-book sample	—	—	—	—	—
Sell BloFin live order book, 5 min ago	5.34 bp	12.8 bp −$13	23.4 bp −$234	55.3 bp −$5,532	doesn't fit

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
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	93.400	−0.054%	$934K	$590K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	93.310	−0.150%	$15.3M	$25.5M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	93.280	−0.182%	$426K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	93.360	−0.096%	$7.2M	$25.5M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	93.340	−0.118%	$16.6M	$34.4M	25x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	93.497	+0.051%	$62K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	93.410	−0.043%	$1.0M	$49K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	93.341	−0.117%	$978K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	93.632	+0.195%	$2K	$22K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	93.470	+0.021%	$96K	$271K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest CRCL-USD-PERP	+0.0044%	1h	93.140	−0.332%	—	$37K	25x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	93.219	−0.247%	$70.9M	$41.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	93.264	−0.199%	$361K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	93.330	−0.128%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	93.410	−0.043%	$1.0M	$5.6M	10x	as long as short
QFEX CRCL-USD	+0.0057%	1h	93.250	−0.214%	$1.3M	$2.5M	10x	as long as short
Variational Omni CRCL	+0.0059%	8h	93.569	+0.127%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0097%	8h	93.245	−0.219%	$765	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	93.298	−0.163%	$75K	$96K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	93.390	−0.064%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDTlong	+0.0100%	1h	93.450	long leg	$69K	$4K	50x
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	93.330	−0.128%	$931	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	93.334	−0.124%	$4	—	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0118%	8h	93.310	−0.150%	$22.5M	$58.3M	50x	as long as short
Aster CRCLUSDT	+0.0134%	8h	93.312	−0.147%	$1.1M	$4.9M	20x	as long as short
Binance CRCLUSDT	+0.0135%	8h	93.290	−0.171%	$107.6M	$386.0M	50x	as long as short
Extended CRCL_24_5-USD	+0.0136%	1h	93.255	−0.209%	$1.1M	$5.7M	10x	as long as short
Nado CRCL-PERP	+0.0239%	1h	93.273	−0.190%	$154K	$89K	3x	as long as short
BloFin CRCL-USDTshort	+0.0257%	8h	93.160	−0.310%	$1.1M	$1.0M	20x
Phoenix CRCL	+0.0296%	1h	93.327	−0.132%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0296%	1h	93.362	−0.094%	$3.0M	$2.3M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0393%	1h	93.350	−0.107%	$4K	$769K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	93.910	+0.492%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0813%	4h	93.468	+0.020%	$24K	$266K	10x	as long as short