Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.004%

Price spread now: Bybit against ApeX Omni+0.142%119s7-day average — · you sell dearer than you buy

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

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.072%+$7 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Bybit is 0.142% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.142% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.7 days. Mind the row above: over the last 7 days funding on this pair paid +0.072%, so the current rate has only just turned against you. The two prices were read 119 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	91.830	0.0100	pay 0.0013% / 1h	15m 33s	$68K	$4K	50x
Short	Bybit CRCLUSDT	91.960	0	get 0.0000% / 8h	3h 15m	$14.9M	$26.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.142%Rate

Funding earned: −$21
Price spread: +0.142% → 0.000%: $14.16
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$27.84
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: ApeX Omni: no order-book sample; Bybit: live order book, 3 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 Bybit live order book, 3 min ago	1.09 bp	10.4 bp −$10	18.6 bp −$186	doesn't fit	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
Bitget CRCLUSDT	−0.0682%	8h	91.970	+0.152%	$16.6M	$35.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0061%	1h	91.670	−0.174%	—	$31K	25x	as long as short
Bybit CRCLUSDTshort	0.0000%	8h	91.960	+0.142%	$14.9M	$26.6M	50x
Gate CRCL_USDT	0.0000%	8h	91.990	+0.174%	$7.3M	$27.5M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.919	+0.097%	$2.5M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.930	+0.109%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0018%	8h	91.967	+0.149%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0024%	1h	91.910	+0.087%	$1.2M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0027%	8h	91.942	+0.123%	$104.8M	$392.5M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.969	+0.151%	$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 CRCLUSD	+0.0039%	1h	91.891	+0.067%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.870	+0.044%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.770	−0.065%	$911K	$519K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.880	+0.054%	$68.3M	$42.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.880	+0.054%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.918	+0.096%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.840	+0.011%	$1.0M	$5.1M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	91.920	+0.098%	$1.3M	$1.9M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0070%	8h	91.920	+0.098%	$423	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0092%	8h	91.970	+0.152%	$70K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0097%	8h	91.960	+0.142%	$22.3M	$61.8M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	91.933	+0.112%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.910	+0.087%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDTlong	+0.0100%	1h	91.830	long leg	$68K	$4K	50x
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.930	+0.109%	$917	$2K	10x	as long as short
BloFin CRCL-USDT	+0.0102%	8h	91.930	+0.109%	$1.1M	$1.6M	20x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.919	+0.096%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	91.944	+0.124%	$419K	$299K	10x	as long as short
Phoenix CRCL	+0.0182%	1h	91.770	−0.065%	$27K	$82K	10x	as long as short
edgeX CRCLUSDC	+0.0203%	4h	91.943	+0.123%	$51K	$277K	10x	as long as short
Lighter CRCL	+0.0264%	1h	91.961	+0.143%	$3.0M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0294%	1h	91.920	+0.098%	$4K	$768K	10x	as long as short
Nado CRCL-PERP	+0.0356%	1h	91.836	+0.006%	$134K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.360	+0.577%	$5K	$19K	30x	as long as short