Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0625%/8h= +68.4% APRpaid last 24h −0.012%

Price spread now: Extended against Bitget−0.083%7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$300.297% of the position

Long on Bitget Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 7 days+0.056%+$6 · spread now −0.083%, 7d avg −0.074%

Together, before fees−0.013%+ Points / potential airdropExtended: Active · farm board−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.074%, so right now this pair is about funding alone: +$19 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.069%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.069% in total (about -3.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CRCLUSDT	91.820	−0.0497	get 0.0497% / 8h	1h 14m	$17.6M	$37.0M	25x
Short	Extended CRCL_24_5-USD	91.743	0.0128	get 0.0016% / 1h	14m 11s	$1.0M	$5.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bitget. 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 BitgetbpFee ExtendedbpOrdersPrice spread, now −0.083%Rate

Funding earned: $131.25
Price spread: −0.083% → −0.074%: −$0.99
Slippage, 4 orders: −$12.7
Fee Bitget: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $100.56
Costs to cover: 0.297%
Break-even: 1.6 days

Slippage from Bitget: live order book, 5 min ago; Extended: live order book, 5 min ago.

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 Bitget live order book, 5 min ago	1.63 bp	9.6 bp −$10	15.0 bp −$150	33.0 bp −$3,295	doesn't fit
Sell Extended live order book, 5 min ago	0.55 bp	5.5 bp −$6	18.3 bp −$183	doesn't fit	doesn't fit

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 CRCLUSDTlong	−0.0497%	8h	91.820	long leg	$17.6M	$37.0M	25x
Vest CRCL-USD-PERP	−0.0082%	1h	91.460	−0.392%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.760	−0.065%	$14.7M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.800	−0.022%	$7.8M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.760	−0.065%	$1.0M	$48K	10x	as long as short
Variational Omni CRCL	+0.0032%	8h	91.749	−0.077%	$2.4M	$3.2M	—	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.689	−0.142%	$2K	$28K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.700	−0.131%	$94K	$292K	10x	as long as short
Lighter RH CRCL	+0.0048%	1h	91.770	−0.054%	$981K	$2.7M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.750	−0.076%	$46K	$3K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.670	−0.163%	$1.1M	$5.3M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0056%	1h	91.790	−0.033%	$894K	$504K	10x	as long as short
QFEX CRCL-USD	+0.0068%	1h	91.690	−0.142%	$1.3M	$1.8M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.728	−0.100%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.710	−0.120%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.720	−0.109%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.730	−0.098%	$915	$2K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0101%	1h	91.701	−0.130%	$67.9M	$44.5M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.757	−0.069%	$4	—	10x	as long as short
Aster CRCLUSDT	+0.0115%	8h	91.775	−0.049%	$1.0M	$5.1M	20x	as long as short
Extended CRCL_24_5-USDshort	+0.0128%	1h	91.743	−0.083%	$1.0M	$5.0M	10x
Binance CRCLUSDT	+0.0130%	8h	91.770	−0.054%	$105.0M	$398.0M	50x	as long as short
Polymarket Perps CRCL-USD	+0.0140%	1h	91.741	−0.086%	$384K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0177%	8h	91.710	−0.120%	$422	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0201%	8h	91.760	−0.066%	$64K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0218%	8h	91.770	−0.054%	$22.3M	$62.8M	50x	as long as short
Phoenix CRCL	+0.0245%	1h	91.779	−0.045%	$27K	$82K	10x	as long as short
BloFin CRCL-USDT	+0.0248%	8h	91.760	−0.065%	$1.1M	$1.7M	20x	as long as short
RISEx CRCL/USDC	+0.0271%	1h	91.740	−0.087%	$418K	$267K	10x	as long as short
Lighter CRCL	+0.0312%	1h	91.786	−0.037%	$3.0M	$2.4M	10x	as long as short
edgeX CRCLUSDC	+0.0388%	4h	91.794	−0.028%	$52K	$278K	10x	as long as short
Nado CRCL-PERP	+0.0420%	1h	91.637	−0.200%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.210	+0.425%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0623%	1h	91.740	−0.087%	$5K	$769K	10x	as long as short