Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0267%/8h= −29.3% APRpaid last 24h −0.048%

Price spread now: Aftermath Perps against BloFin−0.130%49s7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Aftermath Perps

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 against this trade now: funding costs −$8 a day on $10k at the current rate, and Aftermath Perps is 0.130% cheaper against BloFin than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 49 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	BloFin CRCL-USDT	94.500	0.0308	pay 0.0308% / 8h	7h 24m	$1.1M	$561K	20x
Short	Aftermath Perps CRCLUSD	94.378	0.0041	get 0.0005% / 1h	24m 23s	$2K	$22K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against BloFin. 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 BloFinbpFee Aftermath PerpsbpOrdersPrice spread, now −0.130%Rate

Funding earned: −$56.12
Price spread: −0.130% → 0.000%: −$12.96
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$90.08
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 3 min ago; Aftermath Perps: 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 BloFin live order book, 3 min ago	1.06 bp	10.8 bp −$11	17.7 bp −$177	46.8 bp −$4,683	doesn't fit
Sell Aftermath Perps no order-book sample	—	—	—	—	—

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
Coinbase International CRCL-PERP-INTX	−0.0064%	1h	94.210	−0.307%	$942K	$622K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	94.490	−0.011%	$15.5M	$25.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.490	−0.011%	$7.3M	$27.0M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.500	0.000%	$67K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.470	−0.032%	$1.0M	$49K	10x	as long as short
Bitget CRCLUSDT	+0.0031%	8h	94.470	−0.032%	$17.0M	$34.6M	25x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.469	−0.033%	$889K	$2.8M	10x	as long as short
Aftermath Perps CRCLUSDshort	+0.0041%	1h	94.378	−0.130%	$2K	$22K	5x
QFEX CRCL-USD	+0.0042%	1h	94.440	−0.063%	$1.4M	$2.6M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.380	−0.127%	—	$37K	25x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CRCL	+0.0050%	1h	94.403	−0.103%	$71.8M	$42.0M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.453	−0.050%	$366K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.512	+0.013%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.390	−0.116%	$1.0M	$5.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.404	−0.102%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.470	−0.032%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.410	−0.095%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.450	−0.053%	$942	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.449	−0.053%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0105%	8h	94.514	+0.015%	$775	$740	5x	as long as short
Variational Omni CRCL	+0.0117%	8h	94.489	−0.011%	$2.5M	$3.1M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0149%	8h	94.480	−0.021%	$22.8M	$59.4M	50x	as long as short
Binance CRCLUSDT	+0.0188%	8h	94.468	−0.034%	$109.5M	$385.9M	50x	as long as short
Extended CRCL_24_5-USD	+0.0192%	1h	94.452	−0.050%	$1.1M	$5.9M	10x	as long as short
Aster CRCLUSDT	+0.0194%	8h	94.475	−0.026%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0231%	1h	94.471	−0.030%	$132K	$76K	3x	as long as short
Phoenix CRCL	+0.0296%	1h	94.424	−0.080%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0304%	1h	94.484	−0.017%	$3.1M	$2.2M	10x	as long as short
BloFin CRCL-USDTlong	+0.0308%	8h	94.500	long leg	$1.1M	$561K	20x
edgeX CRCLUSDC	+0.0385%	4h	94.442	−0.062%	$24K	$267K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.890	+0.413%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.440	−0.063%	$97K	$271K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	94.474	−0.027%	$431K	$299K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0703%	1h	94.550	+0.053%	$4K	$769K	10x	as long as short