Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0280%/8h= −30.7% APRpaid last 24h −0.072%

Price spread now: Ondo Perps against BloFin−0.110%7-day average −0.098% · you buy dearer than you sell

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

Long on BloFin Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.401%−$40 on $10k

Price spread, last 4 days (all we have)+0.079%+$8 · spread now −0.110%, 7d avg −0.098%

Together, before fees−0.323%+ Points / potential airdropOndo Perps: Active · farm board−$32 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.098%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin CRCL-USDT	91.250	0.0331	pay 0.0331% / 8h	5m 50s	$1.1M	$1.7M	20x
Short	Ondo Perps CRCL-USD.P	91.150	0.0050	get 0.0006% / 1h	5m 50s	$1.1M	$4.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo 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 Ondo PerpsbpOrdersPrice spread, now −0.110%Rate

Funding earned: −$58.83
Price spread: −0.110% → −0.098%: −$1.13
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$76.96
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 2 min ago; Ondo 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, 2 min ago	0.55 bp	9.6 bp −$10	12.2 bp −$122	28.7 bp −$2,866	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo 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
Bitget CRCLUSDT	−0.0353%	8h	91.360	+0.121%	$17.3M	$36.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0083%	1h	90.940	−0.340%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.320	+0.077%	$7.8M	$28.0M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.260	+0.011%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.276	+0.028%	$983K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.193	−0.062%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.180	−0.077%	$95K	$296K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.240	−0.011%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.Pshort	+0.0050%	1h	91.150	−0.110%	$1.1M	$4.8M	10x
Bybit CRCLUSDT	+0.0062%	8h	91.310	+0.066%	$14.8M	$26.5M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.260	+0.011%	$1.3M	$1.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.070	−0.197%	$871K	$500K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0089%	1h	91.199	−0.056%	$67.3M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.239	−0.012%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.260	+0.011%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.120	−0.142%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.240	−0.011%	$910	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.266	+0.018%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0132%	8h	91.253	+0.003%	$2.4M	$3.3M	—	as long as short
Polymarket Perps CRCL-USD	+0.0152%	1h	91.238	−0.013%	$377K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0157%	8h	91.210	−0.044%	$420	$905	5x	as long as short
Aster CRCLUSDT	+0.0195%	8h	91.302	+0.057%	$1.0M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0208%	1h	91.238	−0.013%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0211%	8h	91.288	+0.042%	$104.9M	$389.3M	50x	as long as short
Phoenix CRCL	+0.0227%	1h	91.187	−0.069%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0250%	8h	91.217	−0.036%	$70K	$1.1M	10x	as long as short
Lighter CRCL	+0.0256%	1h	91.261	+0.012%	$2.9M	$2.4M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0287%	8h	91.310	+0.066%	$22.3M	$61.7M	50x	as long as short
BloFin CRCL-USDTlong	+0.0331%	8h	91.250	long leg	$1.1M	$1.7M	20x
Nado CRCL-PERP	+0.0434%	1h	91.132	−0.130%	$133K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.740	+0.537%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.275	+0.028%	$412K	$268K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0628%	1h	91.240	−0.011%	$5K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0810%	4h	91.207	−0.047%	$52K	$269K	10x	as long as short