Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.004%

Price spread now: ApeX Omni against Bybit+0.064%109s7-day average — · you sell dearer than you buy

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

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and ApeX Omni is 0.064% dearer against Bybit than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.073%, so the current rate has only just turned in your favour. The two prices were read 109 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	Bybit CRCLUSDT	94.350	0	get 0.0000% / 8h	7h 21m	$15.5M	$25.6M	50x
Short	ApeX Omni CRCLUSDT	94.410	0.0100	get 0.0013% / 1h	21m 48s	$69K	$4K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now +0.064%Rate

Funding earned: $21
Price spread: +0.064% → 0.000%: $6.36
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $6.36
Costs to cover: 0.210%
Break-even: 4.9 days

Slippage unknown: Bybit: live order book, 2 min ago; ApeX Omni: 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 Bybit live order book, 2 min ago	1.06 bp	10.4 bp −$10	17.6 bp −$176	doesn't fit	doesn't fit
Sell ApeX Omni no order-book sample	—	—	—	—	—

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	−0.0064%	1h	94.210	−0.148%	$942K	$622K	10x	as long as short
Bybit CRCLUSDTlong	0.0000%	8h	94.350	long leg	$15.5M	$25.6M	50x
Gate CRCL_USDT	0.0000%	8h	94.400	+0.053%	$7.2M	$27.0M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.506	+0.165%	$67K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.390	+0.042%	$1.0M	$49K	10x	as long as short
Bitget CRCLUSDT	+0.0023%	8h	94.380	+0.032%	$17.0M	$34.6M	25x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.356	+0.006%	$888K	$2.8M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	94.348	−0.002%	$2K	$22K	5x	as long as short
QFEX CRCL-USD	+0.0042%	1h	94.390	+0.042%	$1.4M	$2.6M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.270	−0.085%	—	$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	94.310	−0.042%	$71.7M	$42.0M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.340	−0.011%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.357	+0.007%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.280	−0.074%	$1.0M	$5.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.325	−0.027%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.420	+0.074%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDTshort	+0.0100%	1h	94.410	+0.064%	$69K	$4K	50x
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.370	+0.021%	$941	$3K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0102%	8h	94.376	+0.028%	$774	$740	5x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.375	+0.027%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0117%	8h	94.489	+0.148%	$2.5M	$3.1M	—	as long as short
OKX CRCL-USDT-SWAP	+0.0146%	8h	94.350	0.000%	$22.8M	$59.3M	50x	as long as short
Binance CRCLUSDT	+0.0182%	8h	94.372	+0.023%	$109.4M	$386.0M	50x	as long as short
Extended CRCL_24_5-USD	+0.0184%	1h	94.369	+0.020%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0187%	8h	94.416	+0.070%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0226%	1h	94.311	−0.041%	$132K	$76K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0280%	1h	94.360	+0.011%	$4K	$769K	10x	as long as short
Lighter CRCL	+0.0288%	1h	94.376	+0.028%	$3.0M	$2.2M	10x	as long as short
edgeX CRCLUSDC	+0.0294%	4h	94.484	+0.142%	$24K	$268K	10x	as long as short
Phoenix CRCL	+0.0296%	1h	94.424	+0.078%	$28K	$92K	10x	as long as short
BloFin CRCL-USDT	+0.0305%	8h	94.460	+0.117%	$1.1M	$561K	20x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.890	+0.572%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.390	+0.042%	$96K	$271K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	94.368	+0.019%	$430K	$299K	10x	as long as short