Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0598%/8h= −65.5% APRpaid last 24h +0.012%

Price spread now: Bitget against Extended+0.062%7-day average +0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$290.291% of the position

Long on Extended Short on Bitget

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−0.034%−$3 · spread now +0.062%, 7d avg +0.074%

Together, before fees+0.034%+ Points / potential airdropExtended: Active · farm board+$3 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: −$18 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.069%, so the current rate has only just turned against you.

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	Extended CRCL_24_5-USD	91.783	0.0128	pay 0.0016% / 1h	12m 44s	$1.0M	$5.0M	10x
Short	Bitget CRCLUSDT	91.840	−0.0470	pay 0.0470% / 8h	1h 12m	$17.6M	$37.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Extended. 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 ExtendedbpFee BitgetbpOrdersPrice spread, now +0.062%Rate

Funding earned: −$125.58
Price spread: +0.062% → +0.074%: −$1.18
Slippage, 4 orders: −$12.09
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$155.85
Costs to cover: 0.291%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; Bitget: live order book, 1 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 Extended live order book, 1 min ago	0.87 bp	5.6 bp −$6	35.0 bp −$350	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	1.63 bp	9.3 bp −$9	13.6 bp −$136	52.0 bp −$5,204	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 CRCLUSDTshort	−0.0470%	8h	91.840	+0.062%	$17.6M	$37.0M	25x
Vest CRCL-USD-PERP	−0.0082%	1h	91.480	−0.331%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.770	−0.015%	$14.7M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.850	+0.073%	$7.8M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.760	−0.025%	$1.0M	$48K	10x	as long as short
Variational Omni CRCL	+0.0032%	8h	91.749	−0.038%	$2.4M	$3.2M	—	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	91.679	−0.114%	$2K	$28K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.710	−0.080%	$94K	$292K	10x	as long as short
Lighter RH CRCL	+0.0048%	1h	91.775	−0.009%	$981K	$2.7M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.768	−0.017%	$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	91.700	−0.091%	$1.1M	$5.3M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0056%	1h	91.790	+0.007%	$894K	$454K	10x	as long as short
QFEX CRCL-USD	+0.0068%	1h	91.750	−0.036%	$1.3M	$1.8M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.760	−0.026%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.730	−0.058%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.650	−0.145%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.760	−0.025%	$915	$2K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0104%	1h	91.710	−0.080%	$67.9M	$44.5M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.790	+0.008%	$4	—	10x	as long as short
Aster CRCLUSDT	+0.0119%	8h	91.775	−0.009%	$1.0M	$5.1M	20x	as long as short
Extended CRCL_24_5-USDlong	+0.0128%	1h	91.783	long leg	$1.0M	$5.0M	10x
Binance CRCLUSDT	+0.0133%	8h	91.780	−0.004%	$105.0M	$397.4M	50x	as long as short
Polymarket Perps CRCL-USD	+0.0141%	1h	91.756	−0.030%	$384K	$1.3M	10x	as long as short
edgeX CRCLUSDC	+0.0144%	4h	91.739	−0.048%	$52K	$278K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0180%	8h	91.738	−0.050%	$422	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0210%	8h	91.769	−0.016%	$64K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0219%	8h	91.780	−0.004%	$22.3M	$62.7M	50x	as long as short
Phoenix CRCL	+0.0245%	1h	91.694	−0.097%	$27K	$82K	10x	as long as short
BloFin CRCL-USDT	+0.0250%	8h	91.780	−0.004%	$1.1M	$1.7M	20x	as long as short
RISEx CRCL/USDC	+0.0271%	1h	91.780	−0.004%	$418K	$267K	10x	as long as short
Lighter CRCL	+0.0312%	1h	91.779	−0.005%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0419%	1h	91.676	−0.117%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.210	+0.465%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0841%	1h	91.770	−0.015%	$5K	$769K	10x	as long as short