Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.015%

Price spread now: Bybit against Gate−0.077%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$480.479% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 7 days+0.082%+$8 · spread now −0.077%, 7d avg −0.004%

Together, before fees+0.090%+$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.073% cheaper against Gate than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CRCL_USDT	91.440	0	get 0.0000% / 8h	1h 30m	$7.8M	$27.5M	50x
Short	Bybit CRCLUSDT	91.370	0	get 0.0000% / 8h	1h 30m	$14.6M	$26.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Gate. 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 GatebpFee BybitbpOrdersPrice spread, now −0.077%Rate

Funding earned: $0
Price spread: −0.077% → −0.004%: −$7.25
Slippage, 4 orders: −$21.89
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$55.14
Costs to cover: 0.479%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Bybit: live order book, 8 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 Gate live order book, 4 min ago	2.19 bp	13.0 bp −$13	31.0 bp −$310	doesn't fit	doesn't fit
Sell Bybit live order book, 8 min ago	0.55 bp	10.3 bp −$10	17.4 bp −$174	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 CRCLUSDT	−0.0716%	8h	91.450	+0.011%	$17.4M	$37.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0088%	1h	91.090	−0.383%	—	$31K	25x	as long as short
Bybit CRCLUSDTshort	0.0000%	8h	91.370	−0.077%	$14.6M	$26.6M	50x
Gate CRCL_USDTlong	0.0000%	8h	91.440	long leg	$7.8M	$27.5M	50x
Variational Omni CRCL	0.0000%	8h	91.369	−0.078%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.370	−0.077%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.443	+0.003%	$977K	$2.7M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	91.273	−0.182%	$2K	$27K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.290	−0.164%	$94K	$291K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.403	−0.040%	$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	91.240	−0.219%	$1.1M	$5.2M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0056%	1h	91.200	−0.262%	$888K	$603K	10x	as long as short
QFEX CRCL-USD	+0.0068%	1h	91.360	−0.087%	$1.3M	$1.8M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0076%	1h	91.355	−0.093%	$67.6M	$44.4M	10x	as long as short
Aster CRCLUSDT	+0.0086%	8h	91.448	+0.009%	$1.0M	$5.1M	20x	as long as short
Pacifica CRCL	+0.0100%	1h	91.357	−0.091%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.360	−0.087%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.290	−0.164%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.400	−0.044%	$911	$2K	10x	as long as short
Binance CRCLUSDT	+0.0100%	8h	91.431	−0.010%	$104.5M	$397.3M	50x	as long as short
Extended CRCL_24_5-USD	+0.0104%	1h	91.407	−0.036%	$1.0M	$5.0M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.414	−0.028%	$4	—	10x	as long as short
Polymarket Perps CRCL-USD	+0.0133%	1h	91.389	−0.056%	$383K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0159%	8h	91.372	−0.074%	$420	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0186%	8h	91.369	−0.078%	$67K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0199%	8h	91.450	+0.011%	$22.2M	$62.6M	50x	as long as short
BloFin CRCL-USDT	+0.0219%	8h	91.390	−0.055%	$1.1M	$1.7M	20x	as long as short
Phoenix CRCL	+0.0245%	1h	91.232	−0.227%	$27K	$82K	10x	as long as short
RISEx CRCL/USDC	+0.0271%	1h	91.395	−0.049%	$416K	$268K	10x	as long as short
Lighter CRCL	+0.0288%	1h	91.438	−0.002%	$2.9M	$2.4M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0407%	1h	91.400	−0.044%	$5K	$769K	10x	as long as short
Nado CRCL-PERP	+0.0410%	1h	91.322	−0.129%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.720	+0.306%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0795%	4h	91.298	−0.156%	$52K	$278K	10x	as long as short