Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0107%/8h= −11.8% APRpaid last 24h −0.020%

Price spread now: Aftermath Perps against OKX−0.146%7-day average — · you buy dearer than you sell

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

Long on OKX 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 −$3 a day on $10k at the current rate, and Aftermath Perps is 0.146% cheaper against OKX than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CRCL-USDT-SWAP	94.540	0.0149	pay 0.0149% / 8h	7h 25m	$22.8M	$59.5M	50x
Short	Aftermath Perps CRCLUSD	94.402	0.0042	get 0.0005% / 1h	25m 00s	$2K	$22K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against OKX. 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 OKXbpFee Aftermath PerpsbpOrdersPrice spread, now −0.146%Rate

Funding earned: −$22.57
Price spread: −0.146% → 0.000%: −$14.63
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$56.2
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 4 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 OKX live order book, 4 min ago	0.53 bp	6.4 bp −$6	12.1 bp −$121	doesn't fit	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	−0.349%	$942K	$622K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	94.500	−0.042%	$15.5M	$25.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.520	−0.021%	$7.3M	$27.0M	50x	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	94.500	−0.042%	$67K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.470	−0.074%	$1.0M	$49K	10x	as long as short
Bitget CRCLUSDT	+0.0030%	8h	94.490	−0.053%	$17.0M	$34.6M	25x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.544	+0.004%	$890K	$2.8M	10x	as long as short
Aftermath Perps CRCLUSDshort	+0.0042%	1h	94.402	−0.146%	$2K	$22K	5x
QFEX CRCL-USD	+0.0042%	1h	94.460	−0.085%	$1.4M	$2.6M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.390	−0.159%	—	$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	94.480	−0.063%	$71.9M	$42.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.460	−0.085%	$366K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.512	−0.030%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.390	−0.159%	$1.0M	$5.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.420	−0.127%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.490	−0.053%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.410	−0.138%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.490	−0.053%	$942	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.517	−0.024%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0106%	8h	94.494	−0.049%	$775	$740	5x	as long as short
Variational Omni CRCL	+0.0117%	8h	94.489	−0.054%	$2.5M	$3.1M	—	as long as short
OKX CRCL-USDT-SWAPlong	+0.0149%	8h	94.540	long leg	$22.8M	$59.5M	50x
Binance CRCLUSDT	+0.0188%	8h	94.530	−0.011%	$109.5M	$386.0M	50x	as long as short
Extended CRCL_24_5-USD	+0.0192%	1h	94.509	−0.033%	$1.1M	$5.9M	10x	as long as short
Aster CRCLUSDT	+0.0195%	8h	94.491	−0.051%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0234%	1h	94.411	−0.137%	$132K	$76K	3x	as long as short
Phoenix CRCL	+0.0296%	1h	94.424	−0.123%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0304%	1h	94.543	+0.003%	$3.1M	$2.2M	10x	as long as short
BloFin CRCL-USDT	+0.0308%	8h	94.500	−0.042%	$1.1M	$561K	20x	as long as short
edgeX CRCLUSDC	+0.0385%	4h	94.442	−0.104%	$24K	$267K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.890	+0.370%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.420	−0.127%	$96K	$273K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	94.490	−0.053%	$431K	$299K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0703%	1h	94.550	+0.011%	$4K	$769K	10x	as long as short