Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0009%/8h= −1.0% APRpaid last 24h −0.002%

Price spread now: Variational Omni against Aevo+0.040%48s7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.040% dearer against Aevo than usual: you sell high and buy low, +$4 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 48 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	Aevo CRCL-PERP	91.720	0.0104	pay 0.0013% / 1h	39m 31s	$4	—	10x
Short	Variational Omni CRCL	91.757	0.0095	get 0.0095% / 8h	39m 31s	$2.4M	$3.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Aevo. 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 AevobpFee Variational OmnibpOrdersPrice spread, now +0.040%Rate

Funding earned: −$1.91
Price spread: +0.040% → 0.000%: $4.02
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$13.88
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Variational Omni: RFQ quote, 5 min ago. 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 Aevo no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 5 min ago	3.46 bp	doesn't fit	10.9 bp −$109	doesn't fit	doesn't fit

Aevo: 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	−0.0249%	8h	91.710	−0.011%	$17.5M	$36.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0078%	1h	91.440	−0.305%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.730	+0.011%	$7.8M	$27.3M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.710	−0.011%	$1.0M	$48K	10x	as long as short
Bybit CRCLUSDT	+0.0029%	8h	91.670	−0.055%	$14.8M	$26.4M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.656	−0.070%	$979K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	91.665	−0.061%	$2K	$28K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.710	−0.011%	$97K	$292K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.670	−0.055%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.710	−0.011%	$1.1M	$4.9M	10x	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	91.640	−0.087%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.400	−0.349%	$890K	$415K	10x	as long as short
Variational Omni CRCLshort	+0.0095%	8h	91.757	+0.040%	$2.4M	$3.3M	—
Pacifica CRCL	+0.0100%	1h	91.630	−0.098%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.680	−0.044%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.700	−0.022%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.730	+0.011%	$915	$1K	10x	as long as short
Aevo CRCL-PERPlong	+0.0104%	1h	91.720	long leg	$4	—	10x
tradeXYZ xyz:CRCL	+0.0132%	1h	91.648	−0.079%	$67.9M	$43.8M	10x	as long as short
Aster CRCLUSDT	+0.0167%	8h	91.716	−0.005%	$1.0M	$5.0M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0174%	8h	91.626	−0.102%	$421	$905	5x	as long as short
Polymarket Perps CRCL-USD	+0.0179%	1h	91.643	−0.084%	$380K	$1.3M	10x	as long as short
Binance CRCLUSDT	+0.0182%	8h	91.650	−0.077%	$105.3M	$389.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0184%	1h	91.625	−0.104%	$1.0M	$5.0M	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.688	−0.035%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0248%	8h	91.784	+0.069%	$61K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0259%	8h	91.760	+0.043%	$22.3M	$61.9M	50x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0296%	1h	91.670	−0.055%	$5K	$769K	10x	as long as short
Lighter CRCL	+0.0296%	1h	91.652	−0.074%	$2.9M	$2.4M	10x	as long as short
BloFin CRCL-USDT	+0.0299%	8h	91.820	+0.109%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0437%	1h	91.575	−0.158%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.150	+0.469%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.665	−0.060%	$411K	$271K	10x	as long as short
edgeX CRCLUSDC	+0.0982%	4h	91.785	+0.071%	$52K	$275K	10x	as long as short