Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.049%

Price spread now: Variational Omni against Arcus+0.041%7-day average +0.066% · you sell dearer than you buy

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

Long on Arcus Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.102%−$10 on $10k

Price spread, last 4 days (all we have)+0.668%+$67 · spread now +0.041%, 7d avg +0.066%

Together, before fees+0.566%+ Points / potential airdropVariational Omni: Active · farm board+$57 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.025% cheaper against Arcus than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.066%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus CRCL-USD	91.570	0.0040	pay 0.0005% / 1h	31m 14s	$93K	$273K	10x
Short	Variational Omni CRCL	91.607	0	get 0.0000% / 8h	5h 31m	$2.4M	$3.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Arcus. 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 ArcusbpFee Variational OmnibpOrdersPrice spread, now +0.041%Rate

Funding earned: −$8.46
Price spread: +0.041% → +0.066%: −$2.5
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$15.46
Costs to cover: 0.045%
Break-even: never at this rate

Slippage unknown: Arcus: live order book, 32 min ago; Variational Omni: RFQ quote, 3 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 Arcus live order book, 32 min ago	3.81 bp	10.9 bp −$11	14.4 bp −$144	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	3.46 bp	doesn't fit	16.5 bp −$165	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	−0.1322%	8h	91.850	+0.306%	$15.8M	$34.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0076%	1h	91.460	−0.120%	—	$35K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0016%	1h	91.690	+0.131%	$905K	$529K	10x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.784	+0.233%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	0.0000%	8h	91.931	+0.394%	$104.6M	$384.7M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.950	+0.415%	$15.0M	$25.7M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.706	+0.148%	$419K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.770	+0.218%	$7.1M	$26.6M	50x	as long as short
Variational Omni CRCLshort	0.0000%	8h	91.607	+0.041%	$2.4M	$3.2M	—
GRVT CRCL_USDT_Perp	0.0000%	8h	91.639	+0.075%	$65K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.820	+0.273%	$1.0M	$49K	10x	as long as short
Aster CRCLUSDT	+0.0003%	8h	91.742	+0.187%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0012%	8h	91.980	+0.448%	$21.6M	$59.6M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0019%	1h	91.593	+0.025%	$2K	$23K	5x	as long as short
QFEX CRCL-USD	+0.0023%	1h	91.690	+0.131%	$1.3M	$2.1M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.962	+0.428%	$976K	$2.9M	10x	as long as short
Arcus CRCL-USDlong	+0.0040%	1h	91.570	long leg	$93K	$273K	10x
tradeXYZ xyz:CRCL	+0.0050%	1h	91.709	+0.152%	$68.6M	$41.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.697	+0.139%	$357K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.698	+0.140%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.520	−0.055%	$970K	$5.2M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0067%	8h	91.701	+0.143%	$752	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.660	+0.098%	$132K	$157K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.800	+0.251%	$2.8M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.610	+0.044%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.750	+0.197%	$915	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.756	+0.203%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0109%	8h	91.790	+0.240%	$1.1M	$1.3M	20x	as long as short
Nado CRCL-PERP	+0.0175%	1h	91.691	+0.133%	$131K	$104K	3x	as long as short
Phoenix CRCL	+0.0183%	1h	91.608	+0.041%	$27K	$84K	10x	as long as short
Lighter CRCL	+0.0208%	1h	91.838	+0.293%	$3.0M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.200	+0.688%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0590%	4h	91.601	+0.033%	$23K	$268K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0731%	1h	91.800	+0.251%	$4K	$767K	10x	as long as short