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 −0.022%

Price spread now: Variational Omni against Binance−0.111%7-day average +0.002% · you buy dearer than you sell

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

Long on Binance Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.023%−$2 on $10k

Price spread, last 7 days+0.100%+$10 · spread now −0.111%, 7d avg +0.002%

Together, before fees+0.077%+ Points / potential airdropVariational Omni: Active · farm board+$8 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: Variational Omni is 0.113% cheaper against Binance than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CRCLUSDT	91.920	0	get 0.0000% / 8h	4h 44m	$104.8M	$387.6M	50x
Short	Variational Omni CRCL	91.818	0	get 0.0000% / 8h	4h 44m	$2.4M	$3.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Binance. 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 BinancebpFee Variational OmnibpOrdersPrice spread, now −0.111%Rate

Funding earned: $0
Price spread: −0.111% → +0.002%: −$11.33
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$21.33
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 14 min ago; 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 Binance live order book, 14 min ago	0.54 bp	7.3 bp −$7	11.5 bp −$115	34.7 bp −$3,472	189.2 bp −$94.6K
Sell Variational Omni RFQ quote, 5 min ago	3.46 bp	doesn't fit	11.6 bp −$116	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	−0.0952%	8h	91.960	+0.044%	$16.2M	$34.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.630	−0.315%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.925	+0.006%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	0.0000%	1h	91.926	+0.007%	$1.1M	$5.6M	10x	as long as short
Binance CRCLUSDTlong	0.0000%	8h	91.920	long leg	$104.8M	$387.6M	50x
Bybit CRCLUSDT	0.0000%	8h	91.930	+0.011%	$15.0M	$26.3M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.892	−0.031%	$420K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.010	+0.098%	$7.3M	$27.0M	50x	as long as short
Variational Omni CRCLshort	0.0000%	8h	91.818	−0.111%	$2.4M	$3.2M	—
GRVT CRCL_USDT_Perp	0.0000%	8h	91.879	−0.045%	$64K	$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	91.880	−0.044%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0013%	8h	91.920	0.000%	$22.0M	$60.6M	50x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.800	−0.131%	$906K	$490K	10x	as long as short
edgeX CRCLUSDC	+0.0021%	4h	91.784	−0.147%	$51K	$277K	10x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.840	−0.087%	$1.3M	$2.0M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0029%	1h	91.889	−0.034%	$2K	$24K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.941	+0.023%	$975K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.930	+0.011%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.874	−0.050%	$68.5M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.847	−0.079%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.851	−0.075%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.750	−0.185%	$992K	$5.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0087%	8h	91.859	−0.066%	$423	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.840	−0.087%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.900	−0.022%	$2.7M	$2.0M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.730	−0.207%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.950	+0.033%	$917	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.933	+0.014%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.790	−0.141%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.884	−0.039%	$27K	$83K	10x	as long as short
Lighter CRCL	+0.0216%	1h	91.950	+0.033%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0301%	1h	91.819	−0.110%	$131K	$104K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.330	+0.446%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0512%	1h	91.950	+0.033%	$4K	$767K	10x	as long as short