Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0206%/8h= −22.6% APRpaid last 24h −0.033%

Price spread now: Vest against BloFin−0.116%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Vest

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—+ Points / potential airdropVest: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Vest is 0.116% cheaper against BloFin than usual: you would sell low and buy high (−$12 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	BloFin CRCL-USDT	94.500	0.0252	pay 0.0252% / 8h	1h 45m	$1.1M	$581K	20x
Short	Vest CRCL-USD-PERP	94.390	0.0046	get 0.0006% / 1h	45m 09s	—	$45K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against BloFin. 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 BloFinbpFee VestbpOrdersPrice spread, now −0.116%Rate

Funding earned: −$43.26
Price spread: −0.116% → 0.000%: −$11.64
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Vest: 1 bp × 2 orders: −$2
Net: −$68.9
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 2 min ago; Vest: 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 BloFin live order book, 2 min ago	0.53 bp	8.6 bp −$9	16.0 bp −$160	64.1 bp −$6,413	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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
Gate CRCL_USDT	0.0000%	8h	94.490	−0.011%	$7.2M	$27.5M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.440	−0.063%	$1.0M	$50K	10x	as long as short
QFEX CRCL-USD	+0.0033%	1h	94.440	−0.063%	$1.4M	$2.7M	10x	as long as short
Vest CRCL-USD-PERPshort	+0.0046%	1h	94.390	−0.116%	—	$45K	25x
Aftermath Perps CRCLUSD	+0.0046%	1h	94.446	−0.057%	$2K	$19K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.462	−0.040%	$362K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.452	−0.051%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.300	−0.212%	$1.1M	$5.8M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0056%	8h	94.380	−0.127%	$50K	$1.2M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0080%	1h	94.290	−0.222%	$938K	$742K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit CRCLUSDT	+0.0081%	8h	94.490	−0.011%	$15.5M	$25.9M	50x	as long as short
Variational Omni CRCL	+0.0085%	8h	94.386	−0.121%	$2.5M	$3.2M	—	as long as short
Pacifica CRCL	+0.0100%	1h	94.480	−0.021%	$76K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.450	−0.053%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.260	−0.254%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.440	−0.063%	$942	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.487	−0.014%	$4	—	10x	as long as short
Extended CRCL_24_5-USD	+0.0128%	1h	94.472	−0.030%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0132%	8h	94.470	−0.032%	$108.5M	$388.4M	50x	as long as short
Lighter RH CRCL	+0.0136%	1h	94.502	+0.002%	$891K	$2.9M	10x	as long as short
RISEx CRCL/USDC	+0.0159%	1h	94.475	−0.027%	$431K	$310K	10x	as long as short
Aster CRCLUSDT	+0.0160%	8h	94.444	−0.059%	$1.1M	$4.8M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0173%	8h	94.487	−0.014%	$775	$740	5x	as long as short
Phoenix CRCL	+0.0212%	1h	94.406	−0.099%	$28K	$92K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	94.480	−0.021%	$97K	$275K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0221%	8h	94.480	−0.021%	$22.8M	$60.5M	50x	as long as short
BloFin CRCL-USDTlong	+0.0252%	8h	94.500	long leg	$1.1M	$581K	20x
tradeXYZ xyz:CRCL	+0.0262%	1h	94.445	−0.058%	$70.8M	$42.9M	10x	as long as short
Nado CRCL-PERP	+0.0327%	1h	94.452	−0.051%	$127K	$74K	3x	as long as short
Bitget CRCLUSDT	+0.0327%	8h	94.500	0.000%	$16.7M	$35.1M	25x	as long as short
Lighter CRCL	+0.0384%	1h	94.507	+0.007%	$3.1M	$2.2M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.850	+0.370%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0684%	4h	94.406	−0.099%	$24K	$268K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0703%	1h	94.490	−0.011%	$4K	$771K	10x	as long as short