Funding you earn now, next payment 07:00 UTC−0.0626%/8h= −68.6% APRpaid last 24h −0.083%
Price spread now: Variational Omni against Deribit−0.023%7-day average +0.013% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.206%−$21 on $10k
+Price spread, last 4 days (all we have)+0.025%+$2 · spread now −0.023%, 7d avg +0.013%
=Together, before fees−0.181%+ Points / potential airdropVariational Omni: Active · farm board−$18 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Variational Omni is 0.036% cheaper against Deribit than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.013%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.206% in total (about -20.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit CRCL_USDC-PERPETUAL | 91.390 | 0.0626 | pay 0.0078% / 1h | 30m 31s | $5K | $769K | 10x |
| Short | Variational Omni CRCL | 91.369 | 0 | get 0.0000% / 8h | 1h 30m | $2.4M | $3.2M | — |
Deribit CRCL_USDC-PERPETUAL
Variational Omni CRCLFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$131.49
- Price spread: −0.023% → +0.013%
- −$3.62
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$142.11
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Deribit: live order book, 13 min ago; Variational Omni: RFQ quote, 4 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 Deribit live order book, 13 min ago | 6.02 bp | 9.5 bp −$10 | 13.6 bp −$136 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 4 min ago | 3.47 bp | doesn't fit | 9.4 bp −$94 | 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 | −0.0716% | 8h | 91.430 | +0.044% | $17.4M | $37.0M | 25x | as long as short |
| Vest CRCL-USD-PERP | −0.0087% | 1h | 91.020 | −0.405% | — | $31K | 25x | as long as short |
| Bybit CRCLUSDT | 0.0000% | 8h | 91.370 | −0.022% | $14.6M | $26.6M | 50x | as long as short |
| Gate CRCL_USDT | 0.0000% | 8h | 91.420 | +0.033% | $7.8M | $27.5M | 50x | as long as short |
| Variational Omni CRCLshort | 0.0000% | 8h | 91.369 | −0.023% | $2.4M | $3.2M | — | |
| Phemex CRCLUSDT | 0.0000% | 4h | 91.380 | −0.011% | $1.0M | $48K | 10x | as long as short |
| Lighter RH CRCL | +0.0032% | 1h | 91.412 | +0.024% | $977K | $2.7M | 10x | as long as short |
| Aftermath Perps CRCLUSD | +0.0039% | 1h | 91.278 | −0.123% | $2K | $27K | 5x | as long as short |
| Arcus CRCL-USD | +0.0040% | 1h | 91.290 | −0.109% | $94K | $291K | 10x | as long as short |
| SoDEX CRCL-USD | +0.0050% | 1h | 91.339 | −0.056% | $46K | $3K | 10x | as long as short |
Bitget CRCLUSDT
Vest CRCL-USD-PERP
Bybit CRCLUSDT
Gate CRCL_USDT
Phemex CRCLUSDT
Lighter RH CRCL
Aftermath Perps CRCLUSD
Arcus CRCL-USD
SoDEX CRCL-USDShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps CRCL-USD.P | +0.0050% | 1h | 91.240 | −0.164% | $1.1M | $5.2M | 10x | as long as short |
| Coinbase International CRCL-PERP-INTX | +0.0056% | 1h | 91.200 | −0.208% | $888K | $603K | 10x | as long as short |
| QFEX CRCL-USD | +0.0068% | 1h | 91.360 | −0.033% | $1.3M | $1.8M | 10x | as long as short |
| tradeXYZ xyz:CRCL | +0.0076% | 1h | 91.289 | −0.111% | $67.5M | $44.4M | 10x | as long as short |
| Aster CRCLUSDT | +0.0086% | 8h | 91.417 | +0.030% | $1.0M | $5.1M | 20x | as long as short |
| Extended CRCL_24_5-USD | +0.0096% | 1h | 91.374 | −0.017% | $1.0M | $5.0M | 10x | as long as short |
| Pacifica CRCL | +0.0100% | 1h | 91.357 | −0.036% | $134K | $159K | 10x | as long as short |
| KuCoin CRCLUSDTM | +0.0100% | 8h | 91.320 | −0.077% | $2.7M | $1.8M | 20x | as long as short |
| ApeX Omni CRCLUSDT | +0.0100% | 1h | 91.290 | −0.109% | $67K | $4K | 50x | as long as short |
| Orderly PERP_CRCL_USDC_mythos | +0.0100% | 8h | 91.380 | −0.011% | $911 | $2K | 10x | as long as short |
| Binance CRCLUSDT | +0.0100% | 8h | 91.399 | +0.010% | $104.4M | $397.3M | 50x | as long as short |
| Aevo CRCL-PERP | +0.0104% | 1h | 91.382 | −0.009% | $4 | — | 10x | as long as short |
| Polymarket Perps CRCL-USD | +0.0133% | 1h | 91.316 | −0.081% | $382K | $1.3M | 10x | as long as short |
| Paradex CRCL-USD-PERP | +0.0159% | 8h | 91.372 | −0.020% | $420 | $905 | 5x | as long as short |
| GRVT CRCL_USDT_Perp | +0.0186% | 8h | 91.369 | −0.023% | $67K | $1.1M | 10x | as long as short |
| OKX CRCL-USDT-SWAP | +0.0199% | 8h | 91.420 | +0.033% | $22.2M | $62.6M | 50x | as long as short |
| BloFin CRCL-USDT | +0.0219% | 8h | 91.390 | 0.000% | $1.1M | $1.7M | 20x | as long as short |
| Phoenix CRCL | +0.0245% | 1h | 91.232 | −0.173% | $27K | $82K | 10x | as long as short |
| RISEx CRCL/USDC | +0.0271% | 1h | 91.395 | +0.005% | $416K | $268K | 10x | as long as short |
| Lighter CRCL | +0.0288% | 1h | 91.384 | −0.007% | $2.9M | $2.4M | 10x | as long as short |
| Nado CRCL-PERP | +0.0412% | 1h | 91.302 | −0.096% | $134K | $109K | 3x | as long as short |
| Injective CRCL/USDC PERP | +0.0440% | 1h | 91.720 | +0.361% | $5K | $19K | 30x | as long as short |
| Deribit CRCL_USDC-PERPETUALlong | +0.0626% | 1h | 91.390 | long leg | $5K | $769K | 10x | |
| edgeX CRCLUSDC | +0.0795% | 4h | 91.298 | −0.101% | $52K | $278K | 10x | as long as short |
Ondo Perps CRCL-USD.P
Coinbase International CRCL-PERP-INTX
QFEX CRCL-USD
tradeXYZ xyz:CRCL
Aster CRCLUSDT
Extended CRCL_24_5-USD
Pacifica CRCL
KuCoin CRCLUSDTM
ApeX Omni CRCLUSDT
Orderly PERP_CRCL_USDC_mythos
Binance CRCLUSDT
Aevo CRCL-PERP
Polymarket Perps CRCL-USD
Paradex CRCL-USD-PERP
GRVT CRCL_USDT_Perp
OKX CRCL-USDT-SWAP
BloFin CRCL-USDT
Phoenix CRCL
RISEx CRCL/USDC
Lighter CRCL
Nado CRCL-PERP
Injective CRCL/USDC PERP
edgeX CRCLUSDC