Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0833%/8h= −91.2% APRpaid last 24h −0.158%

Price spread now: Vest against edgeX−0.265%63s7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Vest

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 airdropedgeX: Active · Vest: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$25 a day on $10k at the current rate, and Vest is 0.265% cheaper against edgeX than usual: you would sell low and buy high (−$27 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 63 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	edgeX CRCLUSDC	91.493	0.0752	pay 0.0376% / 4h	51m 52s	$52K	$276K	10x
Short	Vest CRCL-USD-PERP	91.250	−0.0080	pay 0.0010% / 1h	51m 52s	—	$31K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against edgeX. 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 edgeXbpFee VestbpOrdersPrice spread, now −0.265%Rate

Funding earned: −$174.83
Price spread: −0.265% → 0.000%: −$26.51
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Vest: 1 bp × 2 orders: −$2
Net: −$212.34
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 51 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 edgeX live order book, 51 min ago	6.02 bp	11.4 bp −$11	23.8 bp −$238	doesn't fit	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
Bitget CRCLUSDT	−0.0345%	8h	91.660	+0.183%	$17.6M	$37.0M	25x	as long as short
Vest CRCL-USD-PERPshort	−0.0080%	1h	91.250	−0.265%	—	$31K	25x
Gate CRCL_USDT	0.0000%	8h	91.590	+0.107%	$7.8M	$27.2M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.520	+0.030%	$1.0M	$48K	10x	as long as short
Bybit CRCLUSDT	+0.0014%	8h	91.610	+0.128%	$14.8M	$26.6M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.591	+0.108%	$979K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	91.493	0.000%	$2K	$28K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.500	+0.008%	$97K	$293K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.536	+0.047%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.420	−0.079%	$1.1M	$5.0M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni CRCL	+0.0066%	8h	91.488	−0.005%	$2.4M	$3.3M	—	as long as short
QFEX CRCL-USD	+0.0071%	1h	91.490	−0.003%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.400	−0.101%	$890K	$420K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.538	+0.050%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.610	+0.128%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.470	−0.025%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.530	+0.041%	$913	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.550	+0.063%	$4	—	10x	as long as short
Aster CRCLUSDT	+0.0148%	8h	91.597	+0.114%	$1.0M	$5.0M	20x	as long as short
tradeXYZ xyz:CRCL	+0.0155%	1h	91.533	+0.044%	$67.8M	$43.8M	10x	as long as short
Extended CRCL_24_5-USD	+0.0160%	1h	91.556	+0.069%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0162%	8h	91.589	+0.105%	$105.2M	$394.9M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0180%	8h	91.496	+0.004%	$421	$905	5x	as long as short
Polymarket Perps CRCL-USD	+0.0192%	1h	91.548	+0.061%	$379K	$1.3M	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.481	−0.013%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0231%	8h	91.548	+0.060%	$69K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0246%	8h	91.610	+0.128%	$22.3M	$62.1M	50x	as long as short
Lighter CRCL	+0.0264%	1h	91.566	+0.080%	$2.9M	$2.3M	10x	as long as short
BloFin CRCL-USDT	+0.0281%	8h	91.460	−0.036%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0413%	1h	91.434	−0.064%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.010	+0.566%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.555	+0.068%	$410K	$270K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0515%	1h	91.540	+0.052%	$5K	$769K	10x	as long as short
edgeX CRCLUSDClong	+0.0752%	4h	91.493	long leg	$52K	$276K	10x