Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0179%/8h= −19.6% APRpaid last 24h −0.063%

Price spread now: Vest against OKX−0.094%7-day average — · you buy dearer than you sell

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

Long on OKX 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 airdropVest: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Vest is 0.094% cheaper against OKX than usual: you would sell low and buy high (−$9 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	OKX CRCL-USDT-SWAP	95.970	0.0225	pay 0.0225% / 8h	4h 45m	$23.8M	$68.4M	50x
Short	Vest CRCL-USD-PERP	95.880	0.0046	get 0.0006% / 1h	45m 31s	—	$29K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against OKX. 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 OKXbpFee VestbpOrdersPrice spread, now −0.094%Rate

Funding earned: −$37.6
Price spread: −0.094% → 0.000%: −$9.38
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Vest: 1 bp × 2 orders: −$2
Net: −$58.98
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 1 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 OKX live order book, 1 min ago	0.52 bp	7.7 bp −$8	15.9 bp −$159	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 exchanges

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
Coinbase International CRCL-PERP-INTX	−0.0024%	1h	95.800	−0.177%	$874K	$807K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	95.950	−0.021%	$16.0M	$29.4M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	95.900	−0.073%	$437K	$232K	10x	as long as short
Bitget CRCLUSDT	0.0000%	8h	95.940	−0.031%	$19.2M	$39.3M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	95.780	−0.198%	$1.1M	$47K	10x	as long as short
QFEX CRCL-USD	+0.0014%	1h	95.930	−0.042%	$1.4M	$1.7M	10x	as long as short
Gate CRCL_USDT	+0.0025%	8h	95.970	0.000%	$7.8M	$26.7M	50x	as long as short
Injective CRCL/USDC PERP	+0.0033%	1h	95.630	−0.354%	$39K	$172K	30x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	95.488	−0.502%	$2K	$29K	5x	as long as short
Vest CRCL-USD-PERPshort	+0.0046%	1h	95.880	−0.094%	—	$29K	25x

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	95.790	−0.188%	$1.1M	$4.4M	10x	as long as short
Arcus CRCL-USD	+0.0057%	1h	95.880	−0.094%	$99K	$242K	10x	as long as short
Lighter RH CRCL	+0.0064%	1h	95.933	−0.039%	$1.0M	$2.7M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0094%	1h	95.858	−0.117%	$69.6M	$44.5M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	95.938	−0.034%	$143K	$151K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	95.800	−0.177%	$2.5M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	95.390	−0.604%	$98K	$26K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	95.770	−0.208%	$755	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	95.743	−0.237%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0132%	8h	95.919	−0.054%	$441	$477	5x	as long as short
Phoenix CRCL	+0.0136%	1h	95.400	−0.594%	$29K	$94K	10x	as long as short
Variational Omni CRCL	+0.0172%	8h	95.761	−0.218%	$2.7M	$3.4M	—	as long as short
OKX CRCL-USDT-SWAPlong	+0.0225%	8h	95.970	long leg	$23.8M	$68.4M	50x
edgeX CRCLUSDC	+0.0236%	4h	95.429	−0.564%	$55K	$279K	10x	as long as short
Extended CRCL_24_5-USD	+0.0272%	1h	95.911	−0.061%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0281%	8h	95.930	−0.042%	$112.4M	$398.3M	50x	as long as short
Aster CRCLUSDT	+0.0299%	8h	95.920	−0.052%	$1.2M	$4.8M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0331%	8h	95.986	+0.017%	$56K	$1.0M	10x	as long as short
BloFin CRCL-USDT	+0.0384%	8h	96.000	+0.031%	$1.2M	$1.8M	20x	as long as short
Nado CRCL-PERP	+0.0406%	1h	95.806	−0.171%	$154K	$93K	3x	as long as short
Polymarket Perps CRCL-USD	+0.0429%	1h	95.925	−0.047%	$304K	$1.4M	10x	as long as short
Lighter CRCL	+0.0448%	1h	95.980	+0.010%	$3.3M	$2.5M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0796%	1h	95.740	−0.240%	$5K	$415K	10x	as long as short
SoDEX CRCL-USD	+0.1736%	1h	95.741	−0.239%	$48K	$3K	10x	as long as short