Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.001%

Price spread now: Variational Omni against Pacifica+0.107%7-day average +0.016% · you sell dearer than you buy

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

Long on Pacifica Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.097%−$10 on $10k

Price spread, last 4 days (all we have)−0.585%−$59 · spread now +0.107%, 7d avg +0.016%

Together, before fees−0.683%+ Points / potential airdropPacifica: Active · Variational Omni: Active · farm board−$68 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.091% dearer against Pacifica than usual: you sell high and buy low (spread +0.107% now, against its 7-day average of +0.016%): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica CRCL	92.100	0.0100	pay 0.0013% / 1h	56m 39s	$135K	$159K	10x
Short	Variational Omni CRCL	92.199	0	get 0.0000% / 8h	3h 56m	$2.5M	$3.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Pacifica. 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 PacificabpFee Variational OmnibpOrdersPrice spread, now +0.107%Rate

Funding earned: −$21
Price spread: +0.107% → +0.016%: $9.12
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$19.88
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Pacifica: live order book, 42 min ago; Variational Omni: RFQ quote, 2 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 Pacifica live order book, 42 min ago	8.19 bp	19.1 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	3.45 bp	doesn't fit	6.6 bp −$66	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	−0.0749%	8h	92.210	+0.119%	$16.7M	$35.4M	25x	as long as short
Vest CRCL-USD-PERP	−0.0068%	1h	92.000	−0.109%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	92.150	+0.054%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.210	+0.119%	$7.3M	$27.2M	50x	as long as short
Variational Omni CRCLshort	0.0000%	8h	92.199	+0.107%	$2.5M	$3.2M	—
Phemex CRCLUSDT	0.0000%	4h	92.210	+0.119%	$1.0M	$48K	10x	as long as short
Extended CRCL_24_5-USD	+0.0008%	1h	92.135	+0.038%	$1.1M	$5.7M	10x	as long as short
Aster CRCLUSDT	+0.0009%	8h	92.148	+0.052%	$1.1M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0010%	8h	92.160	+0.065%	$105.0M	$390.4M	50x	as long as short
BloFin CRCL-USDT	+0.0029%	8h	92.270	+0.185%	$1.1M	$1.3M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	92.219	+0.129%	$976K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0039%	1h	92.152	+0.057%	$2K	$25K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	92.160	+0.065%	$94K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	92.090	−0.011%	$909K	$492K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0049%	8h	92.264	+0.178%	$64K	$1.1M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.133	+0.036%	$68.6M	$41.9M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.214	+0.124%	$360K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.231	+0.142%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.080	−0.022%	$1.0M	$5.2M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0054%	8h	92.180	+0.087%	$22.3M	$61.6M	50x	as long as short
QFEX CRCL-USD	+0.0060%	1h	92.150	+0.054%	$1.3M	$2.0M	10x	as long as short
Pacifica CRCLlong	+0.0100%	1h	92.100	long leg	$135K	$159K	10x
KuCoin CRCLUSDTM	+0.0100%	8h	92.210	+0.119%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.170	+0.076%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.240	+0.152%	$920	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.245	+0.158%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	92.180	+0.087%	$419K	$299K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0124%	8h	92.147	+0.051%	$424	$905	5x	as long as short
Phoenix CRCL	+0.0148%	1h	92.219	+0.129%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0280%	1h	92.218	+0.128%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0351%	1h	92.165	+0.071%	$131K	$105K	3x	as long as short
edgeX CRCLUSDC	+0.0429%	4h	92.238	+0.149%	$51K	$275K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.660	+0.608%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0618%	1h	92.240	+0.152%	$4K	$768K	10x	as long as short