Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.021%

Price spread now: Aevo against Variational Omni−0.046%48s7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Aevo

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 airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Aevo is 0.046% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.046% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 35 hours of funding at the current rate (+$3 a day). The two prices were read 48 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	Variational Omni CRCL	94.532	0	get 0.0000% / 8h	2h 20m	$2.5M	$3.2M	—
Short	Aevo CRCL-PERP	94.488	0.0104	get 0.0013% / 1h	20m 42s	$4	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Variational Omni. 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 Variational OmnibpFee AevobpOrdersPrice spread, now −0.046%Rate

Funding earned: $21.84
Price spread: −0.046% → 0.000%: −$4.57
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Aevo: 8 bp × 2 orders: −$16
Net: $1.27
Costs to cover: 0.160%
Break-even: 6.6 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Aevo: 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 Variational Omni RFQ quote, 3 min ago	3.42 bp	doesn't fit	21.7 bp −$217	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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
RISEx CRCL/USDC	0.0000%	1h	94.485	−0.049%	$431K	$310K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.500	−0.034%	$7.2M	$27.8M	50x	as long as short
Variational Omni CRCLlong	0.0000%	8h	94.532	long leg	$2.5M	$3.2M	—
GRVT CRCL_USDT_Perp	0.0000%	8h	94.521	−0.012%	$50K	$1.2M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.520	−0.012%	$1.0M	$50K	10x	as long as short
Extended CRCL_24_5-USD	+0.0008%	1h	94.479	−0.056%	$1.1M	$3.8M	10x	as long as short
edgeX CRCLUSDC	+0.0009%	4h	94.562	+0.032%	$24K	$267K	10x	as long as short
Binance CRCLUSDT	+0.0019%	8h	94.490	−0.044%	$108.5M	$389.3M	50x	as long as short
QFEX CRCL-USD	+0.0020%	1h	94.460	−0.076%	$1.4M	$2.7M	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.512	−0.021%	$882K	$2.9M	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	+0.0040%	8h	94.500	−0.034%	$15.5M	$25.9M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0044%	1h	94.509	−0.024%	$2K	$19K	5x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.420	−0.118%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.497	−0.037%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.473	−0.062%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.400	−0.139%	$1.1M	$5.9M	10x	as long as short
Aster CRCLUSDT	+0.0056%	8h	94.520	−0.012%	$1.1M	$4.8M	20x	as long as short
BloFin CRCL-USDT	+0.0060%	8h	94.530	−0.002%	$1.1M	$589K	20x	as long as short
tradeXYZ xyz:CRCL	+0.0076%	1h	94.454	−0.082%	$70.9M	$42.9M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	94.430	−0.108%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.400	−0.139%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.290	−0.256%	$69K	$5K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.470	−0.065%	$942	$3K	10x	as long as short
Aevo CRCL-PERPshort	+0.0104%	1h	94.488	−0.046%	$4	—	10x
Paradex CRCL-USD-PERP	+0.0135%	8h	94.523	−0.009%	$718	$428	5x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0144%	1h	94.390	−0.150%	$939K	$743K	10x	as long as short
Nado CRCL-PERP	+0.0219%	1h	94.421	−0.117%	$127K	$73K	3x	as long as short
Phoenix CRCL	+0.0228%	1h	94.600	+0.072%	$28K	$92K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0232%	8h	94.480	−0.055%	$22.8M	$60.7M	50x	as long as short
Lighter CRCL	+0.0296%	1h	94.525	−0.007%	$3.1M	$2.4M	10x	as long as short
Bitget CRCLUSDT	+0.0340%	8h	94.500	−0.034%	$16.8M	$35.2M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	94.830	+0.316%	$5K	$20K	30x	as long as short
Arcus CRCL-USD	+0.0560%	1h	94.490	−0.044%	$97K	$274K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.1127%	1h	94.550	+0.019%	$4K	$771K	10x	as long as short