Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0036%/8h= +4.0% APRpaid last 24h +0.010%

Price spread now: Aftermath Perps against Variational Omni+0.050%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Aftermath Perps

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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Aftermath Perps is 0.050% dearer against Variational Omni than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CRCL	91.069	0	get 0.0000% / 8h	2h 16m	$2.4M	$3.2M	—
Short	Aftermath Perps CRCLUSD	91.115	0.0036	get 0.0005% / 1h	16m 55s	$2K	$27K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps 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 Aftermath PerpsbpOrdersPrice spread, now +0.050%Rate

Funding earned: $7.64
Price spread: +0.050% → 0.000%: $5.02
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: $3.66
Costs to cover: 0.090%
Break-even: 3.6 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Aftermath Perps: 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, 2 min ago	3.47 bp	doesn't fit	16.2 bp −$162	doesn't fit	doesn't fit
Sell Aftermath Perps no order-book sample	—	—	—	—	—

Aftermath Perps: 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	−0.1007%	8h	91.360	+0.319%	$16.9M	$36.6M	25x	as long as short
Vest CRCL-USD-PERP	−0.0079%	1h	90.960	−0.120%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.340	+0.298%	$14.6M	$26.9M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.320	+0.276%	$7.6M	$27.6M	50x	as long as short
Variational Omni CRCLlong	0.0000%	8h	91.069	long leg	$2.4M	$3.2M	—
Phemex CRCLUSDT	0.0000%	4h	91.250	+0.199%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0023%	8h	91.344	+0.302%	$1.0M	$5.1M	20x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.296	+0.249%	$973K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSDshort	+0.0036%	1h	91.115	+0.050%	$2K	$27K	5x
Binance CRCLUSDT	+0.0038%	8h	91.280	+0.232%	$103.7M	$396.2M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended CRCL_24_5-USD	+0.0040%	1h	91.256	+0.205%	$1.0M	$5.7M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.140	+0.078%	$93K	$289K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.249	+0.198%	$68.2M	$43.4M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.234	+0.181%	$382K	$1.3M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.268	+0.218%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.210	+0.155%	$1.0M	$5.2M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	91.230	+0.177%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	91.190	+0.133%	$888K	$603K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.230	+0.177%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.220	+0.166%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.220	+0.166%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.280	+0.232%	$910	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.280	+0.232%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0111%	8h	91.236	+0.183%	$420	$905	5x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	91.260	+0.209%	$415K	$293K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0120%	8h	91.310	+0.265%	$65K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0129%	8h	91.330	+0.287%	$22.1M	$62.4M	50x	as long as short
BloFin CRCL-USDT	+0.0152%	8h	91.290	+0.243%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0210%	1h	91.113	+0.048%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0224%	1h	91.309	+0.263%	$2.9M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0313%	1h	91.204	+0.148%	$133K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.760	+0.759%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0627%	1h	91.290	+0.243%	$4K	$768K	10x	as long as short
edgeX CRCLUSDC	+0.0896%	4h	91.103	+0.037%	$52K	$277K	10x	as long as short