Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.024%

Price spread now: Extended against Variational Omni−0.067%7-day average −0.043% · you buy dearer than you sell

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

Long on Variational Omni Short on Extended

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.044%+$4 on $10k

Price spread, last 7 days+0.014%+$1 · spread now −0.067%, 7d avg −0.043%

Together, before fees+0.058%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board+$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.024% cheaper against Variational Omni than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CRCL	91.818	0	get 0.0000% / 8h	4h 43m	$2.4M	$3.2M	—
Short	Extended CRCL_24_5-USD	91.756	0	get 0.0000% / 1h	43m 17s	$1.1M	$5.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpOrdersPrice spread, now −0.067%Rate

Funding earned: $0
Price spread: −0.067% → −0.043%: −$2.42
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$7.42
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Extended: live order book, 6 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 Variational Omni RFQ quote, 1 min ago	3.46 bp	doesn't fit	18.0 bp −$180	doesn't fit	doesn't fit
Sell Extended live order book, 6 min ago	0.49 bp	5.1 bp −$5	25.1 bp −$251	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	−0.0952%	8h	91.890	+0.078%	$16.2M	$34.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0067%	1h	91.610	−0.227%	—	$31K	25x	as long as short
Aster CRCLUSDT	0.0000%	8h	91.917	+0.108%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USDshort	0.0000%	1h	91.756	−0.067%	$1.1M	$5.6M	10x
Binance CRCLUSDT	0.0000%	8h	91.809	−0.010%	$104.7M	$387.8M	50x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.810	−0.009%	$15.0M	$26.3M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.880	+0.068%	$420K	$298K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.850	+0.035%	$7.3M	$27.0M	50x	as long as short
Variational Omni CRCLlong	0.0000%	8h	91.818	long leg	$2.4M	$3.2M	—
GRVT CRCL_USDT_Perp	0.0000%	8h	91.820	+0.002%	$64K	$1.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex CRCLUSDT	0.0000%	4h	91.830	+0.013%	$1.0M	$49K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0013%	8h	91.810	−0.009%	$22.0M	$60.6M	50x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0016%	1h	91.840	+0.024%	$906K	$491K	10x	as long as short
edgeX CRCLUSDC	+0.0021%	4h	91.784	−0.037%	$51K	$277K	10x	as long as short
QFEX CRCL-USD	+0.0028%	1h	91.870	+0.057%	$1.3M	$2.0M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0029%	1h	91.830	+0.013%	$2K	$24K	5x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.924	+0.115%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.930	+0.122%	$93K	$273K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.759	−0.064%	$68.4M	$41.7M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	91.803	−0.016%	$358K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.779	−0.042%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.750	−0.074%	$992K	$5.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0087%	8h	91.885	+0.073%	$423	$905	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.860	+0.046%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.850	+0.035%	$2.7M	$2.0M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.740	−0.085%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.780	−0.041%	$915	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.761	−0.062%	$4	—	10x	as long as short
BloFin CRCL-USDT	+0.0120%	8h	91.880	+0.068%	$1.1M	$1.3M	20x	as long as short
Phoenix CRCL	+0.0148%	1h	91.817	−0.001%	$27K	$83K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0186%	1h	91.750	−0.074%	$4K	$767K	10x	as long as short
Lighter CRCL	+0.0192%	1h	91.808	−0.011%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0299%	1h	91.844	+0.029%	$131K	$104K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.330	+0.558%	$5K	$19K	30x	as long as short