Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0120%/8hnext payment −$1.20 per $10,000 · paid last 24h +0.043%

Price spread now: Gate against Variational Omni−0.040%7-day average +0.033% · you buy dearer than you sell

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

Long on Variational Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.019%+$2 on $10k

Price spread, last 7 days+0.051%+$5 · spread now −0.040%, 7d avg +0.033%

Together, before fees+0.070%+ Points / potential airdropVariational Omni: Active · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Gate is 0.074% cheaper against Variational Omni than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.033%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CRCL	94.688	0.0120	pay 0.0120% / 8h	4h 14m	$2.5M	$3.2M	—
Short	Gate CRCL_USDT	94.650	0	get 0.0000% / 8h	4h 14m	$7.1M	$26.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.040%Rate

Funding earned: −$25.27
Price spread: −0.040% → +0.033%: −$7.37
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$47.64
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Gate: live order book, 4 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, 4 min ago	3.42 bp	doesn't fit	18.4 bp −$184	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	1.06 bp	12.3 bp −$12	21.6 bp −$216	96.7 bp −$9,671	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
Gate CRCL_USDTshort	0.0000%	8h	94.650	−0.040%	$7.1M	$26.8M	50x
Phemex CRCLUSDT	0.0000%	4h	94.690	+0.002%	$1.0M	$49K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.652	−0.038%	$814K	$2.8M	10x	as long as short
Vest CRCL-USD-PERP	+0.0046%	1h	94.570	−0.125%	—	$45K	25x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.608	−0.085%	$356K	$1.0M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.685	−0.004%	$48K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.550	−0.146%	$1.1M	$5.8M	10x	as long as short
QFEX CRCL-USD	+0.0071%	1h	94.640	−0.051%	$1.4M	$2.6M	10x	as long as short
Bybit CRCLUSDT	+0.0077%	8h	94.680	−0.009%	$15.5M	$25.5M	50x	as long as short
tradeXYZ xyz:CRCL	+0.0081%	1h	94.630	−0.062%	$71.0M	$41.3M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex CRCL-USD-PERP	+0.0098%	8h	94.630	−0.062%	$719	$428	5x	as long as short
Pacifica CRCL	+0.0100%	1h	94.630	−0.062%	$77K	$97K	10x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.700	+0.012%	$70K	$5K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.660	−0.030%	$944	$3K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0104%	8h	94.877	+0.200%	$54K	$1.2M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.685	−0.004%	$4	—	10x	as long as short
KuCoin CRCLUSDTM	+0.0116%	8h	94.640	−0.051%	$2.9M	$1.7M	20x	as long as short
Variational Omni CRCLlong	+0.0120%	8h	94.688	long leg	$2.5M	$3.2M	—
Coinbase International CRCL-PERP-INTX	+0.0144%	1h	94.450	−0.252%	$944K	$727K	10x	as long as short
Aster CRCLUSDT	+0.0161%	8h	94.660	−0.030%	$1.1M	$4.7M	20x	as long as short
Phoenix CRCL	+0.0162%	1h	94.796	+0.114%	$28K	$92K	10x	as long as short
Extended CRCL_24_5-USD	+0.0168%	1h	94.664	−0.025%	$1.2M	$3.5M	10x	as long as short
Binance CRCLUSDT	+0.0170%	8h	94.672	−0.017%	$108.8M	$377.8M	50x	as long as short
RISEx CRCL/USDC	+0.0224%	1h	94.669	−0.021%	$420K	$301K	10x	as long as short
BloFin CRCL-USDT	+0.0288%	8h	94.680	−0.009%	$1.1M	$575K	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0291%	8h	94.670	−0.019%	$22.9M	$59.4M	50x	as long as short
Lighter CRCL	+0.0312%	1h	94.673	−0.016%	$2.9M	$2.1M	10x	as long as short
Nado CRCL-PERP	+0.0324%	1h	94.575	−0.120%	$132K	$67K	3x	as long as short
Aftermath Perps CRCLUSD	+0.0361%	1h	94.686	−0.002%	$2K	$17K	5x	as long as short
Bitget CRCLUSDT	+0.0419%	8h	94.700	+0.012%	$16.9M	$34.4M	25x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	95.020	+0.350%	$5K	$20K	30x	as long as short
edgeX CRCLUSDC	+0.0596%	4h	94.768	+0.084%	$24K	$267K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0702%	1h	94.670	−0.019%	$4K	$802K	10x	as long as short
Arcus CRCL-USD	+0.0748%	1h	94.630	−0.062%	$102K	$257K	10x	as long as short