Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0273%/8h= +29.9% APRpaid last 24h +0.007%

Price spread now: Bitget against Vest+0.127%7-day average — · you sell dearer than you buy

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

Long on Vest Short on Bitget

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 airdropVest: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Bitget is 0.127% dearer against Vest than usual: you sell high and buy low: +$13 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	Vest CRCL-USD-PERP	94.230	0.0046	pay 0.0006% / 1h	19m 24s	—	$45K	25x
Short	Bitget CRCLUSDT	94.350	0.0319	get 0.0319% / 8h	1h 19m	$16.6M	$35.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Vest. 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 VestbpFee BitgetbpOrdersPrice spread, now +0.127%Rate

Funding earned: $57.4
Price spread: +0.127% → 0.000%: $12.73
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Bitget: 6 bp × 2 orders: −$12
Net: $56.13
Costs to cover: 0.140%
Break-even: 0.2 days

Slippage unknown: Vest: no order-book sample; Bitget: live order book, 5 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 Vest no order-book sample	—	—	—	—	—
Sell Bitget live order book, 5 min ago	1.59 bp	10.7 bp −$11	18.3 bp −$183	71.3 bp −$7,128	doesn't fit

Vest: 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
Gate CRCL_USDT	0.0000%	8h	94.350	+0.127%	$7.2M	$27.6M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	94.310	+0.085%	$1.0M	$50K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	94.322	+0.098%	$889K	$2.9M	10x	as long as short
QFEX CRCL-USD	+0.0033%	1h	94.310	+0.085%	$1.4M	$2.8M	10x	as long as short
Vest CRCL-USD-PERPlong	+0.0046%	1h	94.230	long leg	—	$45K	25x
Aftermath Perps CRCLUSD	+0.0048%	1h	94.334	+0.110%	$2K	$20K	5x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	94.283	+0.056%	$365K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	94.286	+0.059%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	94.260	+0.032%	$1.1M	$5.9M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0080%	1h	94.100	−0.138%	$936K	$740K	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	+0.0080%	8h	94.330	+0.106%	$15.5M	$25.9M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	94.280	+0.053%	$75K	$99K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.340	+0.117%	$3.0M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.240	+0.011%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.330	+0.106%	$940	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	94.312	+0.087%	$4	—	10x	as long as short
Variational Omni CRCL	+0.0132%	8h	94.333	+0.110%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0144%	8h	94.299	+0.074%	$773	$740	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0146%	8h	94.367	+0.145%	$59K	$1.2M	10x	as long as short
RISEx CRCL/USDC	+0.0159%	1h	94.345	+0.122%	$430K	$310K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0168%	1h	94.287	+0.060%	$70.7M	$42.8M	10x	as long as short
Extended CRCL_24_5-USD	+0.0184%	1h	94.288	+0.061%	$1.1M	$3.8M	10x	as long as short
Binance CRCLUSDT	+0.0186%	8h	94.316	+0.091%	$108.5M	$388.4M	50x	as long as short
edgeX CRCLUSDC	+0.0193%	4h	94.358	+0.135%	$24K	$267K	10x	as long as short
Aster CRCLUSDT	+0.0206%	8h	94.330	+0.106%	$1.1M	$4.9M	20x	as long as short
OKX CRCL-USDT-SWAP	+0.0209%	8h	94.330	+0.106%	$22.8M	$60.4M	50x	as long as short
Phoenix CRCL	+0.0212%	1h	94.411	+0.192%	$28K	$92K	10x	as long as short
Arcus CRCL-USD	+0.0214%	1h	94.290	+0.064%	$97K	$275K	10x	as long as short
Nado CRCL-PERP	+0.0257%	1h	94.228	−0.002%	$126K	$73K	3x	as long as short
Lighter CRCL	+0.0288%	1h	94.326	+0.102%	$3.0M	$2.3M	10x	as long as short
BloFin CRCL-USDT	+0.0303%	8h	94.350	+0.127%	$1.1M	$580K	20x	as long as short
Bitget CRCLUSDTshort	+0.0319%	8h	94.350	+0.127%	$16.6M	$35.1M	25x
Injective CRCL/USDC PERP	+0.0440%	1h	94.760	+0.562%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0811%	1h	94.320	+0.096%	$4K	$772K	10x	as long as short