Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0257%/8h= +28.1% APRpaid last 24h +0.074%

Price spread now: BloFin against Vest+0.328%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 BloFin

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 BloFin is 0.328% dearer against Vest than usual: you sell high and buy low: +$33 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	91.450	−0.0081	get 0.0010% / 1h	6m 49s	—	$31K	25x
Short	BloFin CRCL-USDT	91.750	0.0176	get 0.0176% / 8h	2h 06m	$1.1M	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.328%Rate

Funding earned: $53.91
Price spread: +0.328% → 0.000%: $32.8
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee BloFin: 6 bp × 2 orders: −$12
Net: $72.72
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; BloFin: 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 Vest no order-book sample	—	—	—	—	—
Sell BloFin live order book, 6 min ago	1.64 bp	9.2 bp −$9	11.9 bp −$119	30.8 bp −$3,082	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
Bitget CRCLUSDT	−0.0899%	8h	91.720	+0.295%	$17.2M	$36.9M	25x	as long as short
Vest CRCL-USD-PERPlong	−0.0081%	1h	91.450	long leg	—	$31K	25x
Bybit CRCLUSDT	0.0000%	8h	91.650	+0.219%	$14.7M	$26.8M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.670	+0.241%	$7.7M	$27.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.539	+0.097%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.670	+0.241%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.658	+0.227%	$977K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.491	+0.045%	$2K	$27K	5x	as long as short
Aster CRCLUSDT	+0.0038%	8h	91.550	+0.110%	$1.0M	$5.1M	20x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.560	+0.120%	$93K	$289K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX CRCL-USD	+0.0050%	1h	91.657	+0.226%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.570	+0.131%	$1.1M	$5.2M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0053%	1h	91.723	+0.299%	$384K	$1.3M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	91.720	+0.295%	$1.3M	$1.8M	10x	as long as short
Binance CRCLUSDT	+0.0056%	8h	91.650	+0.219%	$104.7M	$397.5M	50x	as long as short
Extended CRCL_24_5-USD	+0.0056%	1h	91.614	+0.179%	$1.0M	$5.7M	10x	as long as short
tradeXYZ xyz:CRCL	+0.0071%	1h	91.599	+0.163%	$67.9M	$44.3M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	91.590	+0.153%	$892K	$606K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.720	+0.295%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.570	+0.131%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.470	+0.022%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.710	+0.284%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.696	+0.269%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	91.735	+0.312%	$418K	$283K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0134%	8h	91.536	+0.094%	$65K	$1.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0142%	8h	91.725	+0.300%	$422	$905	5x	as long as short
OKX CRCL-USDT-SWAP	+0.0153%	8h	91.670	+0.241%	$22.3M	$62.8M	50x	as long as short
BloFin CRCL-USDTshort	+0.0176%	8h	91.750	+0.328%	$1.1M	$1.6M	20x
Phoenix CRCL	+0.0210%	1h	91.699	+0.272%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0256%	1h	91.661	+0.231%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0334%	1h	91.626	+0.193%	$134K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.150	+0.765%	$5K	$19K	30x	as long as short
edgeX CRCLUSDC	+0.0552%	4h	91.496	+0.050%	$52K	$277K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.1060%	1h	91.720	+0.295%	$4K	$768K	10x	as long as short