Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0295%/8h= +32.3% APRpaid last 24h +0.141%

Price spread now: edgeX against Vest+0.280%63s7-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 edgeX

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 · edgeX: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and edgeX is 0.280% dearer against Vest than usual: you sell high and buy low: +$28 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest CRCL-USD-PERP	93.840	0.0046	pay 0.0006% / 1h	4m 15s	—	$37K	25x
Short	edgeX CRCLUSDC	94.103	0.0340	get 0.0170% / 4h	3h 04m	$24K	$267K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.280%Rate

Funding earned: $61.87
Price spread: +0.280% → 0.000%: $28.04
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $78.91
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; edgeX: live order book, 3 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 edgeX live order book, 3 min ago	6.38 bp	12.0 bp −$12	24.0 bp −$240	doesn't fit	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
Coinbase International CRCL-PERP-INTX	−0.0064%	1h	94.000	+0.171%	$940K	$620K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	93.900	+0.064%	$15.4M	$25.4M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	94.050	+0.224%	$7.2M	$27.1M	50x	as long as short
Bitget CRCLUSDT	0.0000%	8h	94.010	+0.181%	$16.8M	$34.3M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	93.970	+0.139%	$1.0M	$49K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	93.949	+0.116%	$983K	$2.9M	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0035%	8h	94.270	+0.458%	$62K	$1.1M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	94.018	+0.189%	$2K	$22K	5x	as long as short
QFEX CRCL-USD	+0.0042%	1h	93.960	+0.128%	$1.4M	$2.5M	10x	as long as short
Vest CRCL-USD-PERPlong	+0.0046%	1h	93.840	long leg	—	$37K	25x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CRCL	+0.0050%	1h	93.950	+0.117%	$71.5M	$40.6M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	93.980	+0.149%	$364K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	93.925	+0.091%	$47K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	93.880	+0.043%	$1.1M	$5.7M	10x	as long as short
Variational Omni CRCL	+0.0078%	8h	93.978	+0.147%	$2.5M	$3.1M	—	as long as short
Paradex CRCL-USD-PERP	+0.0099%	8h	93.954	+0.121%	$770	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	93.930	+0.096%	$75K	$96K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	94.020	+0.192%	$3.0M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	94.140	+0.320%	$69K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	94.000	+0.171%	$937	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	93.976	+0.145%	$4	—	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0128%	8h	93.910	+0.075%	$22.7M	$58.7M	50x	as long as short
Extended CRCL_24_5-USD	+0.0152%	1h	93.973	+0.142%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0153%	8h	93.967	+0.135%	$108.8M	$385.2M	50x	as long as short
Aster CRCLUSDT	+0.0156%	8h	94.045	+0.219%	$1.1M	$4.9M	20x	as long as short
Nado CRCL-PERP	+0.0227%	1h	93.852	+0.013%	$131K	$76K	3x	as long as short
BloFin CRCL-USDT	+0.0278%	8h	93.940	+0.107%	$1.1M	$576K	20x	as long as short
Phoenix CRCL	+0.0296%	1h	93.980	+0.149%	$28K	$92K	10x	as long as short
Lighter CRCL	+0.0320%	1h	93.987	+0.157%	$3.0M	$2.3M	10x	as long as short
edgeX CRCLUSDCshort	+0.0340%	4h	94.103	+0.280%	$24K	$267K	10x
Injective CRCL/USDC PERP	+0.0440%	1h	94.670	+0.884%	$5K	$19K	30x	as long as short
Arcus CRCL-USD	+0.0521%	1h	94.030	+0.202%	$96K	$271K	10x	as long as short
RISEx CRCL/USDC	+0.0677%	1h	93.990	+0.160%	$428K	$297K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.1029%	1h	93.970	+0.139%	$4K	$769K	10x	as long as short