Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0136%/8h= +14.9% APRpaid last 24h +0.014%

Price spread now: GRVT against Vest+0.261%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 GRVT

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 · GRVT: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and GRVT is 0.261% dearer against Vest than usual: you sell high and buy low: +$26 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	91.780	−0.0068	get 0.0008% / 1h	46m 57s	—	$31K	25x
Short	GRVT CRCL_USDT_Perp	92.019	0.0068	get 0.0068% / 8h	3h 46m	$70K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.261%Rate

Funding earned: $28.51
Price spread: +0.261% → 0.000%: $26.09
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $43.6
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; GRVT: live order book, 1 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 GRVT live order book, 1 min ago	0.54 bp	8.5 bp −$9	12.6 bp −$126	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
Bitget CRCLUSDT	−0.0698%	8h	92.040	+0.283%	$16.8M	$35.5M	25x	as long as short
Vest CRCL-USD-PERPlong	−0.0068%	1h	91.780	long leg	—	$31K	25x
Bybit CRCLUSDT	0.0000%	8h	92.000	+0.240%	$14.9M	$26.5M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.050	+0.294%	$7.3M	$27.2M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	92.019	+0.260%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.040	+0.283%	$1.0M	$48K	10x	as long as short
Aster CRCLUSDT	+0.0012%	8h	92.022	+0.264%	$1.1M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0016%	1h	91.954	+0.190%	$1.1M	$5.7M	10x	as long as short
Binance CRCLUSDT	+0.0018%	8h	91.950	+0.185%	$104.7M	$390.8M	50x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	92.013	+0.254%	$2K	$25K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus CRCL-USD	+0.0040%	1h	92.020	+0.261%	$93K	$272K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0048%	1h	91.890	+0.120%	$907K	$491K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.896	+0.126%	$68.2M	$41.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	92.011	+0.252%	$359K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.948	+0.183%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.940	+0.174%	$1.0M	$5.2M	10x	as long as short
QFEX CRCL-USD	+0.0060%	1h	92.010	+0.251%	$1.3M	$1.9M	10x	as long as short
GRVT CRCL_USDT_Perpshort	+0.0068%	8h	92.019	+0.261%	$70K	$1.1M	10x
OKX CRCL-USDT-SWAP	+0.0069%	8h	92.000	+0.240%	$22.3M	$61.6M	50x	as long as short
BloFin CRCL-USDT	+0.0070%	8h	92.040	+0.283%	$1.1M	$1.3M	20x	as long as short
Lighter RH CRCL	+0.0072%	1h	91.980	+0.218%	$975K	$2.9M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	92.049	+0.293%	$135K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.960	+0.196%	$2.7M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.960	+0.196%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.040	+0.283%	$918	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.986	+0.224%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0107%	1h	92.035	+0.278%	$418K	$299K	10x	as long as short
Paradex CRCL-USD-PERP	+0.0133%	8h	92.036	+0.279%	$423	$905	5x	as long as short
Phoenix CRCL	+0.0182%	1h	92.006	+0.246%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0296%	1h	91.987	+0.226%	$3.0M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0387%	1h	91.985	+0.224%	$134K	$106K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0402%	1h	92.030	+0.272%	$4K	$768K	10x	as long as short
edgeX CRCLUSDC	+0.0440%	4h	91.999	+0.239%	$51K	$276K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.550	+0.839%	$5K	$19K	30x	as long as short