Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0239%/8h= +26.2% APRpaid last 24h +0.046%

Price spread now: OKX against Vest+0.241%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 OKX

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 +$7 a day on $10k at the current rate, and OKX is 0.241% dearer against Vest than usual: you sell high and buy low: +$24 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	91.390	−0.0082	get 0.0010% / 1h	4m 02s	—	$31K	25x
Short	OKX CRCL-USDT-SWAP	91.610	0.0157	get 0.0157% / 8h	2h 04m	$22.3M	$62.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.241%Rate

Funding earned: $50.19
Price spread: +0.241% → 0.000%: $24.07
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee OKX: 5 bp × 2 orders: −$10
Net: $62.26
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; OKX: 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 OKX live order book, 5 min ago	0.55 bp	7.2 bp −$7	13.7 bp −$137	142.1 bp −$14.2K	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	−0.0844%	8h	91.680	+0.317%	$17.5M	$37.1M	25x	as long as short
Vest CRCL-USD-PERPlong	−0.0082%	1h	91.390	long leg	—	$31K	25x
Bybit CRCLUSDT	0.0000%	8h	91.590	+0.219%	$14.7M	$26.8M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.630	+0.263%	$7.7M	$27.7M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.719	+0.360%	$2.4M	$3.2M	—	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.650	+0.284%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.609	+0.240%	$977K	$2.9M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	91.546	+0.171%	$2K	$27K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.610	+0.241%	$93K	$289K	10x	as long as short
Aster CRCLUSDT	+0.0048%	8h	91.527	+0.150%	$1.0M	$5.1M	20x	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	91.568	+0.195%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.630	+0.263%	$1.1M	$5.2M	10x	as long as short
QFEX CRCL-USD	+0.0054%	1h	91.640	+0.274%	$1.3M	$1.8M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0060%	1h	91.610	+0.241%	$384K	$1.3M	10x	as long as short
Binance CRCLUSDT	+0.0063%	8h	91.592	+0.221%	$104.6M	$397.6M	50x	as long as short
Extended CRCL_24_5-USD	+0.0064%	1h	91.584	+0.212%	$1.0M	$5.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0072%	1h	91.590	+0.219%	$892K	$606K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0079%	1h	91.542	+0.166%	$67.8M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.620	+0.252%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.610	+0.241%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.570	+0.197%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.620	+0.252%	$913	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.613	+0.244%	$4	—	10x	as long as short
RISEx CRCL/USDC	+0.0117%	1h	91.670	+0.306%	$417K	$277K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0147%	8h	91.730	+0.372%	$65K	$1.1M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0151%	8h	91.661	+0.296%	$422	$905	5x	as long as short
OKX CRCL-USDT-SWAPshort	+0.0157%	8h	91.610	+0.241%	$22.3M	$62.7M	50x
BloFin CRCL-USDT	+0.0179%	8h	91.700	+0.339%	$1.1M	$1.6M	20x	as long as short
Phoenix CRCL	+0.0210%	1h	91.654	+0.289%	$27K	$82K	10x	as long as short
Lighter CRCL	+0.0272%	1h	91.615	+0.246%	$2.9M	$2.4M	10x	as long as short
Nado CRCL-PERP	+0.0341%	1h	91.526	+0.149%	$133K	$108K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.150	+0.832%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0515%	1h	91.590	+0.219%	$5K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0609%	4h	91.726	+0.367%	$52K	$277K	10x	as long as short