Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.019%

Price spread now: Orderly against Vest+0.307%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 Orderly

What this pair did over the last

the charts below follow

Funding, last 4 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 +$5 a day on $10k at the current rate, and Orderly is 0.307% dearer against Vest than usual: you sell high and buy low: +$31 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	91.250	−0.0080	get 0.0010% / 1h	51m 50s	—	$31K	25x
Short	Orderly PERP_CRCL_USDC_mythos	91.530	0.0100	get 0.0100% / 8h	51m 50s	$913	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.307%Rate

Funding earned: $37.85
Price spread: +0.307% → 0.000%: $30.68
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Orderly: 3 bp × 2 orders: −$6
Net: $60.54
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

Vest and Orderly: 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	−0.0345%	8h	91.630	+0.416%	$17.6M	$37.0M	25x	as long as short
Vest CRCL-USD-PERPlong	−0.0080%	1h	91.250	long leg	—	$31K	25x
Gate CRCL_USDT	0.0000%	8h	91.650	+0.438%	$7.8M	$27.3M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.520	+0.296%	$1.0M	$48K	10x	as long as short
Bybit CRCLUSDT	+0.0017%	8h	91.520	+0.296%	$14.8M	$26.6M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.551	+0.330%	$978K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	91.493	+0.266%	$2K	$28K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.500	+0.274%	$97K	$293K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.536	+0.313%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.420	+0.186%	$1.1M	$5.0M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni CRCL	+0.0066%	8h	91.488	+0.261%	$2.4M	$3.3M	—	as long as short
QFEX CRCL-USD	+0.0071%	1h	91.490	+0.263%	$1.3M	$1.8M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.400	+0.164%	$890K	$420K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.519	+0.294%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.610	+0.395%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.470	+0.241%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythosshort	+0.0100%	8h	91.530	+0.307%	$913	$2K	10x
Aevo CRCL-PERP	+0.0104%	1h	91.550	+0.329%	$4	—	10x	as long as short
Aster CRCLUSDT	+0.0148%	8h	91.535	+0.312%	$1.0M	$5.0M	20x	as long as short
tradeXYZ xyz:CRCL	+0.0158%	1h	91.447	+0.216%	$67.7M	$43.8M	10x	as long as short
Extended CRCL_24_5-USD	+0.0160%	1h	91.556	+0.335%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0164%	8h	91.518	+0.294%	$105.1M	$394.8M	50x	as long as short
Paradex CRCL-USD-PERP	+0.0180%	8h	91.496	+0.270%	$421	$905	5x	as long as short
Polymarket Perps CRCL-USD	+0.0192%	1h	91.548	+0.327%	$379K	$1.3M	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.481	+0.253%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0231%	8h	91.548	+0.326%	$69K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0246%	8h	91.530	+0.307%	$22.2M	$62.1M	50x	as long as short
Lighter CRCL	+0.0264%	1h	91.537	+0.315%	$2.9M	$2.3M	10x	as long as short
BloFin CRCL-USDT	+0.0281%	8h	91.460	+0.230%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0413%	1h	91.434	+0.201%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.010	+0.833%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.555	+0.334%	$410K	$270K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0515%	1h	91.540	+0.318%	$5K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0752%	4h	91.493	+0.266%	$52K	$276K	10x	as long as short