Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0248%/8h= +27.2% APRpaid last 24h +0.033%

Price spread now: Variational Omni against Vest+0.363%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 Variational Omni

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 · Variational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Variational Omni is 0.363% dearer against Vest than usual: you sell high and buy low: +$36 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	90.850	−0.0096	get 0.0012% / 1h	33m 00s	—	$31K	25x
Short	Variational Omni CRCL	91.180	0.0152	get 0.0152% / 8h	7h 33m	$2.4M	$3.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.363%Rate

Funding earned: $52.1
Price spread: +0.363% → 0.000%: $36.32
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $86.42
Costs to cover: 0.020%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; Variational Omni: RFQ quote, 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 Variational Omni RFQ quote, 1 min ago	3.47 bp	doesn't fit	9.2 bp −$92	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
Vest CRCL-USD-PERPlong	−0.0096%	1h	90.850	long leg	—	$31K	25x
Bitget CRCLUSDT	−0.0066%	8h	91.070	+0.242%	$17.3M	$36.2M	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.060	+0.231%	$15.0M	$26.6M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.090	+0.264%	$7.8M	$26.4M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.060	+0.231%	$1.0M	$47K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.051	+0.221%	$980K	$2.4M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	91.100	+0.275%	$872K	$504K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.103	+0.278%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.000	+0.165%	$94K	$283K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.010	+0.176%	$67.1M	$44.3M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps CRCL-USD	+0.0050%	1h	90.972	+0.134%	$376K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.050	+0.220%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	90.990	+0.154%	$1.1M	$4.7M	10x	as long as short
QFEX CRCL-USD	+0.0065%	1h	91.080	+0.253%	$1.3M	$1.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.020	+0.187%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.060	+0.231%	$2.6M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.120	+0.297%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.040	+0.209%	$908	$1K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0104%	8h	91.175	+0.358%	$71K	$1.1M	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.065	+0.236%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0132%	8h	91.054	+0.225%	$419	$766	5x	as long as short
Variational Omni CRCLshort	+0.0152%	8h	91.180	+0.363%	$2.4M	$3.3M	—
Deribit CRCL_USDC-PERPETUAL	+0.0190%	1h	91.050	+0.220%	$5K	$769K	10x	as long as short
Aster CRCLUSDT	+0.0215%	8h	91.074	+0.246%	$1.0M	$5.0M	20x	as long as short
Lighter CRCL	+0.0216%	1h	91.052	+0.222%	$2.9M	$2.1M	10x	as long as short
Binance CRCLUSDT	+0.0230%	8h	91.032	+0.200%	$104.7M	$386.8M	50x	as long as short
Extended CRCL_24_5-USD	+0.0232%	1h	90.988	+0.152%	$1.1M	$5.1M	10x	as long as short
Phoenix CRCL	+0.0254%	1h	91.098	+0.273%	$27K	$66K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0292%	8h	91.030	+0.198%	$22.3M	$61.3M	50x	as long as short
BloFin CRCL-USDT	+0.0350%	8h	91.020	+0.187%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0370%	1h	90.969	+0.131%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.170	+1.453%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0501%	1h	91.066	+0.237%	$411K	$257K	10x	as long as short
edgeX CRCLUSDC	+0.0936%	4h	91.171	+0.353%	$52K	$270K	10x	as long as short