Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.021%

Price spread now: Vest against Bybit−0.194%47s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Vest

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 against this trade now: funding costs −$1 a day on $10k at the current rate, and Vest is 0.194% cheaper against Bybit than usual: you would sell low and buy high (−$19 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 47 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	Bybit CRCLUSDT	92.970	0	get 0.0000% / 8h	6h 01m	$15.1M	$25.1M	50x
Short	Vest CRCL-USD-PERP	92.790	−0.0020	pay 0.0003% / 1h	1m 45s	—	$30K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against Bybit. 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 BybitbpFee VestbpOrdersPrice spread, now −0.194%Rate

Funding earned: −$4.23
Price spread: −0.194% → 0.000%: −$19.36
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Vest: 1 bp × 2 orders: −$2
Net: −$36.59
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 5 min ago; Vest: 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 Bybit live order book, 5 min ago	1.08 bp	11.0 bp −$11	20.3 bp −$203	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

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 exchanges

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-PERPshort	−0.0020%	1h	92.790	−0.194%	—	$30K	25x
Bybit CRCLUSDTlong	0.0000%	8h	92.970	long leg	$15.1M	$25.1M	50x
Bitget CRCLUSDT	0.0000%	8h	92.990	+0.022%	$18.2M	$33.7M	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	92.940	−0.032%	$1.0M	$45K	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0008%	1h	92.990	+0.022%	$861K	$702K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	93.000	+0.032%	$1.0M	$2.5M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0042%	1h	92.816	−0.166%	$2K	$29K	5x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	92.882	−0.095%	$67.9M	$40.1M	10x	as long as short
Polymarket Perps CRCL-USD	+0.0050%	1h	93.000	+0.032%	$382K	$847K	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	92.907	−0.068%	$47K	$3K	10x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps CRCL-USD.P	+0.0050%	1h	92.770	−0.215%	$1.0M	$3.8M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0073%	1h	92.910	−0.065%	$5K	$454K	10x	as long as short
QFEX CRCL-USD	+0.0080%	1h	92.980	+0.011%	$1.3M	$1.6M	10x	as long as short
Gate CRCL_USDT	+0.0091%	8h	93.010	+0.043%	$7.5M	$26.2M	50x	as long as short
Pacifica CRCL	+0.0100%	1h	92.890	−0.086%	$139K	$141K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	92.860	−0.118%	$2.6M	$1.6M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	92.870	−0.108%	$68K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	92.920	−0.054%	$926	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	92.961	−0.010%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0131%	8h	92.947	−0.024%	$428	$477	5x	as long as short
Phoenix CRCL	+0.0199%	1h	92.671	−0.322%	$27K	$66K	10x	as long as short
edgeX CRCLUSDC	+0.0201%	4h	92.956	−0.015%	$53K	$269K	10x	as long as short
Lighter CRCL	+0.0256%	1h	93.034	+0.069%	$3.0M	$2.1M	10x	as long as short
Variational Omni CRCL	+0.0303%	8h	92.823	−0.158%	$2.5M	$3.3M	—	as long as short
Nado CRCL-PERP	+0.0318%	1h	92.939	−0.033%	$152K	$92K	3x	as long as short
OKX CRCL-USDT-SWAP	+0.0337%	8h	92.980	+0.011%	$23.0M	$57.2M	50x	as long as short
Arcus CRCL-USD	+0.0368%	1h	92.940	−0.032%	$94K	$214K	10x	as long as short
Aster CRCLUSDT	+0.0380%	8h	92.962	−0.009%	$1.1M	$4.5M	20x	as long as short
Extended CRCL_24_5-USD	+0.0384%	1h	92.925	−0.048%	$1.1M	$4.0M	10x	as long as short
Binance CRCLUSDT	+0.0388%	8h	92.943	−0.029%	$107.5M	$353.8M	50x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.090	−0.947%	$38K	$172K	30x	as long as short
RISEx CRCL/USDC	+0.0479%	1h	92.975	+0.005%	$417K	$240K	10x	as long as short
BloFin CRCL-USDT	+0.0509%	8h	92.980	+0.011%	$1.1M	$1.7M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0795%	8h	92.663	−0.331%	$62K	$1.0M	10x	as long as short