Funding you earn now, next payment 06:00 UTC−0.0245%/8h= −26.8% APRpaid last 24h −0.032%
Price spread now: Variational Omni against Phoenix−0.079%84s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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 airdropVariational Omni: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Variational Omni is 0.079% cheaper against Phoenix than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 84 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 | Phoenix CRCL | 91.381 | 0.0245 | pay 0.0031% / 1h | 41m 50s | $27K | $82K | 10x |
| Short | Variational Omni CRCL | 91.309 | 0 | get 0.0000% / 8h | 1h 41m | $2.4M | $3.2M | — |
Phoenix CRCL
Variational Omni CRCLFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$51.36
- Price spread: −0.079% → 0.000%
- −$7.88
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$66.23
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Variational Omni: RFQ quote, 2 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Variational Omni RFQ quote, 2 min ago | 3.46 bp | doesn't fit | 10.4 bp −$104 | doesn't fit | doesn't fit |
Phoenix: 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 | −0.0722% | 8h | 91.470 | +0.097% | $17.4M | $37.1M | 25x | as long as short |
| Vest CRCL-USD-PERP | −0.0085% | 1h | 91.070 | −0.340% | — | $31K | 25x | as long as short |
| Bybit CRCLUSDT | 0.0000% | 8h | 91.360 | −0.023% | $14.7M | $26.7M | 50x | as long as short |
| Gate CRCL_USDT | 0.0000% | 8h | 91.370 | −0.012% | $7.8M | $27.4M | 50x | as long as short |
| Variational Omni CRCLshort | 0.0000% | 8h | 91.309 | −0.079% | $2.4M | $3.2M | — | |
| Phemex CRCLUSDT | 0.0000% | 4h | 91.340 | −0.045% | $1.0M | $48K | 10x | as long as short |
| Arcus CRCL-USD | +0.0040% | 1h | 91.330 | −0.056% | $93K | $289K | 10x | as long as short |
| Aftermath Perps CRCLUSD | +0.0040% | 1h | 91.298 | −0.091% | $2K | $27K | 5x | as long as short |
| SoDEX CRCL-USD | +0.0050% | 1h | 91.323 | −0.063% | $46K | $3K | 10x | as long as short |
| Ondo Perps CRCL-USD.P | +0.0050% | 1h | 91.310 | −0.078% | $1.1M | $5.2M | 10x | as long as short |
Bitget CRCLUSDT
Vest CRCL-USD-PERP
Bybit CRCLUSDT
Gate CRCL_USDT
Phemex CRCLUSDT
Arcus CRCL-USD
Aftermath Perps CRCLUSD
SoDEX CRCL-USD
Ondo Perps CRCL-USD.PShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International CRCL-PERP-INTX | +0.0056% | 1h | 91.310 | −0.078% | $889K | $604K | 10x | as long as short |
| QFEX CRCL-USD | +0.0068% | 1h | 91.320 | −0.067% | $1.3M | $1.8M | 10x | as long as short |
| Lighter RH CRCL | +0.0072% | 1h | 91.370 | −0.012% | $976K | $2.7M | 10x | as long as short |
| Aster CRCLUSDT | +0.0079% | 8h | 91.373 | −0.008% | $1.0M | $5.1M | 20x | as long as short |
| Binance CRCLUSDT | +0.0093% | 8h | 91.347 | −0.037% | $104.5M | $397.6M | 50x | as long as short |
| Extended CRCL_24_5-USD | +0.0096% | 1h | 91.315 | −0.072% | $1.0M | $5.5M | 10x | as long as short |
| Pacifica CRCL | +0.0100% | 1h | 91.283 | −0.108% | $134K | $159K | 10x | as long as short |
| KuCoin CRCLUSDTM | +0.0100% | 8h | 91.320 | −0.067% | $2.7M | $1.8M | 20x | as long as short |
| ApeX Omni CRCLUSDT | +0.0100% | 1h | 91.350 | −0.034% | $67K | $4K | 50x | as long as short |
| Orderly PERP_CRCL_USDC_mythos | +0.0100% | 8h | 91.330 | −0.056% | $911 | $2K | 10x | as long as short |
| Aevo CRCL-PERP | +0.0104% | 1h | 91.350 | −0.034% | $4 | — | 10x | as long as short |
| tradeXYZ xyz:CRCL | +0.0117% | 1h | 91.279 | −0.112% | $67.6M | $44.4M | 10x | as long as short |
| Polymarket Perps CRCL-USD | +0.0152% | 1h | 91.314 | −0.073% | $382K | $1.3M | 10x | as long as short |
| Paradex CRCL-USD-PERP | +0.0168% | 8h | 91.321 | −0.066% | $420 | $905 | 5x | as long as short |
| GRVT CRCL_USDT_Perp | +0.0181% | 8h | 91.343 | −0.041% | $67K | $1.1M | 10x | as long as short |
| OKX CRCL-USDT-SWAP | +0.0189% | 8h | 91.410 | +0.032% | $22.2M | $62.7M | 50x | as long as short |
| BloFin CRCL-USDT | +0.0212% | 8h | 91.360 | −0.023% | $1.1M | $1.7M | 20x | as long as short |
| Phoenix CRCLlong | +0.0245% | 1h | 91.381 | long leg | $27K | $82K | 10x | |
| RISEx CRCL/USDC | +0.0271% | 1h | 91.350 | −0.034% | $416K | $268K | 10x | as long as short |
| Lighter CRCL | +0.0304% | 1h | 91.369 | −0.013% | $2.9M | $2.4M | 10x | as long as short |
| Deribit CRCL_USDC-PERPETUAL | +0.0407% | 1h | 91.330 | −0.056% | $5K | $769K | 10x | as long as short |
| Nado CRCL-PERP | +0.0430% | 1h | 91.270 | −0.121% | $134K | $109K | 3x | as long as short |
| Injective CRCL/USDC PERP | +0.0440% | 1h | 91.800 | +0.459% | $5K | $19K | 30x | as long as short |
| edgeX CRCLUSDC | +0.0765% | 4h | 91.348 | −0.036% | $52K | $278K | 10x | as long as short |
Coinbase International CRCL-PERP-INTX
QFEX CRCL-USD
Lighter RH CRCL
Aster CRCLUSDT
Binance CRCLUSDT
Extended CRCL_24_5-USD
Pacifica CRCL
KuCoin CRCLUSDTM
ApeX Omni CRCLUSDT
Orderly PERP_CRCL_USDC_mythos
Aevo CRCL-PERP
tradeXYZ xyz:CRCL
Polymarket Perps CRCL-USD
Paradex CRCL-USD-PERP
GRVT CRCL_USDT_Perp
OKX CRCL-USDT-SWAP
BloFin CRCL-USDT
RISEx CRCL/USDC
Lighter CRCL
Deribit CRCL_USDC-PERPETUAL
Nado CRCL-PERP
Injective CRCL/USDC PERP
edgeX CRCLUSDC