Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0078%/8h= +8.5% APRpaid last 24h +0.003%

Price spread now: Variational Omni against SoDEX−0.011%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on Variational Omni

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 airdropVariational Omni: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX CRCL-USD	91.204	0.0050	pay 0.0006% / 1h	6m 47s	$46K	$3K	10x
Short	Variational Omni CRCL	91.194	0.0128	get 0.0128% / 8h	6m 47s	$2.4M	$3.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against SoDEX. 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 SoDEXbpFee Variational OmnibpOrdersPrice spread, now −0.011%Rate

Funding earned: $16.32
Price spread: −0.011% → 0.000%: −$1.14
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $7.18
Costs to cover: 0.080%
Break-even: 3.9 days

Slippage unknown: SoDEX: 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 SoDEX 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

SoDEX: 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	−0.0355%	8h	91.300	+0.105%	$17.3M	$36.7M	25x	as long as short
Vest CRCL-USD-PERP	−0.0083%	1h	90.910	−0.322%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.280	+0.083%	$7.8M	$28.0M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.250	+0.050%	$1.0M	$48K	10x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.235	+0.034%	$983K	$2.6M	10x	as long as short
Aftermath Perps CRCLUSD	+0.0037%	1h	91.170	−0.038%	$2K	$29K	5x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.180	−0.026%	$95K	$296K	10x	as long as short
SoDEX CRCL-USDlong	+0.0050%	1h	91.204	long leg	$46K	$3K	10x
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.150	−0.059%	$1.1M	$4.8M	10x	as long as short
Bybit CRCLUSDT	+0.0062%	8h	91.280	+0.083%	$14.8M	$26.5M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CRCL-USD	+0.0071%	1h	91.170	−0.037%	$1.3M	$1.7M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.070	−0.147%	$871K	$500K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0089%	1h	91.157	−0.052%	$67.2M	$44.3M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.239	+0.039%	$134K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.240	+0.039%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.120	−0.092%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.210	+0.007%	$909	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.228	+0.026%	$4	—	10x	as long as short
Variational Omni CRCLshort	+0.0128%	8h	91.194	−0.011%	$2.4M	$3.3M	—
Polymarket Perps CRCL-USD	+0.0152%	1h	91.209	+0.005%	$377K	$1.3M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0157%	8h	91.210	+0.006%	$420	$905	5x	as long as short
Aster CRCLUSDT	+0.0195%	8h	91.277	+0.080%	$1.0M	$5.0M	20x	as long as short
Extended CRCL_24_5-USD	+0.0208%	1h	91.205	+0.002%	$1.0M	$5.0M	10x	as long as short
Binance CRCLUSDT	+0.0211%	8h	91.240	+0.039%	$104.8M	$389.3M	50x	as long as short
Phoenix CRCL	+0.0227%	1h	91.187	−0.019%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0250%	8h	91.217	+0.014%	$70K	$1.1M	10x	as long as short
Lighter CRCL	+0.0256%	1h	91.273	+0.076%	$2.9M	$2.4M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0285%	8h	91.280	+0.083%	$22.3M	$61.7M	50x	as long as short
BloFin CRCL-USDT	+0.0331%	8h	91.250	+0.050%	$1.1M	$1.7M	20x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0408%	1h	91.190	−0.015%	$5K	$769K	10x	as long as short
Nado CRCL-PERP	+0.0433%	1h	91.131	−0.080%	$133K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.740	+0.588%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.224	+0.022%	$412K	$268K	10x	as long as short
edgeX CRCLUSDC	+0.0810%	4h	91.207	+0.003%	$52K	$269K	10x	as long as short