Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0028%/8h= +3.0% APRpaid last 24h +0.001%

Price spread now: ApeX Omni against Variational Omni−0.019%88s7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on ApeX 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 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: +$1 a day on $10k at the current rate. The two prices were read 88 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	Variational Omni CRCL	91.477	0.0072	pay 0.0072% / 8h	48m 06s	$2.4M	$3.3M	—
Short	ApeX Omni CRCLUSDT	91.460	0.0100	get 0.0013% / 1h	48m 06s	$67K	$4K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now −0.019%Rate

Funding earned: $5.84
Price spread: −0.019% → 0.000%: −$1.88
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$6.04
Costs to cover: 0.100%
Break-even: 14.2 days

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; ApeX Omni: 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 Variational Omni RFQ quote, 1 min ago	3.46 bp	doesn't fit	19.8 bp −$198	doesn't fit	doesn't fit
Sell ApeX Omni no order-book sample	—	—	—	—	—

ApeX Omni: 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	−0.0334%	8h	91.760	+0.309%	$17.6M	$36.9M	25x	as long as short
Vest CRCL-USD-PERP	−0.0080%	1h	91.410	−0.073%	—	$31K	25x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.750	+0.298%	$7.8M	$27.3M	50x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.690	+0.233%	$1.0M	$48K	10x	as long as short
Bybit CRCLUSDT	+0.0018%	8h	91.720	+0.265%	$14.8M	$26.6M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.726	+0.272%	$980K	$2.6M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.560	+0.091%	$97K	$293K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0040%	1h	91.606	+0.140%	$2K	$28K	5x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.705	+0.249%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.590	+0.123%	$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
QFEX CRCL-USD	+0.0071%	1h	91.690	+0.233%	$1.3M	$1.8M	10x	as long as short
Variational Omni CRCLlong	+0.0072%	8h	91.477	long leg	$2.4M	$3.3M	—
Coinbase International CRCL-PERP-INTX	+0.0088%	1h	91.400	−0.084%	$890K	$415K	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.684	+0.226%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.620	+0.156%	$2.7M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDTshort	+0.0100%	1h	91.460	−0.019%	$67K	$4K	50x
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.710	+0.255%	$914	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.730	+0.276%	$4	—	10x	as long as short
tradeXYZ xyz:CRCL	+0.0142%	1h	91.637	+0.175%	$67.8M	$43.8M	10x	as long as short
Aster CRCLUSDT	+0.0152%	8h	91.687	+0.229%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0168%	8h	91.713	+0.257%	$105.3M	$394.9M	50x	as long as short
Extended CRCL_24_5-USD	+0.0168%	1h	91.704	+0.248%	$1.0M	$5.0M	10x	as long as short
Paradex CRCL-USD-PERP	+0.0176%	8h	91.690	+0.233%	$422	$905	5x	as long as short
Polymarket Perps CRCL-USD	+0.0198%	1h	91.690	+0.233%	$380K	$1.3M	10x	as long as short
Phoenix CRCL	+0.0227%	1h	91.412	−0.071%	$27K	$74K	10x	as long as short
GRVT CRCL_USDT_Perp	+0.0236%	8h	91.520	+0.047%	$69K	$1.1M	10x	as long as short
Lighter CRCL	+0.0240%	1h	91.729	+0.275%	$2.9M	$2.3M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0252%	8h	91.730	+0.276%	$22.3M	$62.2M	50x	as long as short
BloFin CRCL-USDT	+0.0286%	8h	91.660	+0.200%	$1.1M	$1.7M	20x	as long as short
Nado CRCL-PERP	+0.0410%	1h	91.645	+0.183%	$134K	$109K	3x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.990	+0.561%	$5K	$19K	30x	as long as short
RISEx CRCL/USDC	+0.0466%	1h	91.706	+0.250%	$411K	$270K	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0514%	1h	91.700	+0.244%	$5K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0824%	4h	91.524	+0.051%	$52K	$277K	10x	as long as short