Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0056%/8h= +6.2% APRpaid last 24h +0.140%

Price spread now: edgeX against Variational Omni−0.018%89s7-day average −0.008% · you buy dearer than you sell

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

Long on Variational Omni Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.561%+$56 on $10k

Price spread, last 4 days (all we have)+0.089%+$9 · spread now −0.018%, 7d avg −0.008%

Together, before fees+0.650%+ Points / potential airdropVariational Omni: Active · edgeX: Active · farm board+$65 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. The two prices were read 89 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	91.489	0	get 0.0000% / 8h	1h 51m	$2.4M	$3.2M	—
Short	edgeX CRCLUSDC	91.472	0.0056	get 0.0028% / 4h	1h 51m	$52K	$277K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.018%Rate

Funding earned: $11.83
Price spread: −0.018% → −0.008%: −$1.08
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $1.75
Costs to cover: 0.090%
Break-even: 6.0 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; edgeX: live order book, 56 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 Variational Omni RFQ quote, 2 min ago	3.46 bp	doesn't fit	17.8 bp −$178	doesn't fit	doesn't fit
Sell edgeX live order book, 56 min ago	6.01 bp	11.6 bp −$12	23.6 bp −$236	doesn't fit	doesn't fit

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	−0.0737%	8h	91.430	−0.064%	$17.4M	$37.0M	25x	as long as short
Vest CRCL-USD-PERP	−0.0083%	1h	91.110	−0.414%	—	$31K	25x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.380	−0.119%	$14.7M	$26.7M	50x	as long as short
Gate CRCL_USDT	0.0000%	8h	91.410	−0.086%	$7.8M	$27.4M	50x	as long as short
Variational Omni CRCLlong	0.0000%	8h	91.489	long leg	$2.4M	$3.2M	—
Phemex CRCLUSDT	0.0000%	4h	91.430	−0.064%	$1.0M	$48K	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.460	−0.032%	$93K	$289K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0041%	1h	91.391	−0.108%	$2K	$27K	5x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.338	−0.165%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.340	−0.163%	$1.1M	$5.2M	10x	as long as short

Show 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	91.470	−0.021%	$891K	$605K	10x	as long as short
edgeX CRCLUSDCshort	+0.0056%	4h	91.472	−0.018%	$52K	$277K	10x
Aster CRCLUSDT	+0.0065%	8h	91.409	−0.088%	$1.0M	$5.1M	20x	as long as short
QFEX CRCL-USD	+0.0068%	1h	91.400	−0.097%	$1.3M	$1.8M	10x	as long as short
Binance CRCLUSDT	+0.0079%	8h	91.360	−0.141%	$104.5M	$397.4M	50x	as long as short
Extended CRCL_24_5-USD	+0.0080%	1h	91.350	−0.152%	$1.0M	$5.7M	10x	as long as short
Lighter RH CRCL	+0.0096%	1h	91.388	−0.110%	$976K	$2.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.400	−0.097%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.400	−0.097%	$2.7M	$1.8M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.410	−0.086%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.350	−0.152%	$911	$2K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.349	−0.153%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0168%	8h	91.401	−0.096%	$420	$905	5x	as long as short
GRVT CRCL_USDT_Perp	+0.0169%	8h	91.480	−0.010%	$65K	$1.1M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0176%	8h	91.390	−0.108%	$22.2M	$62.6M	50x	as long as short
tradeXYZ xyz:CRCL	+0.0190%	1h	91.292	−0.215%	$67.6M	$44.3M	10x	as long as short
BloFin CRCL-USDT	+0.0197%	8h	91.390	−0.108%	$1.1M	$1.6M	20x	as long as short
Polymarket Perps CRCL-USD	+0.0200%	1h	91.350	−0.152%	$383K	$1.3M	10x	as long as short
Phoenix CRCL	+0.0245%	1h	91.554	+0.071%	$27K	$82K	10x	as long as short
RISEx CRCL/USDC	+0.0271%	1h	91.395	−0.103%	$416K	$271K	10x	as long as short
Lighter CRCL	+0.0376%	1h	91.392	−0.106%	$2.9M	$2.4M	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.930	+0.482%	$5K	$19K	30x	as long as short
Nado CRCL-PERP	+0.0459%	1h	91.285	−0.223%	$134K	$109K	3x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0517%	1h	91.340	−0.163%	$5K	$769K	10x	as long as short